And, I am profoundly concerned about the financial health of our country. For far too long our government has failed to rein in spending that continues to increase the national debt. We literally cannot afford to ignore the fact that unless we get federal spending under control, we are going to saddle our children and grandchildren with a crushing federal debt. Both parties must come together to balance the federal budget, keep taxes low and cooperate with each other to find fiscally responsible solutions to the challenges facing our country.

Keep taxes low: I voted in favor of extending the expiring tax cuts of 2001 and 2003. I also voted against the largest tax increases in history, totaling over $900 billion. It is important that Congress be able to balance the federal budget without digging deeper into the pockets of working Americans.

Irresponsible Earmarks: I co-sponsored an amendment that would have placed a one-year moratorium on all earmarks. The process through which earmarking takes place is irresponsible, it contributes to wasteful spending in Washington and it erodes public confidence in our ability to make and adhere to budget priorities. Irresponsible earmarks are only a small part of our fiscal problems. We must improve the process. This one-year time out would have been a step toward that end. I also support a presidential line item veto in order to give the president the ability to cut individual pork barrel projects from Congressional spending bills.

Economic stimulus is just a political stimulus: I opposed the Economic Stimulus Act of 2008 that irresponsibly sprinkled money around the country. As I said during the debate over this bill, “What I see in this package is nothing but a political stimulus.” The Economic Stimulus Act will cost future generations of American taxpayers almost a half of a trillion dollars that most likely will all be borrowed from foreign countries.

A practical approach to the federal budget: I am a co-sponsor of a bill that mandates that Congress adopt a two-year budget resolution and two-year appropriations bills. Congress has routinely failed to pass the individual appropriations bills that fund federal agencies and government programs by the end of the fiscal year. This situation has forced Congress to hastily pass multiple spending bills rolled into one (called an omnibus appropriations bill) in order to keep the government operating. This process often allows wasteful spending provisions or earmarks to avoid the public scrutiny they would receive if Congress had the time to conduct appropriate oversight.

Achieving fiscally responsible results: I am a co-sponsor of S. 2063, the Bipartisan Task Force for Responsible Fiscal Action Act. This is a bipartisan effort to review all aspects of the government’s long-term financial condition and find solutions to protect critical programs while keeping costs down which would be fast-tracked through Congress and guaranteed an up or down vote.

Housing Stimulus Misses the Mark: I voted against the so-called Housing and Economic Recovery Act because as the bill evolved and new provisions were added, it became clear that the actual package passed by the Senate doesn’t address the real challenges facing our housing market. When the Senate began discussing the legislation, I supported a tax credit designed to incentivize more buyers to enter the market, modernizing the Federal Housing Administration (FHA), and creating a regulator for the government sponsored enterprises (GSE), Fannie Mae and Freddie Mac. The bill was amended a final time, adding a provision in the bill that would give the treasury secretary a blank check and unprecedented powers to deal with Fannie and Freddie without any appropriate direction and oversight. I simply refused to ask taxpayers to bear the cost of bailing out two publicly traded companies who own or guarantee over $5 trillion worth of loans.

U.S. Sen. Bob Corker (R-Chattanooga), is the former mayor of Chattanooga.  He was elected to the Senate in 2006.  Corker can be reached through his Chattanooga office at (423)756-2757, or  through his Washington, D. C. office at (202)224-3344, FAX (202)228-0566.