By WRCB Staff

CHATTANOOGA (WRCB) --  Senator Bob Corker warned Chattanooga business leaders of "a looming wave of debt" at Wednesday's Chamber of Commerce meeting.

Corker says congressional budget office figures show a widening gap between U.S. spending and revenues leading to a $1.25 trillion dollar deficit by 2020.

That's why he's introducing a bill *he* says will bring down the debt to reasonable levels.

Corker says he's preparing a bill that aims to lower the national debt in a decade to acceptable levels between 18% and 21% of the gross domestic product.

He said most Americans go about their daily business, absent of Washington.

"It's a construct that forces Washington... Forces politicians... Forces us to constrain and cap spending to a portion of the GDP." says Sen. Corker.

Corker was the keynote speaker at today's annual chamber of commerce meeting. Officials say corker's address drew the largest audience in chamber history, about 13-hundred local business leaders attended today's meeting.