Sen. Corker: Only progress on deficit reduction or job creation will come from supercommittee

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Corker said passage of President Obama's jobs plan, which Obama has been pushing since Congress returned from August recess, would go nowhere.

On Tuesday the Senate held a vote on Obama's jobs plan but the measure failed to pass. Even if the legislation had made it through the senate it's highly likely that it would have failed in the Republican-controlled House.

In the same interview, Corker suggested that there was no point in hoping President Obama would pass a job creation package because it's unlikely to pass both the House and the Senate.

"Why would you focus on the president leading when —I'm not trying to be pejorative here— is it's not going to happen," Corker said. "So let's all focus on the only thing that's really going to matter.

Corker said the supercommittee is the only panel that could successfully do deficit reduction or job creation.

"It's the only thing going that has a chance of happening," Corker said.