NASHVILLE, Tenn.U.S. Sen. Bob Corker said he'll vote against raising the nation's debt ceiling later this year as long as the federal government spends money in its current fashion.
Corker, in Nashville Saturday for a speech to the Tennessee Medical Association's annual meeting, said he'll hold to opposing raising the debt limit unless "we dramatically change the character of our spending."
"We're spending $4.1 billion a day we don't have," Corker, R-Tenn., said. Corker said if that trend continues, the United States will be facing debt levels that bankrupted the Greek economy.
The decision point is coming this summer when Congress will vote on raising the federal debt ceiling above $14 trillion.
Corker has introduced the Commitment to Prosperity Act, or CAP Act, to hold spending to 20 percent of the gross domestic product. Spending now is 24.7 percent supported by borrowing.