Jordan Applauds Announcement of Lower Budget Deficit

Press Release

Date: July 11, 2007
Location: Washington, DC

Jordan Applauds Announcement of Lower Budget Deficit

Congressman Jim Jordan (R-Urbana) welcomed today's announcement that the federal budget deficit will be nearly $40 billion lower than originally projected.

"This announcement is yet further evidence that the tax cuts of 2001 and 2003 are continuing to produce results for our economy and revenue for the coffers of government," said Jordan, noting that the deficit will now be less than half of what it was just three years ago, and the lowest since 2002.

Jordan said that the large spending increases being proposed by the congressional Democrat majority will either reverse this progress or will lead to higher taxes.

"That is why I have been offering legislation to hold the line on federal spending," said Jordan. "We are at a critical point where we must get our fiscal house in order. Otherwise, if we allow spending to grow unfettered, our children and grandchildren will be forced to shoulder an even larger national debt."

Jordan is in the midst of offering more than $20 billion in proposed spending reductions to keep most federal agencies' budgets at their current 2007 levels.