“No matter how bad you think we handled your money, it’s been even worse since the Democrats took Congress,” said Senator Bob Corker to Shelby County Republicans at Friday’s Lincoln Day Dinner.
“The country’s fiscal situation is the most pressing problem we have,” Corker said. “Our country is moving beyond where Greece was. We are taking in 2.2 trillion in revenue and spending 3.3 trillion. ” With charts to illustrate his point, Senator Corker explained how in the past only about 5% of our debt was held by foreign creditors. Today, 1.2 trillion is held by the Chinese.
Being a senator amid all this “is the most frustrating job I’ve ever had,” Corker said. “In about 3-4 months something significant is going to happen – we will debate raising the debt ceiling. I used to think it was wrong not to; after the last four years it’s impossible to vote for a debt ceiling without cuts and I won’t.
“The only way the country can get back on track is to put us in a strait jacket,” he continued. “I’m introducing the CAP act to do just that and it’s gaining momentum. It will put Congress in a strait jacket on spending. Every program in Washington has to be re-evaluated.”
Corker asked us to be more informed. “Most Tennesseans think what happens in Washington only affects their neighborhoods. But it affects every Tennessean,” he noted.
Corker thanked the party for its work in recent elections. “You have taken over Shelby County! Thank you for doing the hard job. “