Newsmax TV & Webwww.newsmax.comFREE - In Google Play
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
Skip to main content
Tags: money | johnson | china | bill | fix

Ron Johnson to Newsmax: Shouldn't Fix the China Problem With Money We Don't Have

(Newsmax/"Spicer & Co.")

By    |   Wednesday, 09 June 2021 08:14 PM EDT

Sen. Ron Johnson, R-Wis., says Congress should not try to combat the lingering economic threat China has become with legislation allocating money the country doesn’t have.

Johnson told “Spicer & Co.,” “My problem with this bill is that once again, the first thought on just about everybody's mind here in Washington, D.C., in terms of how do you fix the problem is you throw money at it, and so I just don't believe that spending close to one quarter of a trillion dollars of money that we don't have, further mortgaging our children's future, is going to solve the problem.”

The Senate on Tuesday passed, 68-32, an expansive bill called “The Innovation and Competition Act.” It is aimed at reinvigorating America's technological footprint to counter China. The bill now heads to the House, where it faces a competing bill and a somewhat cloudy future, USA Today reported.

Johnson, who is on the Senate Committee on Commerce, Science and Transportation, thinks one of former President Donald Trump's many accomplishments is that he did convince everybody that China was a “real malign threat,” and “so there is broad bipartisan recognition of that fact and support for conquering China,” he said.

The bill, if passed, would apportion at least some funds to the National Science Foundation, and some of their studies are just preposterous, he said.

Johnson told Newsmax that money is “going to be flowing through the National Science Foundation, which is often produced some of these studies that are just ridiculous — and you know [they are already] starting to double their budget and then you know [there’s] funding that goes through colleges and universities without controls, by the way, in terms of where that money is actually going to be spent.”

He feels our advantage against China is our private sector.

The U.S. private sector, he argued, "allocates capital more efficiently than essentially a planned economy,” but under President Joe Biden, “we're moving into a government industrial type of policy.”

“It's just simply not going to work, and it's going to waste a quarter of a trillion dollars,” he said.

“Well, I think the Biden administration is doing what it's been doing since the first day, if Trump was for it, they're against it, if Trump was against it they’re for it," he said. "I mean it really seems almost that simple, and unfortunately — that destructive — when you take a look at what they've done.”

Note: See Newsmax TV now carried in more than 100 million U.S. homes, on DirecTV Ch. 349, Dish Network Ch. 216, Xfinity Ch. 1115, Spectrum, U-verse Ch. 1220, FiOS Ch. 615, Frontier Ch. 115, Optimum Ch. 102, Cox cable, Suddenlink Ch. 102, Mediacom Ch. 277, AT&T TV Ch 349,  FUBO and major OTT platforms like Roku, YouTube, Xumo, Pluto and most smart TV’s including Samsung+, Sony, LG, Vizio and more – Find All Systems that Carry Newsmax – Click Here

© 2023 Newsmax. All rights reserved.

Sen. Ron Johnson, R-Wis., says Congress should not try to combat the lingering economic threat China has become, with legislation allocating money the country doesn't have.Johnson told "Spicer & Co." "my problem with this bill is that once again,...
money, johnson, china, bill, fix
Wednesday, 09 June 2021 08:14 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.

Interest-Based Advertising | Do not sell or share my personal information

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

America's News Page
© Newsmax Media, Inc.
All Rights Reserved
Download the NewsmaxTV App
Get the NewsmaxTV App for iOS Get the NewsmaxTV App for Android Scan QR code to get the NewsmaxTV App
America's News Page
© Newsmax Media, Inc.
All Rights Reserved