John Cornyn: “I am reading in press reports that some of my colleagues across the aisle are advocating another stimulus package…”

“I am reading in press reports that some of my colleagues across the aisle are advocating another stimulus package, sometimes called government investment, otherwise called spending taxpayers' money that we do not have and borrowing it from our children and most immediately from the Chinese, who own $1 trillion of our national debt. It is astonishing to me that after the last stimulus package early in 2009 failed to meet the President's own stated target of keeping unemployment to 8 percent or lower, some of our colleagues are trying to double down on a bad deal by advocating more stimulus, when 43 cents out of every dollar that is being spent in America today is borrowed money. I mention that the President in his speech on Afghanistan last night said the Federal Government needs to invest more. Well, I do not think anybody should be fooled by what he really means when he says the Federal Government must invest. The only money the Federal Government has is the money that comes from your wallet, from taxpayers. When there is not enough money coming in to keep up with the reckless spending habits of Washington, DC, then they simply borrow the money or print money we do not have, and that is what ``investment'' means when the President talks about needing to invest more Federal Government money.…”