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Corker: Stimulus package won't fix recession

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Corker: Stimulus package won't fix recession | ECONOMY

Sen. Bob Corker says the $789B stimulus package won't help. TMP photo by Michelle Willard
U.S. Sen. Bob Corker said the $789 billion economic stimulus package signed into law by the president Tuesday will not help the country climb out of recession.

“The amount of money is not going to fix the problem,” the Republican senator from Chattanooga told a group of local business people Wednesday during the Rutherford County Chamber of Commerce Power Lunch.

Corker voted against the stimulus package and the bailout of the Big Three automobile companies.

According to the Obama administration, the American Recovery and Reinvestment Act will create or save 3.5 million jobs over the next two years. Jobs created will be in a range of industries from clean energy to health care, with more than 90 percent in the private sector.

Corker said the country should focus on solving the issues that caused the economic crisis, which is the credit markets and housing.

Our emphasis needs to be on getting the credit markets functioning, he said, which will help most consumers and small business owners.

In the stimulus package, the state of Tennessee will receive $4.2 billion that must be spent in 24 to 36 months, Corker said.

“You have no idea what this money will do to the state,” Corker said, adding that this large influx of money that must be spent in a short amount of time may cause more harm than good.

In a statement Feb. 13, Corker said “I believe many Americans will look up in 24 or 36 months and realize they are left paying the tab for something that will have very little tangible benefit to our country.”

Corker said much of the spending is programmatic and will have nothing to do with creating jobs.

He said he wants jobs to come back, but they won’t because of the stimulus package.

Erin Edgemon can be reached at 869-0812 and at eedgemon@murfreesboropost.com

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Members Opinions:
February 18, 2009 at 4:30pm
I totally agree with Sen. Corker. This plan is wasting our tax dollars. The money could have been better spent by sending it back to the people who paid it in.
February 18, 2009 at 4:36pm
God bless Senator Corker. He also voted against ACORN getting anything from the stimulus. However, that passed as well. So, the organization being investigated for voter fraud is getting a big chunk of change. I guess they need more money to register parakeets, hamsters, and cartoon characters to vote. Does anyone else get nauseated when they hear the words "Pelosi" or "democrat"?
February 18, 2009 at 4:49pm
Corker is my man. He is smart and has a handle on business affairs. He is exactly right in what he has said. Thanks to him for voting against the Obama Stimulus Package and the bail out of the Big 3. And as expected the Big 2 are coming back for more $$$$$$$. Seems Ford is going it on their own right now. Buy Ford !!!!!
February 18, 2009 at 4:49pm
Key word: Fix. The stimilus is to help jumpstart the economy and time is of the essence to see if the economy can heal. Everyone in the Republican party seems to be looking down on the new administration, however, I ask myself could we have taken another four years of what we had the last eight.
February 18, 2009 at 4:54pm
As it may be, it seems that the BIG 3 got some bailout under the old administration. What is the deal about bailouts now?
February 18, 2009 at 4:57pm
DEMOCRAT, I feel great.
February 19, 2009 at 7:47am
I agree barrettbear. The stimulus is to help jumpstart this economy which has been destroyed over that past 8 year by an administration that didn't know it's head from a hole in the wall. Corker is not a smart man with a handle on business affairs, he's a crook with his hand on his money!! The Republican party should go ahead and admit that the old administration was horrible and put this country in this crisis. In my opinion, this stimulus package can't hurt the country anymore than it already is. No, I'm not a democrat nor an independent and certainly not a republican. I'm an American citizen who is willing to wait and see what happens. It obviously can't get any worse.
February 19, 2009 at 9:15am
vdanr, It can get alot worse and it's really naive to think otherwise.
February 19, 2009 at 9:29am
The Community Reinvestment Act is was got us in all this trouble. Thanks Peanut man and Clinton. And yes Bush liked the CRA as well. I have been against all the bailouts and stimulants or should I just call it all Graft. I was looking forward to a change, not this kind of change, massive more amounts the same is not a change. Keep doing the same thing over and over and expecting a different result is called what???
February 19, 2009 at 11:12am
Stupidity?
February 19, 2009 at 11:34am
Actually Macgyver, it can't get any worse because we are at the bottom now. Since stupidity is doing the same thing and expecting a different result, then what do you call people that only follow party lines rather than trying something different??
February 19, 2009 at 1:25pm

People seem to forget that NOTHING and nobody is going to be a quick fix for what our country is going through right now.

So before you pass judgment on people and their political party choices, and spouting all the doom and gloom, and "end of the world" stuff, try being quiet for a minute and watch and listen!
February 19, 2009 at 2:24pm
vdanr, I do agree that "doing the same thing and expecting a different result" is stupidity unless do are trying to disprove a theory. The people who follow party lines I would refer to as far-left, far-right or hardliners. Some people just think others are crazy for there opinion, period. As for "it can't get any worse because we are at the bottom now", time will tell if this is the bottom but I have read about life during the depression and this has no comparison to those times.
February 19, 2009 at 4:33pm
I may have been young in the 80's but I do remember them, think of mortgage rates at 23 percent. In 89 when I bought my first house I was lucky to get 10.5%. And unemployment was higher. So those of you who think things are so bad, they aint. Unless your out of a job because your either 100% employed or your missing a paycheck.
February 19, 2009 at 5:41pm
Carter and Clinton have been out of office how long? And how long has this economic slump been going? farmall do some math. Justdance if you do as you say, why the comment at all? You know I am not passing judgement on any political party and I hold my own? When the signs of economic troubles started I just can not say that the last administration acted in a timely manner. I do not agree with spending sprees either, however, the new commander in chief says the economy needs help. To me, it is no different than going and buying food to give to charities so that local people who have lost their jobs can eat. That is extra spending, for a cause though. Agree or disagree, I think change has come and we must pick ourselves up, dust ourselves of, and begin the remaking of the United States of America.
February 20, 2009 at 9:20am


barrettbear, just my opinion, but I guess that's what the other comments were too. Just saying we should all try to be more patient and ride this wave out as best we can, myself included.

Couldn't agree more with your last statement. God Bless America!
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