Trillions of dollars in budget cuts could be the stimulus the American economy needs, according to Tennessee Senator Bob Corker. He made his case to business leaders in Nashville Thursday.
Short term spending has been tried and Corker says such ideas coming from the President are becoming irrelevant. Stability, he says, would be a real stimulus. And Corker thinks that can be achieved if the deficit-cutting super committee goes above and beyond its duties and cuts government spending by $4 trillion.
“If we’ll deal with the long term issues in Washington, I believe it’s the best short term stimulus, for people to have an air of predictability, for people to believe that we have the courage in Washington to deal with the major issues.”
Every bit of federal spending is supposed to be on the table, which would normally have interest groups lined up to talk to the super committee. But members are trying to steer clear of paid lobbyists. So interest groups are making their demands to other lawmakers, in hopes the message will get to the right people. Senator Corker says he won’t do it.
“I’ve looked them in the eye and said, ‘I’m sorry guys.’ Our country has a tremendous problem in front of it and this is something that’s going to affect everyone.”
While not telling the panel where to cut, Corker has put in his two-cents on how much. He’s one of 38 senators on both sides of the aisle that’s signed a letter asking for the super committee to cut more than the $1.2 trillion Congress agreed on. He says members of the 12-person panel want to do something big, but he expects they will end up getting by with the bare minimum.