What's the Republican Position?

I find myself puzzled this morning by John McCain's comments that the large stimulus bill will leave Americans saddled in debt for generations to come.  I agree that we will need to pay for all this borrowing in the future, but McCain ignores the basic tenet of what we are trying to do: stimulate the economy through deficit spending.  Even Republicans want to do that, but with a heavier emphasis on tax cuts than on spending.  In the end, this is a compromise bill with lots of tax cuts and lots of spending.

If someone can explain to me how McCain intended to address the current situation without increasing the deficit, I'm all ears.