Budget and Economy
The biggest crisis our nation faces is our fiscal future, and we must act soon to start solving these problems.
As you know, I’ve spent decades talking about these issues. In fact, I've been called everything from “A Budget Cassandra” to “Mr. Fiscal Responsibility” and “Dr. Doom” because I am such a fierce advocate for balanced and honest federal budgeting. I've served on the Budget and the Oversight and Government Reform Committees and used my position in the fiscally conservative Blue Dog Coalition to advocate for making the hard choices that lead to balanced budgets: cutting spending, closing tax loopholes, and being upfront with taxpayers about how the federal government spends their money. Everything must be on the table – spending and revenue.
So far, only one bipartisan and balanced budget has been introduced in Congress that's big enough to address our problems -the Simpson-Bowles budget alternative that I introduced in 2012. Although it didn't win the support of the majority in Congress, it was praised by budget experts and newspapers all over the country as a serious effort that would actually work.
I've also supported a balanced budget amendment, voted for across-the-board spending cuts and worked to reinstate "pay-as-you-go" rules into law. I've introduced bipartisan bills to eliminate wasteful spending and prevent agencies from duplicating programs that already exist. The main ideas behind my No Budget, No Pay Act, which would stop paying Congress if it fails to pass our budget and spending bills on time, became the law of the land in early 2013.
We need citizens, business leaders and elected officials to work together to protect the future of our nation. From debt ceiling debates to fiscal cliffs, I believe delay is never an option. Every day we wait adds over $17 billion to our debt, prolongs the economic slowdown, delays the creation of millions of private-sector jobs, and risks the credit rating of the federal government.
Links & Additional Information
What is the Debt Ceiling?
Congressional Budget Office (CBO)
House Budget Committee
Financial Report of the United States from the Department of the Treasury
Current U.S. Debt
The White House Office of Management and Budget (OMB)
Government Accountability Office (GAO)
Calculate Your Tax Receipt
More on Budget and Economy
WASHINGTON – U.S. Rep. Jim Cooper (TN-5) today issued a statement following his vote against a $1.1 trillion spending bill.
“Congress had all year to do its job. But it again waited until the final hours and made shady backroom deals. This bill is no way to govern," Cooper said.
Rep. Jim Cooper avoids partisan extremes
By Paul C. Barton
(Excerpts from The Tennessean)
WASHINGTON – The Campaign to Fix the Debt recently named U.S. Rep. Jim Cooper (TN-5) one of 13 “fiscal heroes” in the House of Representatives for his longtime commitment to solving America’s financial problems.
“We have to get serious about our national debt or we could permanently damage our country,” Cooper said. “Even Admiral Mike Mullen has said our debt is the biggest threat facing America.”
WASHINGTON – U.S. Rep. Jim Cooper (TN-5) bashed what he called “a zombie earmark” and helped strip money from a dead project Wednesday at the House Armed Services Committee markup of the National Defense Authorization Act.
Cooper said delays and cost overruns at a mixed oxide (MOX) fuel fabrication facility in South Carolina justified his criticisms. The Department of Energy recently conducted a review of MOX – a plutonium disposal facility that has not yet been completed – and decided to cancel the South Carolina program due to unaffordability.
WASHINGTON –U.S. Rep. Jim Cooper (TN-5) was joined by 46 co-sponsors of his No Budget, No Pay Act (H.R. 310) in sending a letter to House Speaker John Boehner and Democratic Leader Nancy Pelosi calling for a floor vote on No Budget, No Pay.
WASHINGTON – In a rare floor statement Wednesday morning, U.S. Rep. Jim Cooper (TN-5) criticized Congress in reaction to news that China is expected to overtake America this year as the world’s largest economy.
“The job of a congressman is, simply put, to keep America No. 1,” Rep. Cooper said. “This Congress is failing at that job. … My colleagues should not blame anyone else for this mess.”
Read Rep. Cooper’s floor statement below or watch the video here.
April 30, 2014
WASHINGTON – Last week, U.S. Rep. Jim Cooper spoke at a hearing of the House Armed Services Committee. The hearing allowed Members to question Defense Secretary Chuck Hagel and discuss the FY15 budget request from the Department of Defense (DOD).
In his remarks at the hearing, Cooper said DOD should get discretion when applying cuts from sequestration.
“Why don’t we untie the hands of our own Pentagon, so that you can be all that you can be, so that you can be as effective as possible?” Cooper said.
Welcome to our #coopergraphics page. No fancy graphic designers here, just a staff trying to make infographics about what's going on in Congress. We're always looking for new ideas, so send us an e-mail if you have suggestions or questions.
Taxpayers' Right to Know: My bill on duplicative programs passed the House on February 25, 2014. Check out the full GAO report on Duplication & Cost Savings here.
WASHINGTON — A bill introduced by Rep. Jim Cooper (D-TN) and Rep. James Lankford (R-OK) that would require the federal government to find ways to eliminate duplicative programs passed the House of Representatives today.
“Let’s all say no to waste,” Cooper said after a unanimous voice vote on the House floor. “When you’re already in the hole, you shouldn’t keep digging.”
WASHINGTON—U.S. Rep. Jim Cooper (TN-5) today supported a House bill that will fund the government for the next two fiscal years, but stood firm in demanding a comprehensive budget solution for America's long-term debt and deficit problems.
"This is a puny deal but it's better than no deal at all," Cooper said. "It shows that Congress can keep government open, but not fix our fundamental budget problems. I will keep working harder than ever on major reforms of Congress and American government."