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John Cornyn: Cardboard Conservative

John Cornyn cloaks himself in predictable conservative rhetoric. An examination of facts, however, shows his words are a paper-thin veneer concealing a voting record supporting runaway deficit spending and long-term federal debt.
Review the report below detailing Cornyn ignoring red ink and carrying water for failed and irresponsible Republican budgets. Then visit the Lone Star Project’s Cardboard Conservative Clubhouse  and give John Cornyn attire appropriate for his record rather than his rhetoric.

Sis Boom Borrow

Rather than demand fiscal discipline, John Cornyn is a cheerleader for borrow and spend budgets designed to provide political cover for the national Republicans. Cornyn’s “rah rah” rhetoric doesn’t erase his votes for spending plans that have resulted in budget shortfalls ranging from almost $250 billion to over $400 billion.

  • Cornyn on Republican Administration’s budget for Fiscal Year 2004.
    “As for the argument that this proposal would cause greater deficits, I disagree.” (Cornyn Floor Speech, U.S. Senate Wednesday, May 07, 2003)

    Fact: The deficit for 2004 was $412.7 Billion, the highest in history. Cornyn voted “Yea.” (Source: White House Budget 2008, Historical Tables H. Con. Res. 95, Senate Vote 134)
  • Cornyn on Republican Administration’s budget for Fiscal Year 2005.
    “The President’s budget request sets meaningful limits and recognizes the priority of federal spending restraint over the next year.” (John Cornyn, press release, February 2, 2004)

    Fact: The deficit for 2005 was $318.4 Billion, the third highest in history. Cornyn voted “Yea.” (Source: White House Budget 2008, Historical Tables, S.Con.Res. 95, Senate Vote 58)
  • Cornyn on Republican Administration’s budget for Fiscal Year 2006.
    The budget “funds the top priorities and insists on spending restraint elsewhere….The President has clearly shown his commitment to being a good steward of taxpayer dollars” (John Cornyn, press release, February 7, 2005)

    Fact: The deficit for 2005 was $248.2 Billion, the seventh highest in history. Cornyn voted “Yea.” (Source: White House Budget 2008, Historical Tables, H. Con. Res. 95, Senate Vote 114)
US Surplus/Deficit
YearDeficit/Surplus
2001 (Last Clinton Budget)$129.3 billion SURPLUS
2002 (Cornyn Elected)-$157.8 billion DEFICIT
2003-$377.6 billion DEFICIT
2004-$412.7 billion DEFICIT
2005-$318.3 billion DEFICIT
2006-$248.2 billion DEFICIT
2007-$244.2 billion DEFICIT
*Estimated

(Source: White House Budget 2008, Historical Tables)

“Debt-puty” Lap Dog

In order to cover yearly deficit spending, the United States must borrow enormous sums and ultimately repay with interest. Since John Cornyn entered the Senate, US debt has exploded – increasing by $2.55 trillion – and now totals more than $8.8 trillion. Just since entering Congress four and a half years ago, John Cornyn has already cast two votes raising the US debt ceiling. (Source: S.2986, November 17, 2004; H.J.Res.47, March 16, 2006)

Deficits = Long Term Debt

(Source: The Daily History of the Debt Results –Bureau of Public Debt the Treasury Direct)

Who Totes the Note?

Just like a bank holds the note on a car and a mortgage company holds the note on a house, the US turns to underwriters to support its multi-trillion dollar debt. With John Cornyn’s support, the US debt has grown so large that foreign countries that are US competitors in the world market, and some that are hostile to the US, “tote the note” on our enormous debt.

US Debt Owned by Foreign Countries
CountryUS Debt Owned
China$407.4 billion
Oil Exporters*$121.3 billion
Brazil$81.6 billion

*Oil Exporters include Ecuador, Venezuela, Indonesia, Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, the United Arab Emirates, Algeria, Gabon, Libya, and Nigeria.

(Source: Department of the Treasury/Federal Reserve Board, July 17, 2007)

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