The July 11, 2007 press release below is from Congressman Jim Cooper's office complaining about a $205 billion deficit.
The current budget is now projected to have a deficit of $1.8 trillion. Congressman Cooper calls this budget "honest." In fact, when asked if this budget would have received his support if it had been proposed by President Bush, he said "it would have."
July 11, 2007: NASHVILLE - U.S. Congressman Jim Cooper today criticized President George W. Bush for continuing to mislead Americans about the country's true financial state. The administration announced this afternoon that the federal budget deficit for this fiscal year would be $205 billion, lower than it had publicly anticipated.
"The number the president announced today is more happy talk from a guy who seems to have learned accounting from his friends at Enron," Cooper said. "The real, audited federal budget deficit is 15 times larger-about 3 trillion dollars. And what's more, we have a long-term spending crisis on our hands that will literally bankrupt the country unless we take action soon. President Bush does the nation a disservice by pretending things are just fine. It seems we have a leadership deficit, too.
"The good news is that a group of patriotic experts is taking this urgent warning directly to the American people," Cooper continued. "On Monday, U.S. Comptroller General David Walker and a bipartisan panel of economists will be in Nashville to give us the real numbers. The Fiscal Wake Up Tour is coming to the Downtown Library, and I encourage all Middle Tennesseans to come hear their important message. Your children will thank you for refusing to bankrupt future generations."