Budget and Economy
As you know, I’ve spent decades talking about these issues. Nobody wants to admit how bad our financial situation is. I try to be honest and tell people where things really stand. In fact, I've been called everything from “A Budget Cassandra” to a Fiscal Hero to “Mr. Fiscal Responsibility” and “Dr. Doom” because I am such a fierce advocate for balanced and honest federal budgeting.
The federal government doesn’t even use real accounting. Washington is the only accounting-free zone left in America. I have been talking about this for years and even wrote a foreword to the Treasury Department’s 2005 Financial Report.
I was one of the first Members to reject earmarks. I've also 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. It was only temporary but it worked. We need to make it permanent law.
Even though we are piling on unbelievable debt right now, this is no time to count the pennies. It’s really unprecedented that Congress responded so quickly and so unanimously by passing four bills to address COVID-19, including the largest relief package ever. This is what is needed to help America recover and begin healing--even the Federal Reserve Chairman has said we need additional relief, which may be costly but worth it to avoid long-term economic damage. The only thing that matters right now is defeating a dangerous virus, helping the people and small businesses that are hurting and financially at the end of their rope, and rescuing our economy.
Links & Additional Information
Fiscal Five Minutes by the Peterson Foundation
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
NASHVILLE – Yesterday Rep.
NASHVILLE – Today Rep. Jim Cooper (TN-05) announced his legislative strategy for solving the problem of trains parking on railroad crossings on busy commuter roads. He and his office have received countless complaints from Nashvillians who report that local trains are parking for much longer periods of time than ever before on busy roads, preventing car and truck traffic from getting to and from work, dealing with emergencies, or shopping for groceries.
WASHINGTON – Following President Joe Biden’s Major Disaster Declaration for several counties in Tennessee, individuals in Davidson, Williamson, and Wilson counties impacted by the severe storms, tornadoes, and flooding from March 25-April 3 of this year may be eligible for low-interest disaster loans from the Small Business Administration.
WASHINGTON – Last night Rep. Jim Cooper (TN-05) released the following statement after Tennessee Governor Bill Lee announced he will opt Tennesseans out of expanded unemployment benefits:
NASHVILLE – Congressman Jim Cooper (D) announced today that Lisa Quigley, his longest serving Chief of Staff, will depart this summer after 13 years leading his office.
He also announced that Cheryl Mayes, his Director of Finance and Operations, will become the District Director of the Nashville office.
WASHINGTON – Rep. Jim Cooper (TN-05) and Rep. Steve Cohen (TN-09) joined 150+ of their colleagues in asking SBA Administrator Isabella Guzman that the Shuttered Venues Operators Grants portal be fixed as soon as possible. The portal opened April 8 and was only live for a few hours before closing for technical issues.
NASHVILLE – Today Rep. Jim Cooper (TN-05) commended President Joe Biden’s executive actions to end gun violence by saying: “President Biden’s actions today will undoubtedly save lives, especially here in Middle Tennessee where our governor just signed a bill to allow the carrying of firearms without a permit,” Rep. Cooper said. “The House passed expanded background check bills last month that we still need the Senate to bring up for a vote.”
NASHVILLE – Today Rep. Jim Cooper (TN-05) announced the U.S. Small Business Administration Shuttered Venues Operations Grant portal will open tomorrow, April 8, and venues that qualify can apply on the Small Business Administration’s website by clicking here.
NASHVILLE – Today Rep. Jim Cooper (TN-05) and Rep. Roger Williams (TX-25) reintroduced the bipartisan bill, the Eliminate the Digital Divide Act. The bill addresses the digital divide by giving more internet access to more people who have been left behind at a time when they most need reliable broadband.
The legislation requires the Federal Communications Commission to set up a new State Broadband program, which will provide funds to expand internet access to unserved areas. This includes more than 600,000 Tennesseans.
NASHVILLE – Today Rep. Jim Cooper (TN-05), along with United Neighborhood Health Services and Matthew Walker Comprehensive Health Center, announced the award of two grants from the U.S. Department of Health and Human Services. United Neighborhood services will receive nearly $5 million and Matthew Walker Comprehensive Health Center will receive nearly $3 million. The grants are a continuation of funding for operations at the federally qualified health centers.