New Hampshire Sen. Judd Gregg : Obama's 2011 Budget Violates Law !!!

[I AM NOT THAT GUY 5,715]

RsVkEo_gGZE

[I AM NOT THAT GUY 5,715]

Gregg skewers OMB chief over TARP funds

A fiery Judd Gregg, the senior Republican on the Senate Budget Committee, blasted the White House budget chief yesterday over his boss' plan to transfer bailout funds to a new small business loan program.

While President Obama was visiting Nashua, Gregg's birthplace, the three-term senator was on Capitol Hill skewering Peter Orszag over the plan to funnel $30 billion from the Troubled Asset Relief Program.

Gregg erupted as Orszag spoke of the TARP use to solve lingering problems with access to credit for small businesses.

"No! No! No!" he yelled out. "You can't make that type of statement with any legitimacy. You cannot make that statement."

Gregg then held up a guideline for the TARP, which he helped write in 2008 to keep the country from further economic collapse.

"This is the law," he said. "Let me tell you what the law says. Let me read to you again because you don't appear to understand the law. The law is very clear. The monies recouped from the TARP shall be paid into the general fund of the Treasury for the reduction of the public debt. It's not for a piggy bank because you're concerned about lending to small businesses and you want to get a political event when you go out and make a speech in Nashua, N.H."

Gregg accused Orszag and Obama of passing on debt to generations of Americans and having an abashed sidestepping of the TARP law. "And," he said, "you ought to at least have the integrity to be forthright about it."

Under further questioning from Gregg, Orszag said the administration would be seeking congressional approval.

Then Sen. Bernie Sanders, I-Vt., chimed in, "That is how laws are made usually, Congress passes them."

Gregg fired back, "Did the senator from Vermont make a statement? Well the senator is wrong. This is the law as it stands today. There is no law on the books."

http://www.unionleader.com/article.aspx?he...6a-93c9d6762642

[Dan J 277]

If its against the law, they could change it, and do something good for the economy. But of course, politics is more important than doing something about the unemployment in this country.

[Hilarious Clinton 452]

Gregg skewers OMB chief over TARP funds

"This is the law," he said. "Let me tell you what the law says. Let me read to you again because you don't appear to understand the law. The law is very clear. The monies recouped from the TARP shall be paid into the general fund of the Treasury for the reduction of the public debt. It's not for a piggy bank because you're concerned about lending to small businesses and you want to get a political event when you go out and make a speech in Nashua, N.H."

Gregg accused Orszag and Obama of passing on debt to generations of Americans and having an abashed sidestepping of the TARP law. "And," he said, "you ought to at least have the integrity to be forthright about it."

Under further questioning from Gregg, Orszag said the administration would be seeking congressional approval.

http://www.unionleader.com/article.aspx?he...6a-93c9d6762642

Good luck with that. We'd have better luck cloning Hitler and training him for the next moon landing.