Update from Senator Bob Corker

January 6, 2012



Tax Reform, Entitlement Reform and Deficit Reduction Could Allow Economy to “Really Take Off”





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Responding to the Department of Labor's December jobs report on CNBC today, Senator Corker praised the creation of new jobs and the resiliency of the private sector in America despite the failure of Washington to address our nation's long-term challenges. He said "the economy could really take off" if Congress were able to pass a serious plan for tax reform, entitlement reform and deficit reduction.



Corker Warns of Unfettered Power of Consumer Bureau





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Thursday on Fox News, Senator Corker called the Obama administration's recess appointments to the National Labor Relations Board and the Consumer Financial Protection Bureau "abusive" and warned about the consequences for the unfettered power of the consumer bureau without putting in place appropriate checks and balances on its authority.



"Instead of working in a productive way with Congress, the administration has chosen to undermine any attempt at bringing accountability and balance to the bureau. I strongly support consumer protections and am not opposed to eventually confirming a director, but not before putting in place a board-like structure and checks on rulemaking abilites to ensure the director is accountable and does not have unfettered power," Corker said in a written statement following news of the Cordray appointment.



Read more: Corker Says President Obama's Recess Appointment of Richard Cordray Undermines Any Effort to Bring Accountability, Balance to Consumer Bureau



In the News



Chattanooga Free Press Editorial: President flouts checks, balances



"President Barack Obama is engaged in an astonishing power grab. On Wednesday, he installed by 'recess appointment' a person to head the extremely powerful new Consumer Financial Protection Bureau -- even though the Senate was not actually in recess... No one individual is wise enough to wield the sort of power over the U.S. economy that the bureau's director will wield, and Republican U.S. Senator Bob Corker, of Chattanooga, sharply criticized the president's decision to install Cordray." Read more...



Knoxville News Sentinel: Greg Johnson: Appointments rip apart Constitution



"The ripping sound coming from Washington on Wednesday could have been the self-inflicted removal of every hair from every head of every Tennessee Republican in Congress. More likely, though, the roar of a rip was President Barack Obama shredding the Constitution... U.S. Sen. Bob Corker called out the imperial president..." Read more...