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John Cornyn on Budget & Economy

Republican Jr Senator (TX)

 


We've had 17 federal shutdowns since 1976; Obama is AWOL

Q: How do we end the government shutdown?

CORNYN: Well, 17 times since 1976, the government has temporarily shut down because of an impasse over spending levels. And that's what has happened again. And we're not going to resolve this without the president engaging. Now, the debt ceiling and the continuing resolution have sort of morphed into one another because of the timing of this thing. In 2011 the president now realizes that Republicans who were concerned about spending levels got the better of him on the Budget Control Act, which has actually cut $2 trillion over the next 10 years. We got on that trajectory of discretionary spending. And the president realizes that he's going to have to give something in order to get what he wants. The president needs to do his job. So far he has been AWOL.

Source: CBS Face the Nation 2013 series: 2014 Texas Senate race , Oct 6, 2013

Inaction on $700B bailout is unacceptable leadership

Noriega assailed Cornyn over his steadfast support of President Bush and his vote for a $700 billion economic bailout, saying Cornyn demonstrated a "herd mentality" on a bailout bill that was loaded with pork projects and intended to help Wall Street mor than Texas families. Cornyn argued that Noriega wouldn't have taken any action, which he said isn't acceptable for an elected leader.

The Senate candidates both said those who committed wrongdoing in the financial crisis should be held accountable.

Source: 2008 Texas Senate Debate reported in Dallas Morning News , Oct 17, 2008

Voting for $700B bailout demonstrates leadership

The nation's struggling economy and the $700 billion bailout package Congress approved figured prominently in the debate. Noriega has criticized the bailout as lacking enough reform and Wall Street accountability, while Cornyn--who voted for the package--has said elected leaders must make difficult decisions on big issues.
Source: 2008 Texas Senate Debate reported in Dallas Morning News , Oct 17, 2008

Supports fewer lawsuits, regulations, & taxes

Cornyn knows that jobs matter most to Texas families. Stable employment and economic growth solves more problems than government ever can. He will support President Bush in his efforts to create long-term economic growth by cutting taxes, generating jobs, opposing unsound government regulations, and ending frivolous lawsuits that make trial lawyers rich and put other people out of work.
Source: 2002 Senate campaign website, www.JohnCornyn.com, "Issues" , Jun 20, 2002

Balanced Budget Amendment with 3/5 vote to override.

Cornyn signed H.J.RES.1& S.J.RES.22

Constitutional Amendment to prohibit outlays for a fiscal year (except those for repayment of debt principal) from exceeding total receipts for that fiscal year (except those derived from borrowing) unless Congress, by a three-fifths rollcall vote of each chamber, authorizes a specific excess of outlays over receipts.

Source: Joint Resolution for Amendment to the Constitution 09-HJR1 on Jan 6, 2009

Disapprove of increasing the debt limit.

Cornyn co-sponsored Joint Resolution on Debt Limit

Congressional Summary:JOINT RESOLUTION: Resolved by the Senate and House of Representatives: That Congress disapproves of the President`s exercise of authority to increase the debt limit, as submitted on Jan. 12, 2012.

Congressional Vote: Vote #4 in the House: 239 Yeas; 176 Nays; Senate declined to vote on the Resolution.

OnTheIssues Explanation: On Jan. 12, 2012, Pres. Obama notified Congress of his intent to raise the nation`s debt ceiling by $1.2 trillion, two weeks after he had postponed the request to give lawmakers more time to consider the action. Congress then had 15 days to say no before the debt ceiling is automatically raised from $15.2 trillion to $16.4 trillion. Hence the debt ceiling was increased.

In Aug. 2011, the US government was nearly shut down by an impasse over raising the debt ceiling; under an agreement reached then, the President could raise the debt limit in three increments while also implementing $2.4 trillion in budget cuts. The agreement also gave Congress the option of voting to block each of the debt-ceiling increases by passing a `resolution of disapproval.` The House disapproved; the Senate, by declining to vote in the 15-day window, killed the Resolution. Even if the resolution were passed, Pres. Obama could veto it; which could be overridden by a 2/3 majority in the House and Senate. The House vote only had 57% approval, not enough for the 67% override requirement, so the Senate vote became moot. The same set of actions occurred in Sept. 2011 for the first debt ceiling increase.

Source: HJRes.98/SJRes34 12-SJR34 on Jan 23, 2012

Audit the Federal Reserve & its actions on mortgage loans.

Cornyn co-sponsored Federal Reserve Transparency Act

The Federal Reserve Transparency Act directs: