WASHINGTON (CNN) – Even though he was almost a member of the new Obama administration, New Hampshire Republican Judd Gregg Sunday slammed President Obama’s approach to handling the country’s fiscal outlook.
Watch: Gregg warns of fiscal 'crash'
“The practical implications of this is bankruptcy for the United States,” Gregg said of the Obama’s administration’s recently released budget blueprint. “There’s no other way around it. If we maintain the proposals that are in this budget over the ten-year period that this budget covers, this country will go bankrupt. People will not buy our debt, our dollar will become devalued. It is a very severe situation.”
Gregg, known as one of the keenest fiscal minds on Capitol Hill, also told CNN Chief National Correspondent John King that he thought it was “almost unconscionable” for the White House to continue with its planned course on fiscal matters with unprecedented actual and projected budget deficits in the coming years.
“It is as if you were flying an airplane and the gas light came on and it said ‘you 15 minutes of gas left’ and the pilot said ‘we’re not going to worry about that, we’re going to fly for another two hours.’ Well, the plane crashes and our country will crash and we’ll pass on to our kids a country that’s not affordable.”
Despite his criticism of Obama’s approach to the long-term finances of the country, Gregg praised how Obama’s top economic lieutenants are trying to get the sick banking system back to health.
“They’re doing the right things,” Gregg said about embattled Treasury Secretary Timothy Geithner and White House economic adviser Larry Summers. “They haven’t done it as definitely as they should have . . . but they are moving in the right direction and the Fed is moving in the right direction,” Gregg said on CNN’s State of the Union.
Gregg broke ranks with some of his fellow Republicans and said he did not think Geithner should step down from his Cabinet post.
On the recent scandal of more than $150 million in bonuses paid to the AIG employees whose work pushed the financial giant to the brink of collapse, Gregg criticized the plan afoot on Capitol Hill to tax those bonuses at very high rates. But, Gregg pointed out that the Obama administration and, to some extent, the Bush administration before it failed to “discipline” the bonuses paid out by AIG, which is now 80 percent owned by the federal government.
The Republican senator was appointed to be Obama’s Commerce Secretary but then bowed out unexpectedly, citing policy differences with the Democratic administration.
From CNN Politics
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Mr.Gregg this country is already bankrupt, maybe you had better wake up.Thanks to Mr.Bush.
Mr.Gregg this country is already bankrupt, maybe you had better wake up.Thanks to Mr.Bush.
If it weren't for people just like Gregg, using the system to line their pockets (as he continues to do with the former Portsmouth, NH military base turned into commercial property he and his brother largely control now), we would be able to face our children about their future.
That was along sentence, which is what Gregg and his type should be serving. Leave our country alone, leave our future alone, give back what you have jiggered out of the system, and hide yourselves.
Gregg is a wussie, and someone who put the interests of his party above serving his country. He voted for every idiotic law Bush put before him, so I think he is the last person that should comment on anything.
Again, Obama is showing that everything is his way. He knows nothing about budgets and is running amok. The garden at the White House is a publicity stunt. We are not stupid out here in the trenches.
If Judd Gregg cares so much about America's economic troubles, he should've risen about partisan games and joined the Obama administration. THAT is how you make a difference, now he's just sitting around and joining in with all the other unAmerican naysayers. Screw Judd Gregg, he cares more about his party than he does about America. That goes for about 99% of the GOP. Screw 'em and their opinions.
WHAT IS THE ALTERNATIVE!!! Do we just stimulate nothing and watch the country fall apart? Do we NOT invest in education? I'd ratther live in a broke country with EDUCATED people than a moderately broke country that has NO education system. And his anology is WRONG!!! It's like were are running out of fuel and their over the Mountians. There is no where to land, so our only hope is to try to find a way to keep flying. The other side has no soultion to this nations problems, bu they sure as heck was the cause!
Obama's liberal supporters will answer complaints that Obama is bankrupting us the same way they always do when responding to criticism of him:
1) He's just started.
2) People that don't like him are racist.
3) Bush, Bush, Bush.
4) Isn't Barry cool?
And meanwhile, our country IS going bankrupt. For Barry's supporters, the lights are on, but obviously no one is home.
Christina Romer this morning on Fox News was a distinctly underwhelming advocate for her boss, almost as mediocre a communicator as the clenched-teeth Geithner and testy Summers. Not that we expect economists to be entertaining, but they don't seem to be able to explain complex concepts in a clear dumbed-down way for an old lawyer like me, much less most other citizens.
The USA is bankrupt – morally, spiritually and now financially.
Do not put this crap on Obama. You people are responsible for this! We will not forget it. At least Obama is trying to get our country back where it belongs. You should have stopped bush!
Be a part of the solution not a part of the problem....will all the Repub talking heads please shut up!!!!!
Sen. Judd Gregg you have made a bold statement but I have one question that should be asked of everyone that criticizes Pres. Obama's plans.
Where is your "detailed" alternative plan to fix the economy, banks, autos and stop the recession?
Also please do not say "Tax cuts/credits" alone will solve everything including cancer.
Give me a Mr. Gregg is out there for the politics. Please...
i thought that was the red and blue plan it just gives the last of our money to different people who dont care about the country or its people.
Give me a break!!!!!Mr. Gregg is only out there for the politics and the media attention...He is the male version of Sarah Palin..
This country will be bankrupt......... Ya think?
Could have figured that out 8 years ago, idiot.
So, the country will be too expensive to live in, eh? Is that why the Republicans' only solution is to cut taxes only for the very wealthy, eliminate unions (thus causing ALL median wages to drop), further encourage insurance companies to drop coverage of people with pre-existing conditions, withdraw all funding for the arts, withdraw all funding for education, withdraw all funding for the environment, oh and invade Iran.
This is just the reason that Gregg abandoned his acceptance of the Cabinet post: so he can engage in partisan criticism while standing back and doing absolutely nothing to fix this situation.
In one to two years when the stimulus and other programs initiated by the Obama administration begin to bear positive fruit, the Republicans will realize that they had their chance to work with our President to make a positive change and instead they squandered it by engaging in the same old partisan bickering and obstructionism.
From 2001 to 2009, Judd Gregg literally rubber-stamped every failed Bush policy...and now Gregg is warning of a fiscal crisis? What an idiot! I don't know Obama could have considered this creep for a position in the cabinet.
Can we truly trust your opinion Mr. Gregg? You were offered a top position to help with rebuilding and regulating our economy, but you put personal ambition and party over choosing the best course for America. Now you spout a doomsday message mixed with some bleak optimism?
An below average IQ person can make the same conclusions you have. Again where is the meat and sustainable alternatives to your criticisms? Or is this just another attempt to manipulate the American psyche into fear and degradation?
"Known as one of the fiscal keenest minds on Capitol Hill"? His mind wasn't too keen when he was flailing around, first begging the Obama Administration for the Commerce job, then changing his mind for unclear reasons.
And he wasn't as worried about national debt when he was supported Bush's tax cuts and the $10 billion a month we spent in Iraq.
I think Gregg needs to get his GOP talking points right. No doubt he'll be apologizing to Rush Limbaugh for something next.
Newsflash buddy – we are ALREADY Bankrupt...
we are borrowing money from the chinese.
Just turn on the TV from time to time, you'll find these things out.
Where the hell was Gregg during the last 8 years?
This is very interesting that Gregg slammed the Presidents budget, but then says they are doing almost everything right, however not as definitive as he thinks it should be. I understand Mr Gregg to be one of the keenest minds on the hill. So in this time of uncertainty, not individually, but as a country, he had the position he is now criticizing, and bowed out cause of policy differences with the Democratic party, not differences with the President. I think he should have cast aside those differences and help get this country back to where it needs to be with his expertise instead of giving interviews slamming budgets. Just as President Obama said, "just say no is something you would say to children to help keep them off drugs." "If you have a different approach, share the ideas, but don't just say no and not have an idea or different plan to help with this crisis."
Charell WIliams.
Actually Mr. Gregg, we are already bankrupt.
Signs of collapse are everywhere - countless jobs lost, worthless paper money, countless foreclosures (both residential & commercial), businesses going or having gone under, and it hasn't stopped!
If true, everything he says was also true before Obama arrived. The new budgets includes, for the first time, the costs of our involvement in Iraq and Afghanistan–items that Bush left entirely out of the budget. Nobody believes the stimulus will have to go on for six years as the Iraq occupation has... We will likely be out of the economic mess before we're out of Iraq. This is just the first time we've been shown the budgetary truth.
This country is already "not affordable". What is this Gregg talking about? Americans are just now waking up and realizing that the amount of credit in their lives is unsustainable, and that's before we even get to the raging disco spending BushCo paid to themselves thru the Iraq and Afghanistan wars. How much is Bush worth? Cheney? Their friends and co-conspirators? Give me a break! Why not sponsor some legislation to track THOSE dollars and get them back????
An article critical of the administration...
Bring on the Obama cheerleaders.
And here comes all the slanderous comments, I can't wait... as if you people overlooked this line in the article: "Gregg, known as one of the keenest fiscal minds on Capitol Hill..."
Take his opinion for what it's worth. Obviously there are economists on both sides of the fence, but he is clearly a brilliant financial analyst and it makes you look stupid if you criticize him with your clear lack of knowledge.
Did Sen. Gregg issue similar warnings when the last administration (Republican) ratched up spending (e.g., $10 billion a month in Iraq and Afghanistan) and lowered revenue taken in by giving tax breaks? Didn't that also increase deficits? Seems like many Republicans have suddenly "got religion" in terms of the deficit, which was brushed aside as a topic of concern for 8 years.
I love how the very people who brought us this mess offer nothing but doom and disaster predictions and point blame at someone else.
Now there's a true patriot!
Too bad America didn't have this financial genius around when the previous President's administration continued "with its planned course on fiscal matters with unprecedented actual and projected budget deficits..." that almost doubled the national debt during the Dubya years.
I think Judd Gregg should just shut up!
Whom does he think he is?
An economic Guru or what?
If the country did not go bankrupt under George Bush. Why should it go bankrupt under Obama. From day one this guy called Judd had wanted to make a political point which did not work out well for him.
Refusing to work with Obama does not suddenly make you a Superstar. The fact that he refused to join the Obama administration
should not make him 'the Angel of Doom' He should keep his bad, doomy news and bad prophecy to himself.
God forbid it. America will never ever go bankrupt. America will come out stronger than ever before and all of you wishing failure for this administration and the great American people will be put to shame. God bless America
ah, a little late don't you think?? Last September would have been the time to come up with this. Now you sound like a partisan hack
Okie, as you can see he is a Republican, and he is just saying what every other Republican being saying.
PS: Is it me or Republicans seems to have forgotten they got us in this mess in the first PLACE!!!!!!
I am pretty OLD now, BUT, I remember my dad saying many times, "you have to SPEND money to make money " and all through the years I have seen that to be so TRUE..it is when everyone stops spending money that shuts down and bankrupts a family OR a nation ! think about it, if you want to earn money in stocks, you have to spend money to buy them, if you want to earn money from bonds, you spend money to buy them, if you have a buisness, you spend money to keep it going, better it etc...even our coin collection, we had to SPEND money to buy !!! NOT spending "will" indeed bankrupt our nation...
Let it crash. It's the only way to fix the problem.
This guy appears to have a pretty tempered view of the situation, as compared to many on the right. he is able to see that the correct things are being done by this administration in its attempt to repair this brocken economy. His issue may be more a matter of degree rather than direction. With any centerist government, these actions will be ramped up, as time goes on, and based on how the improvements are going.
I guess it's unfortunate that this guy could not join the administration and work toward improving the situation for the country. He was forced, by the GOP leadership, to put Party above Country.
I will ask this again and again where was the rush limbaugh party outrage when they rubber stamped a trillion dollar murder spree in iraq? why is the rush limbaugh party so against american investment?
Obama and the ulta-left are doeing this as a planned thing. They want to make everyone dependent on the gov. The want us to be like E.U. America will no longer be the america we now know. THEY HAVE TO BE STOPED!!!!!!!!!!!!!!!!!!
...let the desperate, hysterical, hyperbolic ranting of the pathetic GOP continue!
This guy's opinion is irrelevant. The GOP has sunk America, and now Obama has to revive it. The vast majority of Americans trust him. We DO NOT trust Republicans. I'm so glad we're not stuck with this spotlight-craving idiot at Commerce, and in 2010 we will add another Democratic senator...from New Hampshire.
Yeah, all those trillions for wars are ignored in this outrage. The republican party is a joke, this guy stepping down is the best thing that could have happened for the Obama administration.
Fear! Fear!! FEAR!!!
This guy is just another door-to-door fear salesman, chumming up the yokels with fear.
Even notice how much fear is thrown at you? Politicians and radio politics barkers churn up fear to manipulate you into doing what they want, Corporations make you fear just about everything so that you buy their "solution", the news industry uses fear to keep you interested and keep you looking.
Ignore the Great American Fear Industry! Ignore scum like Judd Gregg, who happily scares you so that he can manipulate you.
Sen gregg should have been more voiceforous when bush had 8years of war mongering.Tax cut was practised for 8years with no appreciable benefit,lets do something else senator.
What does he know–he's a republican who couldn't get into the cabinet. he's just mad about that.
Exactly. Obama is doing way too much. The economy and scaling back the wars on two fronts are the only things Obama should be doing at the moment. Once the economy is back on track, we will have the money to further pursue healthcare and education changes. His budget is bloated and the CBO is predicting it will have a negative long term effect in its current state. The American people are already looking at higher taxes from local and state governments. We do not need the Federal government adding more taxes as well. This will only lead to further downturns in consumer spending and greater job loss as a result. Obama should look at suspending the Federal income tax for a few months over the additional spending. This will put money directly into our pockets immediately. Even if we pay down our debts. Once the debts are paid, we will have more money to spend long term with cash.
So Senator- do you have any ideas or suggestions? I think any good logical input would certainly be appreciated by Obama and everyone else. But if it's just finger pointing, then it does no good.
Come up with one (1) ORIGINAL idea of your own Gregg. Can't do it?
Don't worry neither can the rest of your pathetic party. The party of NO. No clue, no concept, and no idea.
How could anybody come to a conclusion other than the Republicans have made such a mess of the economy that the Deomcrats cannot fix it so lets elect independents and see what they can do.
Rick
He is right, but no one will listen and it will happen anyway. Politicians are more interested in popularity than saving the country. What can we do? Probably nothing at this point. Elect congreessmen who promise to stop spending money in 2010. But will they keep that promise....no.
Thanks for voting him in guys. He sure took that scalpel to government spending like he promised in his campaign...
Are you stupid? the United states has been bankrupt for years. Ever since we adopted the false dogma of free trade and allowed all our manufacturing to be outsourced to slave labor countries we have been in a rapid decline into debt.
The fix is place all manufacturing back into the U.S. as every manufacturing site will also create hundreds of other jobs as wages are spent in the region. A 90% tax bracket is also brilliant as it will eliminate greedy CEOs from looting their companies and placing all that wealth in an off shore bank acount.
He had the opportunity to be a part of developing the plan that would turn this country around and he turned it down.
True men will be determined when faced with a great challenge. In the face of this challenge Judd Gregg chose to obstain rather than cross his "political party".
It is too late for the GPO to start crying foul on budget deficits. Amongst other things they allowed President Bush to keep the cost of the Iraq war off of the books for the last 6 years.
One of the reasons that Obama's budget looks so bad is that he is finally forcing congress to be (more) honest about how much money they are actually spending, but all of the problems that he is trying to deal with he inherited from a Republican president, so you can't really blame President Obama.
NOW the gop opens there eyes to wreckless spending
Kind of wondering what was you all doing the last 8 years ? Being the good loyal Bush people that Chenny instructed you to ?
Ah, what a cheery fellow. And where was this guy when George Bush was shipping trillions to his Wall Street buddies and blowing up hundreds of billions in Iraq? Oooh, I know where he was! He was on Capitol Hill, going along with every single move!
And his idea is.....?
The best way to save money is to reduce the spending in Iraq as soon as possible, and by getting an international coalition to monitor and secure the peace there. The billions that are being spent in Iraq week after week will never get back into the US. Iraq is a financial black hole for the US economy. On the other hand, a big part of the bailout money is an investment that has eventually to be paid back to the government. It stays in the US, and if the economy picks back up, a large amount will be returned to the treasury by the banks.
"Gregg, known as one of the keenest fiscal minds on Capitol Hill..."
Because you at CNN say so. It doesn't make it true. And it isn't true. Gregg is a slug...just like the other GOP senators.
If this person hadn't first offered to be Secretary of Commerce and then refused to serve, who would be listening to him?
Demagogue!
We can thank Alan Greenspan who, as Chief of the Fed, did nothing to rein in the abuses at AIG and who also fostered the packaging of sub-prime with valid mortgages in CDO's and SIV's. Then he did nothing to stop the issuance of worthless equity default insurance swaps issued by AIG. Had he done his job properly the present crisis could have been completely avoided. We are all also indebted to Mr. Bush who then appointed Henry Paulson to resolve the crisis. As head of Goldman Sachs, Mr. Paulson was responsible for helping to develop and promulgate the AIG scheme to issue the unbacked insurance of default swaps. Thus Mr. Bush put the Fox in charge of guarding the Hen House - great thinking !! This is the mess Mr.Obama inherited when he was sworn in. The greed on Wall Street had its day , the gorged finance folks departed and the pickings were left for the public to digest.
"Discipline" the bonuses?
What a lark. Back in 2008 the GOP leader fought hard against any limits on executive compensation... screaming about "govt keeping it hands out of the free market" and "intervention".
They all stated that contracts should be upheld.
AIG Bailout and Bonuses were put in place under Bush and Paulson. Any attempt to change that is revisionist history.
Senator Gregg 's comments should be heeded by Obama. Whether Obama realizes it or not, he is on a dangerous course that will lead to severe economic consequences. It is about time that Obama stops his campaigning and provides leadership to a country and to a Democratic control congress that we can no longer embark on name pointing and the usual political nonsense. The course Obama is on will result, without any doubt, to another great Nation being dismantled. President Obama lead us or follow us but what ever you do get out of the way.
Judd gregg like most Republicans seems to delight in taking the "sky is falling "attitude as President Obama strives to dig us out of the deep dark financial hole the former administration left us in. Nothing constructive seems to come from their mouths, The only thing I hear from the Republican party is doom, gloom and partisanship! A good part of righting the economy has to do with the frame of mind of the American people. How about sending a message of positive content once in awhile! The President has made perfectly clear that he is already working on the deficit problem, one the republicans left us and forced us into increasing in order to reinvigorate an enonomy bordering on collapse.
I watched and listened and did not hear a counter proposal or even a suggestion. I will pay attention when a plan is presented, not naysaying.
What a pathetic hypocrite ! His party spends 12 billion a month for
6 years in a pointless war with no exit strategy that drives our deficit
thru the roof , and the Republicans express no reservations about the spending and deficit . Now they are concerned !
Nor do they take responsibility for the failure of our banking system , which was a result of their willingness to let corporate America govern themselves . We see a crisis today that is the fruit of trickle down economics , yet the GOP is still singing the same tune that brought us this misery . A pox on them all , and I was a republican for 45 years .
They are the party of the corrupt and the irrelevant .
Obama is a very intelligent individual. He knows exactly what he is doing; knew what he was doing to win the election and nobody could do anything about it. By spreading fear he could destroy our economy (see Hitler's comment about "leaders should be glad men don't think") and he is well versed in Marxism. By over spending he can bankrubt our country and start anew – socialism. Of this there can be no doubt.
Why can't people see this??? They don't think and are easily lead by fear and hate or is it what our nation truley wants?
How about this one: We're driving from point A to point B, the gas light comes on (because the republicans gave us the car on empty), so in order to arrive to our destination (a recovered economy) we need to borrow some gas to allow us to get there (because the repubs cleaned out our gas money stash too). See, I can make analogies too. Mine even makes more sense. The repubs are trying so hard to sabotage the Administrations efforts.
The Obama administration to every problem is to Spend more without any accountability or proper Terms and Conditions. Obama himself is to blame for spending $170 Billion with AIG and not allowing congress and the US to read the Stimulus Package and ensure the proper Terms and Conditions exist to prevent fraud. Obama is bankrupting this country and selling the education of future generations.
Thank God someone has the conscience to step up to the plate and turn down an Obama job because he believes this Budget is a disaster in the making. Is this our next Presidential candidate? He actually DOES have change I can believe in!!
We disagree. JG states his opinion. He ain't no oracle ar a seer. In lieu of offerin' a solution, this GOP persona, like many other, is pathetically a pessimistic person, and his path is lit by unsmilin' bloke- Boehner, who is another boy with a belly ache. JG may say he is paintin' a poor picture, but we are sick 'n' tired of hearin' these sorts of soul-less speches. Come up with something more mirthful and try to cheer up the crowd.
Judd Gregg is correct. The US is running on empty. The American people are going to realize, and I hope soon, That the Obama administration and Democratic controlled house and Senate are going in the wrong direction.
It is sad that Judd Gregg is quick to slammed the President but if he would have stayed on the Administration he could have set the President down and talk about this same issue and bring some Republican gender in to cut the budget. I so blank sick of GOP slamming and condeeming this administration but not one saying how can the cut the budget nor was there anyone of them out in 2000 thru 2008 slamming President Bush who is the reason this economy the way it is now. I think the plan for Obama to win because they knew how screwed up President Bush was going to leave it. So next election they can lie and may like they had all the answer and President Obama put us more in debt. Good stratgey but it might want work because me and other's like me catching on.
What is the deal? Have all the Republicans got amnesia of the last 8 years? Have they forgotten the doubling of the national deficit after Bush inherited a surplus from a Democratic administration? Republicans, they can not think or remember.
This guy had a chance to be a solution but chose the GOP in just compaining hoping something will stick and they can get back in office. It is disgusting!!
The Lord works in mysterious ways aren't we blessed that for what ever reason this creep isn't in Obama's adminstration.
Sen.Judd Gregg with his foresight and knowledge; Why isn't He President? Is it because He couldn't sell the G.O.P. nor the American Public on his expertise?
Economic scare tactics. Republicans are a scary party where everything is always going wrong.
To the folks who voted for Barry –
The man does have any basic qualifications to be Prez.....
He is simply a motivational speaker (teleprompter required)....
Doesnt understand how to implement public policy....
Doesnt understand how to build coalitions....
Way out of his league.....
Hopefully, the 2010 elections will help move away from this madness......
Is this the same guy who asked for a job in the administration, then backed out????? And we're supposed to listen to him? Truth is, none of us have ever been through a time like this (including those that we have elected thus far). Even during the Great Depression factors were very different than they are now. Nobody knows yet what is going to happen. I would rather try and fail then never attempt to do something. These politicians are flailing around and making the American people even more nervous. Can we allow more time for things to happen. I've said it before and I'll say it again, this economy was not messed up in 3 months, we cannot believe that it will be fixed in 3 months.
I hope people can look past personalities, political affiliations, race, gender, manner and speech and listen to such warnings.
The time will come when we will have to pay the piper. Perhaps the greatest failure of our time and country is to no longer be able to delay our gratification. Our government is no better at it than we.
If we all love this country, as we say we do, and since the government uses us to ignore sound fiscal behaviors, than it is up to us to send a message to move forward responsibly and not attempt to do everything at once.
Some will see this as not supporting the president. Too bad because sometimes the best support we get from others is when they warn and prevent us from harming ourselves and others.
Be carefull Greg.........Comrad obama will have your name on a LIST. And you will face Grand inquisitor Franks!
Keenest Fiscal Mind? He must not take any advice or input then from others like NOBEL PRIZE WINNING ECONOMISTS! He doesn't have a keen fiscal mind then, does he? NO!
Republicans, who have run up our national debt during times of prosperity merely to enrich themselves, have suddenly discovered fiscal responsibility. If they had only discovered it during the Reagan, Bush1, or Bush2 Administrations, we might not be in this mess now.
They remind me of an evangelist who is photographed in bed with a 14 year old hooker. Suddenly, he remembers Jesus, demands forgiveness, receives it, is healed, weeps briefly on stage, and then expects to be reinstated to the pulpit.
it would have been better for us all if these so-called fiscally conservative republicans had managed the economy in a proper manner ... the national debt increased more under republican administrations than democratic ones and the amount of debt under this last one eclipsed all previous ones ... so why didn't Senator Gregg raise his voice more adamantly when his party was in control ... please let's move on ... republicans are now using fiscal scare tactics as they did terrorism ... at least to day, we have a leader who even in a time of crisis doesn't try to scare the public into concurrence with his policies ... and I'm one who believes this crisis is the best situation that could have happened to our society ... we had fallen into such a deep materialistic compulsion ... maybe now, we'll appreciate the values we ought to have in a world that is getting exceedingly complicated with a rapidly burgeoning population ...
Another scare factor from a Republican....
My question is to the media, this I found on another site and I quote from them....
AIG-Major media outlets yet to report IG testimony implicating Bush Administration in AIG bonuses.
False Republican claims that congressional Democrats are responsible for AIG exec. bonuses, major media outlets have yet to report Bush appointed special inspector general for TARP confirmed in congressional testimony that the Bush admisinstration Treasury Dept. knew about the AIG bonus contracts and did not insist on their abrogation as a condtion of AIG's receiving bailout money....
Could this be the reason all the Republicans are doing all this yelling and blaming everything on our President so their noise will keep the truth from the American People?????????
The only thing I want from Obama is his resignation. He is a clear and present threat to our country. From national security to economic security he is doing what he can to destroy us.
The whole mess is created from people living beyond their means. This is a mess started many years ago to allow people to sell things that people can not afford. If you wanted a car, house or anything else, if you didn;t have the cash you could not buy it. This credit scam is just that a scam for for lenders and certainly not good for buyers. We are now a credit counrty and as people learn that interest is money for nothing and stop using credit cards and try to pay cash the economics of the US will be better off as well as most of the people.
We can thank Alan Greenspan who, as Chief of the Fed, did litle to rein in the abuses at AIG and who obviously supported the packaging of sub-primes with valid mortgages in CDO's and SIV's. Then he did lttle to stop the AIG issuance of unbacked equity default insurance swaps . Had necessary control been properly implemented, the present crisis could have been completely avoided. Mr. Bush who then advised to appointed Henry Paulson to resolve the crisis. As head of Goldman Sachs, Mr. Paulson was deeply involved in helping to develop and promulgate the AIG issuance of unbacked insurance of default swaps. Thus Mr. Bush put the Fox in charge of guarding the Hen House !! This is what Mr.Obama inherited when he was sworn in. The greed on Wall Street had its day and the problems were left for the public to resolve
Gregg was smart enough to realize that Obama was just using him and he would have had to support corrupt policies of the Obama Administration. Luckily he decided not to become one of the Obama brown-shirts.
This country was morally bankrupted by first court rulings and secondly educational institutions that subscribe to only one ideology.
So-called Free Trade under both the Clinton and Bush Administrations destroyed our industries and the trial lawyers and unions made the costs of our products so expensive that we could no longer compete.
Now we have over 50% of our voters who pay no federal income tax and can elect politicians to take from those that do pay. Not a good scenario for the future.
Another Republican with complaints but no solutions. I miss Wolf, John King lets these guys say anything without follow up questioning.
this country has been bankrupt for a long time.
Would someone make Obama understand what is as plain as the nose on his face. Is he so dense headed he cannot count the coast of what this means for our future and the future of generations to come let alone the danger of our security when other countries realize fully that we are a very weak nation and if we do not have strong leaders we may as well kiss America as we know it good bye.
George Bush ...800,000,000 8 years , Comrad obama 3trill in 60 days and climbing. And if you oh so smart lefties can use a computer you can see and hear in their own words them dems that caused this mess. Yes the repubs failed to stop them and are as guilty.
If someone yelled fire or if someone warned of an approaching storm, would we stand and argue with each other until it was too late and we were trapped or would we take precautions? In looking at the postings, I would have to say most would parish and those who survived would blame the person who warned us that they did not warn us strongly enough.
Maybe we trying taking action now and argue after we get beyond this point? Hmmmm.....
Excuse me but this man has very little, if anyi credibility! He lied to get into this administration and lied to get back out!
Marsha – spoken like a true Obamist. You want everyone who opposes you to shut up.
We elected Obama to fix this nation, not to simply tread water and leave the fixing to future presidents.
We have to spend in the short term to boost our infrastructure, which in the long run will be more cost effective.
If America wanted to try the do nothing Herbert Hoover way of fixing our problems, we would have voted for McCain.
These former Bush yes men that ignored wastful and borrowed spending and are now posing as fiscial conservatives need to resign for the sake of America. They have been proven to be a major part of the problem.
Do not use fear !!! Only Comrad obama can use it !!!!
the george bush's war is the one that will bankrupt the country, not the new administration.
This coward has the nerve to come on National TV and say something that America figured out 8 years ago under GW Bush who left us in this swamp. Republicans are ABSOLUTE hypocrites. Its rule number 1 in the Republican creed to be a hypocrite. Thats why Judge Dredd comes on TV and spews his venom about the Budget. Americans are NOT STUPID; republicans we know who created this mess we are in another Republican. So now the President has to clean the mess up. Republicans will lose going against the President. They will ALWAYS lose against the President. His base is way to strong.
Too late, we are bankrupt and have been for some time and it happened on bushes watch. He just didn't admit anything was wrong till he was almost out of office.
typical repug, too little too late.
And yet the Repubs accuse Pres Obama of fearmongering doom and gloom speech.
America has been bancrupt in many ways, morally, fiscally, spiritually etc... yet now we are bancrupt for credit. The only answer is to save like never before and loan off our savings to rebuild a cash based economy. We must accept the fact it will take years to rebuild but by rebuilding on a cash basis we can last longer without another downturn!!!
And so it begins....
we the people need to rise in support of POTUS and the plan. for every head that talks against it, we need to have 4-5 heads for it. we have the numbers, question is do we have the guts to get out there.
i'll tell you something, this is going to be the way we have to show our representatives for the next 4-8 years. you MUST get involved, no more sitting on the sidelines
call, eamil, shot to your rep and let them know we want the change so our children and grandchildren WILL have a future
This is the same JERK that referred to Obama's plan as the "France-ification of America".
It seems that whenever REPUBLICANS and CONSERVATIVES want to appeal to their lunatic fringe base voters...they ALWAYS trash FRANCE.
Gregg is one of those "patriots" that pushed "Freedom Fries" and all that jingoistic NONSENSE.
The dude has ETHICS PROBLEMS of his own to worry about.
We needn't listen to JUDD GREGG for anything.
This political climate is unbelievable. Its as though the media and pundits never acknowledged Obama's win. Instead, they continued with the micro-mania coverage they did during the election. It wasn't 1 minute after a 5 minute Obama speech that the TV stations gave his opponents (who lost) more than 20 minutes in rebuttal time! What an impossible environment for Obama to get his points across! “Headed towards bankruptcy” and “almost unconscionable” for a long range budget PROPOSAL is a good example of the sensationalism that John King has brought to the table of late.
When do we call the election good and give our elected officials the due respect and reflective thought they deserve? We’re facing unprecedented issues and obstacles at the moment and could do without the losers getting higher priority and more air time. Let’s get back to providing more news (called FACTS) and less sensationalized “opinion”.
Adding 2 trillion of cash into the economy with the push of a button is what should scare you! Does anyone know what this does? Look at the US dollar over the last few days.
I agree – we cannot buy bad debts with more debt, since this is similar to a person who takes an advance on a credit card to pay their mortgage, and because of this bad practice, the eventual bankruptcy for the individual will be the eventual outcome for this nation, unless the President's course of action is changed – quickly, but, he is inexperienced when it comes to budget matters, and that is making matters worse...
Our masters in China are displeased with the country they own, called the US of A. We better get our stuff into gear if we don't want them to come over here and take us over!
Those of you who reply here to criticize Gregg the messenger....look at the numbers (rounded but close). The federal budget projection under Obama is about $4 trillion next year (Bush spent $3 trillion). All the taxes we pay in are about $2.5 trillion and likely less due to the economy. How can we pay that extra $1.5 trillion. There are new deficits every year so don't expect it from next year's taxes. We lowly citizens can't print money and need to pay this back in the future. Do you have your share of all of this in your next 30 years of personal budgets. Or your kids'. If not better redo your budgets. Stop all the email ill-will directed at each other. The crooks in DC come from all parties and in all shapes, sizes and colors. Demand they stop this.
Or more simplistically for those of us who can't fathom the numbers with so many zeros......YOU CANNOT SPEND YOUR WAY OUT OF CREDIT CARD DEBT. SAME APPLIES HERE.
Marx must be soooo proud .
Judd, you don't scare me none. When we build our roads and bridges, you'll drive on them too. When we fix our healthcare, you will be treated by our doctors and when we improve our schools, your grandchildren will attend them as well. So take your negative vibes and shove them down your republican throat.
Oh great, another "keen financial mind" predicting the future, just like all the other keen financial minds who were clueless 6 months ago.
Bush did not run this government into the ground, and our current president and his cool-aid followers need to understand that the true blame for the current financial situation rest squarely on the backs of every American who thought they had a right to an expensive house, car, and college education and then financed their lives and reputations to obtain them. The fruit of our collective greed is coming to bear.
the national debt increased more under republican administrations than democratic ones and the amount of debt under this last one eclipsed all previous ones
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And what part of "under the current Obama plan it will quadruple" piece are you not getting?? WAKE UP!
So Judd Gregg's answer is? Tax breaks for the rich?
Whatever is gone can't be recovered back. The banks are failing.
There nothing anyone can do about it.
What Obama administration can do is to rebuild the economy from scratch. This needs lots of money. There is no other choice if we wish to support the current populations.
PLEASE STOP ALL THE BLAMING GAMES. This only creates chaos and won't help much. Get back to work and build the economy back.
Sir, With all due respect , you are not an economist. Just a petty politician. Here's why petty. If you believed in your love for the country and belief in your doomsday outlook, you would have taken the opportunity to serve in the position you were offered and did your best to prevent bad things from happening. But you chose to run to the audience side and yell bloody murder from there.
I believe you may be right to some extent. But you, sir, are a looser and deserve no audience.
My comments seem to go into cyberspace as do not even get to the moderation mode. Will not repeat all the questions I had for Gregg as know they will not get posted . So much for freedom of speach.
He had an opportunity to be part of the solution and chose the typical republican path of divisiveness. The bankrupt country started under the Bush policies, implemented by the republican party. These type of comments do nothing to build confidence–something the market needs.
The worst part is not the steam ship going down the river with a waterfall ahead, it's the people on the ship that don't care enough to open their eyes.
I am sick of King and his Republican. Can't he at least pretend he is non-partisan. Perhaps he should consider going to Fox.
Yes, the wars were/are incredibly expensive. But this Democrat leadership spent MORE in ONE "Stimulus" bill than both wars cost through 2008 COMBINED!!! A little fiscal responsibility is all I ask from Repubs and Dems.
People have already lost 50% of their retirement funds. Now, people are saving money away as cash. Due to government over-spending/over-reaching inflation will devastate the money that is saved.
Its hard to climb out of a whole by digging deeper.
dave b: George Bush …800,000,000 8 years , Comrad obama 3trill in 60 days and climbing. And if you oh so smart lefties can use a computer you can see and hear in their own words them dems that caused this mess. Yes the repubs failed to stop them and are as guilty.
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Nice little "disclaimer" there at the end of your comment, Comrade.
I love you guys who act like YOU were on neither side.
No doubt YOU are REPUBLICAN trying to EVADE the "personal responsibility" of the FAILINGS of YOUR PARTY'S economic policies for the past eight years.
The PROBLEM with The Conservatives and Republican Party is they TALK about their "principles" but, they do NOT practice them.
The Conservatives have had sitting Presidents in office for the past 20 of 29 years but...to listen to them...you'd think they weren't there at all.
Where was Gregg during the 8 years prior to Obama taking office? Why didn't he comment then on the financial and moral bankruptcy the US was being driven into? Could it be because he is just another Republican politician, putting his bankrupt party ahead of country? What alternative does Gregg propose? Letting the economy continue spiraling down into oblivion, like an idiot pilot who gives up trying to fly the airplane because he thinks it's going to crash instead of taking control and saving the day?
As has been earlier said of these Republicans, they have no standing when it comes to fiscal matters. For eight years the former administration has driven this country into the ground and only now these folks come out of the woodwork setting their hair on fire? What happened to saying something when they were in power? Sorry, it does not wash with me as it appears that screaming "the sky is falling" at this stage of the game is purely politics and their ilk is merely angling for another form of holding power.......even if it would continue to take us down the same path we have been going down. Shame on these rascals, shame.
I'll concede that the folks who got us into this mess and those hoping to get us out of it have far greater knowledge about economics than me. But when I hear $50 TRILLION as the long-term costs of JUST the health care system (forgetting about education, defense, energy, roads, etc.), I divide that figure by, say, 100 million American households (figuring 3 per), and I get $500,000. The figures bandied about in the media seem a blend of reality and science fiction.
Thoreau once said, "Our life is frittered away by detail... simplify, simplify!" Worldwide and within-home economics may be forcing this dictum. It's an act of faith that I presently support the direction (and means of attainment) Obama wants to pursue.
Remind me please, did Gregg cry the word 'bankruptcy' when we spent a Trillion dollars in Iraq? That spending does not invest in our own future prosperity, only to feed a few defense companies. So many poor young boys in small towns in the mid-west had to go to Iraq to send some dollars home because they could not afford college and could not find a job. Aren't you alarmed? Republicans just don't get it or just being greedy?
We would have to be dead not to know the country is in trouble.... but I find it hard to trust this man, Mr. Gregg, who signed on with Obama... and then when he thought his party could make use of him... and the President was out of town... with drew his name..
this is a game player... rather than someone who cares about the country
We would never have these problems if we had a better press corpe.
Politions would do a better job if the press held the politicians accountable with a report card. Today the politians get away with murder and they only work 50% of the time.
Good example with all the problems in this country and in Washington, Congress is going away next week for a spring break for
2 weeks. It must be nice. Some even though supposedly are working, 80% of them you don't hear a peep out of them. They're asleep at the wheel, and the press doesn't wake them up.
Sorry state in this country.
you have to spend money to make money ? True ... money not un ending credit. No thanks Comrad
I don't think there was any way to avoid it. No bailout or stimulus bills would also not have staved off the crisis.
We can thank our politicians for years for this. All they are clearly concerned with is scoring political points.
Mr. Gregg was conspicuously absent when the Republicans were spending away a record surplus.
Let us all know when the republicans grow some credibility.
It is always interesting to listen to Conservatives on these threads make a comment like Obama is "dense" or in anyway try and tie him to this economic mess with 60 days in office. This from the party of W. and Palin. Dear God in heaven conservatives is your hatred and insecurity so great that you won't even give this man (Obama) a chance? And usually it is a $10 dollar an hour schmoe who actually works for a living with some kind of prejuice that thinks the republicans will better represent his or her interests (think Joe the plumber here).
The Constitution defines treason as specific acts, namely "levying War against [the United States], or in adhering to their Enemies, giving them Aid and Comfort."
that video Obama sent to iran sure must fall under the aid and comfort zone, he does not speak for me
It looks as though God finally got around to giving the American people a bang for their buck!!! Americans are more deserving of this calamity that has befallen them than any other snooty people on God's green earth. All this reinforces my belief in the Almighty!!! This among global warming are two of the most precious gifts to befall America. Now this country is going to have to live like most other world countries have done in their past at one time or another. Very good learning experience for golf playing jellyheads!!!
Get rid of the Federal Reserve and the centralized banks! That is the sole answer to solving all of our problems. Give the American people a currency that is not subject to an unneeded interest rate by the only untouchable monopoly in the United States. We will never never make it out of this recession unless the government actually starts working in the interest of the people and the way to help is to get rid of this entity that has sucked this country dry since 1916. How will we ever die down the national debt when we will always owe interest to an institution that is unconstitutional and is founded on the economic slavery of our nations people. We have payed for too many unnecessary government programs run by a government that spends in the interest of politician, CEO's, bankers, and silent influences etc.. rather than the interest of the constituents that brought them to power. I find it sad that I am 17 years old and can see through the deceit that eludes the vast majority of american citizens.
Blame Bush, blame the repugs all you want, but the truth is that CONGRESS has done this to us. The real blame rests with both parties and especially the american people for voting these fools back into office year after year after year. Go look at the spending bills and tell me why the american public should pay 1/2 million dollars on pig farm smell clean up or whatever. Until " we the people" take back our government nothing will change and the country will become irrelevant.
If anyone thinks that one party is solely responsible for this mess, then you need to wake up. This has been happening for a long time and both parties are to blame.
The war in Iraq has not helped at all and it has been a lot wasteful spending. I know all of you who are big on "War on Terror" think that is a statement that is non supportive, but that is not the case. FOr those that have been there, you see the wasteful spending in the contractors and other things that have taken place under the radar. It has to stop and we need to get out of the area or it will turn us into the bankrupt Russia just like the middle east did to that great power.
Our leaders better wake up and take control of the peoples interest or there will be a revolt in this country that will make the "War on Terror" look like a july the 4th firework display. We are in so much trouble and so deep in debt that we are in desperate need of a new form of government.
John King is peddling a Republican propagandistic agenda. Judd Gregg knows not of what he speaks. Unless he was around during the Great Depression, he needs to close his mouth. No one in this country, nor our government, has ever experienced anything like this before. What happened in the past sometimes acts as a gauge of what could happen again, but there's no guarantee that history will repeat itself. There has never been an African American president in the history of this country.
There is a transparency of government that is unprecedented in this country. No one was paying attention to Bush. Had they done so, there might have been a "whistle blower" to alert the country to its pending collapse.
Republicans have used the psychological manipulation of 'fear' for so long, that's it's become second nature. However, common sense should kick in at some point, and cause intelligent citizens to realize that the McCain they saw during the last election, was their brightest and best. Most Americans now know that they, (R) offer no hope for the future. In short, anything Judd Gregg says should be judged as fallacy.
Every Republican who supported the neo-conservative agenda should be put on trial for treason. They sold the very fundamentals of this country down the river starting in the Ronald Reagan administration. Put every last neo-con in Gitmo, as they are the true traitors and enemy combatants attacking America.
Senator Gregg,
Here is a plan to cut the spending and that is for all of Congress to work for $1.00 a year and cut your their staff by 50% and pay all of their health care cost. Also Congress should give up there pensions after they leave Washington D.C. Look at the money that would save the American tax payer.
Please the GOP sends out a different person each week trying to sell the same old gloom and doom give it a rest please.
Yeah, I remember Judd Gregg warning us back in 2003 that Bush's policies were going to bankrupt us... oops, no he didn't, never mind...
Senator Gregg,
Here is a plan to cut the spending and that is for all of Congress to work for $1.00 a year and cut their staff by 50% and pay all of their health care cost. Also Congress should give up there pensions after they leave Washington D.C. Look at the money that would save the American tax payer.
Please the GOP sends out a different person each week trying to sell the same old gloom and doom give it a rest please.
HELLO!! Bush did spend too much in 8 years, repubs are the first to admit it. So that makes it OK for BO to triple that number in 60 days??? His priority should be the economy!! Not March Madness, not Jay Leno, not healthcare!! Quit pretending you are still campaigning and be the president! His 2010 budget has a 8% spending increase- we don't need that now. What happened to his promise of evaluating the budget line by line..... it turned out it was to see how much he could increase it by. I am very afraid for my two year olds future!! Thanks to BO she is already in debt!!!
Gregg is right on with his prediction. I don't think the people voted for change we can become a bankrupt nation !!
May God have mercy upon each one of us!!!
Winston ...... I noticed you did not dissagree. And by todays standards JFK would be a rebulican.
The republicans were behind Bush every step of the way as his policies dug us into this hole. Now they block every thing Obama tries to do to save us. In order to get out of this mess we need affordable health care, a forward looking energy policy, and to secure bank and credit system. If we don't fix all that, our recovery will fail. And unfortunately it will cost money.
The Republicans want us to fail, because all they care about is regaining power, so they can continue to push their backward looking dogma down our throats, just like they did for the past 8 years. Gregg and his party will say and do anything possible to undermine the will of the majority of the American people
Do Repukes ever offer counter solutions or is complaining the only thing they know how to to?
Who votes for these out of touch, old, rich people into office????
Where was Gregg's voice over the last eight years when the Bush administration was cutting taxes and increasing spending big time? Our national debt doubled under the Bush administration. SEC Cox did not do his job of regulating, so all of this was just allowed to build up. Credit card companies were allowed to give credit cards to people who didn't have income, mortgage companies were allowed to sell mortgages to people who didn't have the income. During all of this, we never heard a peep from Judd Gregg.
If China decides to no longer finance our debt, we will be in real trouble. There is a danger of the dollar becoming devalued. But economists don't agree on how to handle the mess the Bush administration left. We've never been here before. Fiscal policy was no longer effective and most economists said we had to try a large stimulus program. There are as many voices saying the stimulus is not large enough to affect our trillion dollar economy.
President Obama's budget at least makes a pretense of including known costs unlike the Bush budget that never included the costs of the Iraq war in any of its budgets.
Well if it does go bankrupt you can thank Bush for that. He set the course just like he did with everything he touched.
Hey! Wake up! I find it unbelievable that there are people out there willing to be financial lemmings, hurling themselves, their children, and their country over a cliff.
The fact that yellow is yellow and green is green are not partisan issues and neither is this. We're not talking about numbers that the Republican's made up out of thin air. We are talking about CBO numbers!!! You know the NON-PARTISAN budget oversight agency, or haven't you heard of it??? Using these NON-PARTISAN numbers, there is not one reputable economist that thinks that the level of debt incurred by Obama's budget "plan" will bring anything but financial ruin. This plan has more percentage of debt in it than even the most liberal of economists find acceptable. These are just the facts and the reality of the severity of the situation.
You know, for the longest time I've thought that the Obamaniacs were living in a world of suspended reality. Every day they show, more and more, that this is true. Reality means nothing to them because dammit, "Yes we can...turn green into red! Yes we can...continue life as we know it on this planet without having the Sun! Yes we can...teach fish to live on land! Yes we can!"
You have to love Republicans who mentioned nothing about deficits during the last eight years, when Bush ran up records amounts of debt. Now, reduced to afterthought status, there is all of this whining about 'fiscal responsibility'. Too little too late. Get on board and work with the administration to save the economy. Your legacy is already in tatters. Try to salvage a bit of it as you fade into the historical wastebasket.
I'm afraid if we don't do anything about the financial chaos will sink.......so Mr. Gregg once again is willing to criticize but offers no real solutions to this mess were in.
And Senator Gregg's suggested solutions to fix the economy are what????
All mouth and no trousers – that's exactly what these critics are. If you are so convinced that these plans are going to devastate the country – then please, share your genius ideas on what alternatives will work?
Put up – or shut up.
Gary Fortier wrote:
"Why can't people see this??? They don't think and are easily lead by fear and hate or is it what our nation truley wants?"
Talk about the pot calling the kettle black! I guess you never noticed that anytime anyone raised opposition to anything Bush and Cheney wanted to that the level on their ridiculous threat meter ticked up a notch or two. People don't think and are easily led by fear and hate? That is the Republican way of governing.
Allen, SD....well said!
To dave b: Wow, your mindset is so far to the right it's pathetic. Bush's spending was in the trillions too. His war is what got us in this mess. And Obama is not a "comrade", apparently you are with your narrow mind.
Gary Fortier wrote:
"Why can't people see this??? They don't think and are easily lead by fear and hate or is it what our nation truley wants?"
Talk about the pot calling the kettle black! I guess you never noticed that anytime anyone raised opposition to anything Bush and Cheney wanted to that the level on their ridiculous threat meter ticked up a notch or two. People don't think and are easily led by fear and hate? That is the Republican way of governing.
Obama asked Gregg to be part of administration and be part of the decision making process and recovery... he choose not to...
Previous admin. (Greggs administration) knew the plan was out of fuel for years, they crash landed our economy and now Obama has to clean up the wreakage.
This GOP Senator has investments in Exxon, Squibb, Pfizer. Look at his earmarks for Pease. NO NO NO NO.
Fed up
If Judd Gregg actually cares about helping the economy, he could start by convincing his fellow senators to confirm more of Barack Obama's nominees to the Treasury Department. Currently Timothy Geithner is the only nominee confirmed to that department, so he has no staff to help him out, only career bureaucrats who served under the previous administration. People expect Timothy Geithner to work miracles with the economy, yet he has nobody to help him out. The Senate Republicans, with their 41 seats out of 100, have been able to block appointments using holds and filibusters. Senate Republicans, among them Judd Gregg, appear to be deliberately sabotaging the United States economy with their efforts to block people from being confirmed and their efforts to block anything to solve our economic crisis. I do not trust them one bit, and I suspect that they have ulterior motives: they oppose the President's economic agenda and are probably hoping for both it and the economy to fail, so they can win the next election by saying "I told you so". This entire crisis was caused by Republican policies of deregulation, so I doubt the Republicans would do any better than the Democrats at fixing this mess, since their only ideas regarding the economy seem to be tax cuts and deregulation, which had already been done to death throughout the 12 years Republicans controlled Congress.
i agree that the president is not perfect however i like many americans are still waiting to hear the "other" plan.but please don't say tax cuts for corporations and the wealthy that got us here,along with lack of govt regulation.Gregg declined to join the administration due to ,his wirds"disagreements over how to do the census" not spending policy.btw republicans,if Bush wasn't to blame for 9-11after 8 months in office why is Obama to blame for everything after 2?
To all the Judd Gregg bashers, a sincere question: Please explain how increasing the Federal Debt at an exponential rate over the next ten years won't lead to disaster. I'm not saying anything bad about Obama, but if you just look at the debt he's running up – he's no different than W. Like Malcolm X once said "Math never lies about the truth"
The commie party is so fun . Pelosie saying illegals are patriots and law enforcement is un patriotic . Comrad obama making sure the US goes down in its standard of living.
All hail obama
This is true and it does not take a math expert to figure it out. America needs to wake up before it is too late to do anything.
Just another Republican flapping his jaw to show he's with his team in bashing everything Obama does
Yawn ... wake me up when a Republican says something useful
Thos who blame George Bush here are ignorant. Our country is bankrupt under Obama's watch and Democrat congress since 2006. We never had any problem with our economy. Obama is still campaigning & having parties in the white house every evening and this side our country is getting bankrupt. Wake up America. Those who still support Obama are ignorant and their brains are white-washed by Barack Hussein obama.
This is the first question posed by CNN to ask a REALITY based question. Any country in the past that has experienced hard times and has been able to recover has done better since that time. Frankly, I am doubtful that such a whimpy country as the US will be able to survive. I am quite shocked and awed by a meager 232 year existence. I hope that I prove to be wrong on this, but the big BS bubble that has floated the more or less presently sex-crazed child-minded American psyche since around 1953, when Truman left office has not been the kind of progress that this country has needed. Truman was the last very good president. That year...1953 was a pivotal year in what this country would presently become. I hope that I am wrong where it is heading...
uhm werent the Democrats in charge of Congress for the last 2 years of Bush? Isn't that when things tanked (check markets timeline)
"Gregg, known as one of the keenest fiscal minds on Capitol Hill,"
if GOP-bashing CNN says this compliment, then we all better be afraid.
plus I just love how people say we're already bankrupt so lets just get more bankrupt. I thought we hired Obama to SOLVE the problem not make it worse
Okay.... first, instead of listening to the Republican Chicken Little cry the sky is falling.. why don't, we second, allow President Obama a little bit more than 2 months to save the world!
And I do agree with Anonymous that Bush is responsible for this economic melt down! And he sold your country to China a long ago!
Obama has said that things may get worse before they get better! Economists have said that things most surely get worse before they got better! I, personally, do NOT agree with some of the things that have happened lately. I do not necessarily believe that Obama is responsible for the instances in question. I am willing to wait and see if that is not part of the plan that we are not privy to see just yet.But I do believe that it is only fair to allow Obama to work through this. We surely gave Geo W. Bush every opportunity to do WHATEVER he wanted to do. I never heard that much outcry that he was destroying the Nation, though frequently that was what it seemed to me. It was not until Katrina that people began to see that the Emperor was wearing no clothes!
This guy is a coward and he has no shame coming out again to run his mount. He is even affraid to defend his re-election in 2010
It seems that this country has been in a mess starting back with Clinton but more over when Bush came into office. now with the new President, he will have to so what ever it takes to bail the last two Presidents out. I t is a shame that ll these people who seem to know what a mes this country is in did not speak up when thy knew what was taking place and before it got to the point of bail out. AIG shoul be sued by the people of the U.S and any of the administtration that is left over from before should be put out of D.C eliminated from any part of the administration, clean house and get some that are some what honest and caring about the country but will try to do the job they have been elected to do not just line their own pockets and repay favors they agreed to.
Hey BC I'm going to join you in Texas , You need to move to the right to get along! Listen to comrad obama . Moving away from your beliefs to get along is GOOD.
His comments proves he is all for himself and career vs. being for his country. He had the opportunity to have the president's ear and put his expertise to work in order to turn this country's ecomony around. The president is not George Bush, his ears are burning for solutions. Why would someone so full of advise step away from this opportunity, I SAY IT'S POLITICS!! By the way, should Mr. Gregg have try will all his might to burn up George Bush's ear and if not his the press all those many years he was in office about this catastrophe? Now it is too late he is just a talking head in my book!!
intexas....
I have no hatred or insecurity towards Obama. I have an education and a free thinking mind to realize we are desperately headed down the wrong road. Printing all these "Barry bucks" is not going to help this economy. I am a patriot who firml;y believes in our constitution and why this country was founded. Not for big government.
RCTornonto....
Would you like me to tell you what is wrong with Canadian health care? Does your country have security concerns? You don't have the same issues and the US has no choice with our boarder to step in when needed.
John King lost his credibility or to make me listen to his sunday morning program because he allow the republicans to be the talking points of his Program and block President's agenda and crusifing all his administration staff!!
he didn't join the Obama team because Obama showed his hand...it was an empty gesture. He took Commerce control to the White House.
The Bama has his zombie's out this weekend trying to drum up more support...his 'army" as he calls them...sounds more like the facist brown-shirts of the late 30s and 40s...
Wanna know whose fault it really is?
Ours, by electing and re-electing representatives of either party who stop representing the American people once they're in office and we do nothing about it. It's our fault when our politicians ignore us when we want our borders secured, balance the budget (we have to live by one) illegal immigration laws enforced, compliance with the Constitution and we do nothing about it.
Senator Gregg is making sense. I wish he would reconsider taking that job he was offered in the Obama Administration. With his clarity, he could actually help our country out of this mess.
First, People are scared because they think Obama will keep spending like this forever. That's not his plan. Obama will cut way back on spending once the economy gets back on its feet.
Second, tax cuts have the same effect on our deficit as spending. They both increase the debt.
Third, nobody talks about how big the deficit would be if we didn't stimulate the economy. Increased unemployment benefits and decreased tax revenues will also increase the deficit. So if spending stimulates the economy, it may not increase the deficit over what it would have been with no stimulus.
You neo-con dogs bankrupted this country. Save your "God and Hate" and pius indignation for someone who is buying it. Kiss off.
This proves that Obama has an agenda. He does not care what happens to this country as long as he is able to push through his ideology. I wonder if the people who support him now will support him when they continue to be unable to find a job. I think we are looking at a one term president and things may change drastically in 2010 when people go to elect new reps.
Reaganomics has already bankrupt America. Those of us with rudimentary math skills have been awaiting this grand realization for 28 years. I'm just thankful that our current president isn't an idiot, maybe the country can still be salvaged.
...btw...the non-partisan CBO has said the same thing...there is too much money being spent and not nearly enough will come in...this is common sense people! You can't pay for your house and insurance, nor can the government, with empty campaign "Hope" checks...the charade is over...time for real thinkers not cocktail hosts.
Ah, John Kings strikes again. First Dick Cheney , now this guy.....
Fox Junior with exquisite reporting, LOL
AIG took on bad debt. Government bailed them out. Government is taking on bad debt. Who is going to bail out government???
When will people learn from of history?
Eli ... dems don't let facts get in the way of a good Bush Bash.
Obama is using stats like a drunk uses a light post ......for support...not illumination.
Commie Obama? Comrade Pelosi? The comments by some here are so delusional I really wonder about the sanity of this nation. To save mine I'm saying buh bye.
Well, except for Anonymous' comment I had not read any of the others. I am very well pleased to see that almost everyone agrees with me. And I wager that most of the Population of this Nation agrees with us... well, of course, except for the ones who are swayed easily by Rush Limbaugh and his ilk (Republicans). Please, CNN, pay attention to most of us! I suspect we are more of a barometer for the rest of the Nation than Republicans and Right wing Fanatics!
Im so tired of the Pharisees-I agree with anonymous we are already bankrupt–40 years of the right wing gutting has brought us to our knees –everyone except the right knows this. First we had chicken hawks ready to fight wars with your body now we have chickens clucking away about Obama just shut up Gregg you were part of the collapse lining your pockets at the peoples expense–then when you had the chance to have influence and actually risk something you hid–now coming out and "prophesizing "what took place under rethugs. This is the problem just like Palin blasting obamas mis step on leno just after she CUT spending on special olympics and special needs kids
Bankruptcy of the United States of America is inevitable.
Period.
The sooner it happens, the better off we will all be.
I say DEFAULT NOW!
1. The leadership of this country had to do something to keep the economy from continuing to dry up by ending the reverse multiplier effect as people spend less leading to more layoffs, business closings, foreclosures, etc.
2. Economic planners emphasis that the objective is to get the ball rolling now with large amounts of stimulus and then later rein in the hefty deficits and related spending to avoid major inflation and large deficits. A strong economy can grow its way out of deficits.
3. Most critics only want to talk about the increased spending aspects and downsides, not the down-the-road adjustments we all should hope are implemented at the right time. If so we may well get away with this tightrope walk.
It may not be such bad thing for the country to go bankrupt. We could use a fresh start. We could come out of it with a different set of priorities. Part of me wants to say to hell with it, and sit back and watch us all drown in a sea of our own cellophane wrappers and bio-degradable packaging peanuts. We could stand to learn our lessons about greed. When I was younger, I spent every penny that I earned trying to buy my way into the American dream. While America encouraged me as I spent my way into certain oblivion, luckily, she also forgave me in the way of bankruptcy. If I still had to be burdened by the debts of my inept idealized youthful overspending, I wouldn't be contributing much to the economy, well with the exception of helping fund the creditors of hospitals and payday lenders. I guess what I am really getting at, is that wherever we end up, we need to make sure that it makes us look back and learn, and while being somewhat unrelated, yet tied into the democratic life cycle, we must also remember that no democracy has ever lasted past the 250 year mark without drastically changing or dying out. May we be the first!
I am not a war monger. However on the Truman comment made in a previous comment, the US has had the greatest weapon ever devised by mankind. Having such as weapon and allowing religion to keep it from being used when it should have been on several wars that we have had in the past, is a mistake. To be the strongest country in the world, as we have prided ourselves, one must resort to using our best weapons in wars that we are involved in . Our decisions to not use atomic energy in our last three failed wars have cost us deeply. Now the rest of the world views us as cowards....and HELL...they are on the Mark!!! Our economy is secondary to this problem...in a sense it has been created by our ignorance...Lord Byron in 1826 made the remark "Wealth Makes Cowards of US all". Was he not right???
I am not concerned in the slightest. Obama has integrity. He has carefully employed very skilled advisors. His campaign was run exceptionally showing exemplary decision making and ultimately, the underdog by a long shot won the prize. He is a smart man... he is calculated and watchful. It's also been 60 days. He's done more in that short time than Bush did in his last two years. Those that choose to scrutinize and insult are making no effort to support the efforts to get this country back on track. Stop the stone throwing people. Start the effort to rebuild. We ALL played a role in this. We ALL will have to play one to get out of it.
Where was Sen Gregg over the last eight years when the Bush administration was spending billions in the unnecessary war in Iraq, tax cuts for the rich and bind bogglinh de-regulation causing the crisis we are in today? Even if is concerned, I don't see only finger pointing and no alternate suggestions here. It is funny that we never heard one peep from him during the Bush administration.
lb,
Don't give us the Constitution and free thinking BS. You don't know much if you try to defend your stance.
If you know anything about an economy it takes money to go around. Noone. Not a soul is spending. Thank god our government is bold enough to spend money otherwise we would have filed for bankruptcy already due ot the GOP's ruinous reign.
Lets not revise history. This problem is Bushes and the GOPs not Obamas. He is the only one that seems to care that our country is not going into the toilet.
If Judd were in office, the Dow would be at 4000 and falling.
Well I don't agree with any of that.
Judas has something to learn from the Senator
Where was Senator Judas when Bush killed innocent people in Iraq and bankrupted this country?
Senator Judas was partying with Bush... literally... they are in the same "party"
It is not about judd gregg, it is John King with his program that caters for the republicans. He just married Danna Bash and both can not be trusted!
Have all the Republicans forgotten about the last 8 years when Bush was in office running this country in the ground, fighting a ware that cost $10 million dollars a day when that money can be use right here to fix some of the problem that we are having, If this country go bankrupt is it the Republicans fault. Please post my comment
What is wrong is that if we hadn't wasted billions on a fake war in Iraq this country would have had the financial resources to face this crisis. We entered this crisis broke because of the deficits caused by the war.
Another reason to string up Bush Cheney and the Republicans who rubberstamped the war and wild spending of the past 8 years.
Thanks for the comment Tristan. That's all that is needed to be said on the matter. If Gregg is so opposed to Obama, why even accept the position then retract? I bet his record couldn't stand the vetting process as to why he flipped the script.
Did George W and his lackeys have a hand in the current mess? You bectha! He along with most of his recent predecessors. But that doesn't change the fact that Obama is clueless and any more of his mishandling is going to screw us all. This is just the tip of the iceberg and at some point Obama is going to have to own up to his decisions and jump off the blame bush express. The reality is about to set in, and I don't feel like paying 10 dollars for a loaf of bread. The rules are simple, don't spend more than you make. This holds true for the simple American home, as well as our monstrous federal government. Regulation, or getting more bureaucrats into overpaid government posts to jack up more decisions helps nothing.
Gregg has no credibility at all....the fiscal problems were caused by lack of regulation under a republican controlled administration/congress.
Why didn't he do or say anything 8 years ago?
This is all about politics and only makes the republican scumbags look worse!
Suck it up repubs. You are going to be paying the price for being irresponsible for a long, long time.
I thought how this State of the union Program was a good Program and a nice well Prepared Program till I figured it is a Republican talking heads opportunity.
John King we know you are a republican who can not be trusted!!
Who knew this man before he was considered for commerce position? First he wanted the job, and then he did not. His lack of decisiveness and fear of the GOP makes him totally not credible. Suddenly he thinks he is relevant? All this hypocrisy about the deficit.
Again, i ask, what happened to their voices the last 8 years when education, healthcare, the environment, our rights, etc., were sacrificed because of the occupation of a country that did not produce 1 single terrorist on 9/11.
I think that on Nov 4, 2008, majority of Americans told the Republican's to take a hike, at least for the next 4 years.
And someone needs to tell John McCain that he needs to go into retirement.
I am tired of these republican senators criticizing the president's plans but offer no solutions. For years they've agreed with bush and his policies. All of a sudden they have a voice. It is very clear to me that republicans are serving the have and the have mores. They could care less about the average citizens. Republicans are for the rich and special interest groups. Mr Gregg you decline to work for the president so your way of having imput is to criticize.
Any one with half a brain knows that the only way to straiten the problems out in Washington is term limits.I believe two terms for Senators and four terms for the House of Representatives. While they serve their bills should be paid and Family taken care for.That way they go to D.C. for the right reasons. If the leave in four years the crooks who operate for big companies don,t have time to corrupt them.
Thank You
Jim N
Yeah, just keeping blaming everyone and doing nothing...isn't that what politicians do and that includes the Obama team...all I hear is we are in a the worst mess since the Great Depression and he didn't inherit this mess...that is correct but he is the only President I can remember that keep using that for an excuse instead of fixing the problem...and he should have thought of that before he flew back to Washington to vote on the bailout, which he did, then voted for a Stimulus package with all these earmarks that do nothing to fix the economy and now a budget that is 3+trillion dollars. Yes folks Obama is building big government and all of you who believe that is they way to fix our country deserve the outcome. The bad part of it is for those that do know and can figure it out and we end up sharing the fall of our county with you. Oh wait I forgot Bush is holding gun tto the OBama team and making them sign all these bills and hide the bonuses to Freddie/Fannie/Goldman Sachs/ Merrill Lynch.
Judd Gregg is a good man with good intentions (as almost everyone is; even Limbaugh & Bush are), but I still slightly disagree with his claim. I believe that spending should be controlled, but it is still somewhat necessary for the survival & revival of our economy at the same time. We should also teach the people more personal responsibility than far-left liberals prefer to teach, but (at the same time), this is America – we stick together & help each other, through thick & thin. That is what America is mainly about (besides democracy & equal rights for all). Long Live the United States of America!!!!
John King, his wife Danna bash and his newly born child(STATE OF THE UNION) can not be trusted. They are republicans who are not hide their true bias.....
From last sunday I thought why should I waste 9-1pm or 4hours listening to republicans talking head and talking points. I think I had that for the last 8years and that was Enough!
Where was Judd when the Rep had to vote in giving the first bailout under Bush!!!! It was announced a year prior to Bush acknowledging that we were in a recession, where was Judd then, I get so sick and tired of hearing this rhetoric and politics from the GOP it is past getting sickening. If they got so much D-- knowledge why in the hell did they allow us to get to this point before the new administration came into play? It is a insult to those that are thinking straight, if he had a chance to help this country today and declined the invite why in the hell is talking now against it. Greater is he that is in me than he that is in the world. That is what the President is standing under and walking in faith. These other jokers just trying to position themselves for 2012 and be the big dog for the GOP, can't you guys see through the smoke and mirrors! Sure it is going to cost us something in the future but in order to make money you got to spend it!!! In order to bring us out of this recession same principle applies.
When will we see the GIANT posters of Comrad Obama like in Russia ?? Oh ... wait ... we already do .... never mind
John john john, you can not be trusted!
We need to do BOTH : get bonuses back, AND prevent this from happening in the future. If anyone listened to Larry King's interview with Judge Judy, she had some very sensible solutions that seemed very do-able by our government officials. Also, I hope President Obama reconsiders his support of Geithner. Both he and Dobbs need to be given the boot.
Does this guy have any better ideas othat than constantly criticizing the administration's recovery plans. If he did why did he not speak out when the downturn had started under GOP watch. Being constantly critical without any solid plans amounts to wishing the president to fail.
is this another republican trying to school us on fiscal responsibilty? the same party of "cut taxes but spend spend spend"? uhhh...yeah....i'm listening. cuz they know what they're talking about surely. (sarcasm intended)
next!
...for all you past Bush-bashers, and I still wonder what you guys are still doing inhabiting the earth, this no longer has anything to do with him, this is now 'Barry's' economy, his and Princess Pelosi and dingy Harry Reid, the baffoon. Evidently, you guys are so obsessed with Bush-derranged syndrome that the thought of what is now being projected as 9 trillion dollar debt in the next ten years resulting from Obama's policies has no bearing on how you guys think. It's no wonder now how it was that Obama was able to hijack the country tin getting people like yourselves to vote for him!!
Mr. Gregg why not a dialogue of how to make it better rather than NO WE CAN'T!?
Where were all you people when Bush STOLE / DEFRAUDED the 2000 election using voting machines and corrupt officials? Why weren't you watching him like a hawk day-by-day as you are so willing to do to Obama? Frankly, if the country goes bankrupt, the fault is purely with us – we sat by and let Bush rig 2 elections, fake 2 wars, and destroy the economy. Obama trying to fix it isn't when you start backseat driving – if he fails, he fails trying to do the right thing, if even in the wrong way. If he does anything corrupt, then absolutely tear into him, but otherwise, RUN FOR PRESIDENT IF YOU THINK YOU CAN DO ANY BETTER.
Where was Gregg for the past 8 years? I didn't see him out in front criticizing Bush and his fellow Republicans in all that time, so who's actions are more unconscionable?
You had the chance Gregg to help this country but backed out and sense then all you have done is MOUTH.....Put your money where your mouth is and help fix it......
Let us remember that government has no money unless they trick it away from citizens.
Obama will cut way back on spending once the economy gets back on its feet.
---
I want some of those drugs you're on!!!!!!!!
(P.S. Nancy and Harry won't)
Are you blind? We're already bankrupt after the last 8 years of a republican President and 14 of the last 16 years of a republican Congress. This is where we ended up. We get the same people who have been there through this stretch of time letting these things happen! Now all of a sudden the Democrats are in control and, according to republicans, all hell is going to break loose because the majority of this country supports the President and his agenda! The republicans led us here, now we have to find our way out and move forward!
Senator Gregg, why is your opinion different than many others? Bush, in the 8 years of office got us where we are, before Obama took over.
It takes time to clean up Bush's "dirty laundry" and we have to try and think positive and be patient. The Government is not here to take care of everyone for everyhing; however, the AIG "Bonus parade" was stupid and done in poor judjement and AIG should be penalized. If the Secretary-Treasurer, whom many say should be fired, is not fired, then, move on. You cannot change things that are out of your control.
President Obama has hit the RESET button for America. It had to happen because everything was getting too expensive, especially,
housing and healthcare. Now money is going to be spent on our country, in our land, for our people. Why do you have a problem with this?
Judd Gregg from the party of NO, the IRRELEVENT party, the party that got us into this mess in the first place. If he knows so much about the economy than why are we here now after 8 years of Republican control ? Why didn't the Republicans show us great decision making so we could have a good economy ? Because they can't. Just another out of touch loser... The economy has historically done better with Democrats. Chew on that Republicans, learn how to spell IRRELEVENT !
Gregg is NOT the only one making this prediction. The White House Budget Office earlier in the week also reported his budget to be unsupportable in the long run.
Tha US is in a FUNK that it ain't gonna git out of!!! U know what I say? FUNK IT!!! Everyone go to ur wine and spirits store of ur choice and drink it up...have a ball or TWO be sure to use ur credit card!!!
I don't know whether to cry or LMAO...I'm going find a cure somewhere for you leftist zombies.
Gregg is an amazingly dishonest person. First he solicits the president's trust, then betrays that trust, AND then goes on to use that trust as a platform to obstruct.
Our government has a spending problem.
I can't quite grasp the concept of fixing a spending problem by spending more money, but then I'm not a politician.
Jim..... I was talking to my mother about that the other day. Politicians are all about re-election and could care less about anything else. Just a bunch of self serving idiots. Term limits for all political offices need to be established. Time to get the 20 term senators out, and force them to get a real job after their time is up.
On another note. I think its time for CNN and the rest of the media to stop spreading this filth about how its gonna be another "Great Depression." Great idea. Get everybody talking about how the world is gonna end, and that'll help solve the problem. Recessions are as much psychological as they are physically real. Why doesn't anybody talk about the 70s? Last time I checked, that was the closest mirror in history. You folks in the press are exploiting people's fears to make a story and that is just sick. Get a life.
Note to self: It is not necessary to keep reading any comment where the author refers to the president as Barack HUSSAIN Obama.
Senator Gregg, with all due respect, where were you while George W. Bush ran this economy into the ground? Doing nothing at this point is not an option, swift action and a considerable investment in rebuilding our infrastructure and updating our energy policy are required. There was a President who stood idly by clutching his purse strings while his economy collapsed, his name was Herbert Hoover and he turned what would have been a terrible recession into the Great Depression. Luckily, President Obama doesn't appear to be going that route, it's just Gregg et al. who are pursuing that kind of "fiscal responsibility".
At this point it no longer matters how this all started. We must get it to stop, or this prediction of his will come true. Many economists have issued the likewise warning.
The question for us is, are we going to continue to sit here and point fingers (which is clearly happening on this comment board), or are we going to work together to fix this. The current budget and deficits that began under Bush cannot be continued under Obama, or it will be all over. Obama needs to make the tough decisions if this country will be around in 4 years for a re-election run. If he continues (he looks like Bush to me folks!) running up these deficits, we are gone.
Do none of you have any facts? You can't actually tackle the issue Gregg brings up, you just go back to complaining about the last administration. And if you people had any facts you'd know a Democratic controlled legislature rubber stamped the war as much as Bush. Also, after the tech boom busted, this artificial housing market was built by those very same Democrats. I didn't see anyone complaining when the stock market hit all time highs during those eight years. Plus the fact that Obama and your Democrat congress in six months is going to end up spending more than the whole Iraq war. So before you start regurgitating the same baseless garbage, why don't you look and see who really got us into this mess and are now making it much worse.
Senator Judd was given an opportunity to work for Commerce, and he refused to make the difference. It is getting real tiring to hear these Republicans criticize without taking responsibility to work with this administration when given the chance to bring their ideas forth.
This same GOP basically rubber-stamped President Bush's wasteful spending on an unnecessary war in Iraq and created their own record-breaking deficits while having a "conservative" majority. Please, their credibility is ridiculous.
If anyone wants to see actual solutions, just look up Ron Paul's commentary on the economy. It really is simple. Live within your means (Income must exceed debt), credit must only be used as a tool to create income (As opposed to a means of providing what I want right now), debt must be paid in full ASAP, and a cash reserve must be set aside for when Murphy's Law decides to visit.
Until we elect officials with these core beliefs, our country will continue down the path the international high and mighty bankers have "advised".
If we really want "change", the 2 party system must go the way of the dodo. We need real choice, not just what the media deems as worthy for us to choose from.
So lets see,,, If spending 1 trillion on foreign aid to Iraq and making bombs that blow up or stuff that catches fire, it' a good thing and it won't bankrupt us, but spending 1 trillion on America and spending money on american people and buying goods is a bad thing and will bankrupt us?
the USSR went bankrupt because it spent all its money on guns weapons nuclear warheads subs and military that didn't even fire a single round.
the USA is spending all its money building roads, schools, electrical grid, wind power, housing, and general infrastructure.
If USA does go bankrupt, at least every citizen will have a car, house, cell phone, and college degree
So many commenting think we have a king not a president. First , we the people elected those in the House and the Senate and white house. we were happy living on the easy money - like children with no parents who just eat candy. suddenly our teeth hurt and we cry like babbies and blame our mommy. grow up! WE are the cause of this. we took out the easy loans. we elected the dems and reps. who created the deficits. we have to stop being a bunch of spoiled brats. don't blame the past, pray now, repent of our greed and partisan hate. Be men and women not little children that bicker and snip at each other. This is America people and we are Americans. We are a great nation but it's been our character and determination that has made us the leader of the free world. right now, i don't see a lot of character on this comments page. Just a bunch of whiny infants. if that is who we are then america IS finsished.
Gregg might be right, but where was he and the other Republicans for the last eight years when money was wasted in George Bush's stupid "war on terror", the tons of money wasted in Iraq and Afghanistan that has bankrupted America? No Sir, they didn't raise a finger! Lieberman working for Israel behind the scenes, and forgetting whether he is a Democrat or a Republican–take your choice! Dodd and Schumer tied to Wall Street money. The defense industry sucking millions and billions out of the Treasury for junk like the F-22, the Lockheed C130J which even the Air Force didn't consider a good plane, the list goes on and on. We are hooked and screwed by the Congress which sold itself to the interested corporations and banking establishments. The taxpayers are the losers–where does it end?
The following questions are not only for Mr. Gregg but also for all the Republicans who are consistently opposing Obama Administration.
1. So what is your solution Mr. Gregg?
2. What is your strategy to prevent the U.S. to go ‘bankrupt?
3. Will your criticizing Obama Administration solve the meltdown of economic?
4. What are your ideas of helping people who are facing foreclosure or lay off, NOW?
5. How are you going to put foods on the table for the ones who already lost their jobs, NOW?
6. Suppose you are right that the U.S. is going bankrupt, do you know when it started? What did you to prevent it as soon as it started?
7. What is your plan if any Republican is elected to be president after the four years of Obama?
Okay…. first, instead of listening to the Republican Chicken Little cry the sky is falling.. why don't, we second, allow President Obama a little bit more than 2 months to save the world!
the republicans caused this disaster, they have no solutions on how to fix it, but they sure can holler NO at every idea OUR President comes up with on trying to SAVE OUR PRECIOUS COUNTRY.
You have to remember the primary goal of Obamanomic is wealth redistribution. The GOP has been calling for measures that garner free market system principles by letting the too large to fail – fail.
Had we let AIG fail, their smaller more profitable business units would have been separated from the whole and the weak cut from the heard. Investments capital would have shored up the profitable portions of the company as opposed to taxpayer money in the form of government bailouts.
Unfortunately, that’s small potatoes compared to the projected Obamanomic outcome. If this government fails as projected, their goal of wealth redistribution will have succeeded. The only problem is, that goal will have ruined all of us.
As for those screaming where these voices have been for the last 8-years . . . your tones are muffed because you keep sticking your heads in the sand. Stop living in the past . . . we’re talking about the future of our nation. We are the UNITED STATES OF AMERICA not the “United Special Interest of America”. Obamanomics is a perfect example of two wrongs not making a right.
Finally, someone making some sense! I agree with Gregg...
he is doing right in some things right now, both Congress, Senate and President (now and former) hold responsiblity to AIG and it's faults...and we should NOT tax the bonuses away...it sets a bad precident....though I do believe those holding their bonuses hold the responsiblity to return a large portion of them because in truth, this is taxpayer money not privately earned monies. Suck it up and admit you really didn't earn this, this year.
Any non-partisan economist will tell you that when the economy is in its present condition, citizens will cut back on their spending. In order to prevent a total lock down of liquidity, only the government has the resources to pump money into the economy to keep things more fluid until improvement is seen.
Yes, propping up failed is a political failure to consider the future in regard to appropriate regulation, but our politicians have not learned from the past because they have forgotten it in favor of what is politically expedient here and now.
Our Senator Lindsey Graham (don't even get me started on Jim DeMint) are giving us the same old republican mantras of cutting taxes on the wealthy and keeping the dollars in the DOD. As always, it is not realistic to refuse to expect them to do the right thing. They cannot think "outside the box" and expect the President's policies to fail in order to tell us they "told us so".
When the economy gets better (and it will) the Republican Party will be even weaker than it is now and their prospects few. They are out of touch with the majority of Americans and don't seem to care if they do what is best for the country or not. I am an independent, but have voted conservatively all my life. I also believe that you have to do the right thing for the country and not necessarily what is best for one's political career. How these guys can sleep at night because of their decisions is beyond me.
So?
The country is already bankrupt. Obama is just digging a deeper faster hole doing all the same things Bush did.
Ron Paul has a solution. Too bad the government thinks those that follow him are domestic terrorists.
Hopefully very soon CNN will show John King the door. I liked him during the election but it seem the majic board got to his head.
Why did he not asl Judd where he was over the past eight years? Why did John not dig deep and made a point that Judd and his friends gave President Bush a rubber stamp on every bill?
John, I know you are not reporting the news in a fair and balanced way because you are hell bend on having it twisted to suit ratings. Be fair, be balanced and seek answers to the right questions.
Now starting the countdown clock on when the liberals decry Gregg's speaking the truth as "hate speech" against their anointed Socialist-in-Chief.
I am sick to death of the Republicans only offering criticism and not any other solutions. If Obama's ideas are so bad and will cause so much damage then why don't they suggest something better?? Answer: Because they don't have any suggestions that are better. They're just playing politics.
I just changed the channel from John King because of his pro-republican ideals. This program has just become one of those you see on Fox. Do not watch, and eventually he would have to be more honest in his reporting or fore go State of the Union.
It always amazes me how these Republican tools have no problem bankrupting America with un-necessary wars, but when it comes to *investing* in our own country they get all high and mighty about how much it costs!
Get all the loafers off welfare (including the octo-moms) and reduce taxes by the amount not doled out in welfare payments. That would stimulate the economy!
Banks that are failing are handing out bonuses? Who does that? This means that these same banks will make bad loans in the second time around because they have no checks and balances. Bailing out companies and banks is a communist action and one that a market economy would not allow. Let the strong survive or we are going to bail out these people that don't know what they're doing again. Once the construction and real estate industries aren't able to get loans and prices start falling, automakers, manufacturers of durable goods, and everybody on down the line will go under because construction and real estate make up between 25% to 45% of the economy. Gingrich says go to bankruptcy court and I agree!
Spend spend spend and the Senator is correct we will be bankrupt.
Now everyone should understand the feigned outrage over the AIG bonuses. It's not at all about that money. The administration couldn't care less about that paltry sum. It's about getting YOU outraged. Now you get to see the real reason. They will now use YOUR outrage to push through more laws and regulations on capitalism. It's all about controlling US and giving them more power. Nothing whatsoever to do with fixing a problem. This 165M or 213M or whatever the figure is is insignificant. It's all about the power grab.
When are we Americans going to wake up and see what we are losing in every "crisis" they manufacture. Yes, the economy is hurting. If we continue to let the government "fix" it we're going to wake up one day very very soon and find ourselves living in the new Russia. Start comparing the freedoms we are supposed to have to what we TRULY have and see how far we've strayed from what we were founded as. WAKE UP SILENT MAJORITY or be silenced forever!!
This guy had a chance to personally affect the fiscal direction of this country, but he flaked out. So I say to him "Sit down and chut up".
I got mine and Im moving to Dubai,hahaha on the rest of you.
If the United States go bankrupt it will be the direct result of republican trickle down economics that got it's start with Ronald Reagan and really accelerated with George Bush.
The republicans have refused to pay their fair share of running the country and have gutted most of the banking safeguards of the new deal of the Roosevelt Era. The resulting corporate corruption and elitist greed have driven this country into the ground. Trying to place blame on President Obama is revisionists at it's worst.
To read a number of the comments added to Senator Gregg's statements are mind-boggling! The majority of you folks need to get a quick lesson in applied economics, and quick bashing Bush and the past 8 years. First, Congress has been controlled by a Democratic majority, which is led by Rep. Pelosi and Senator Reid, since 2006. The mess we are currently in is a "shared" bipartisan one - no thanks to the efforts of the aforementioned House and Senate leaders, and others such as Rep. Barney Franks and Senator Dodd. Secondly, if you believe that the current tax and spend policies are the way to economic prosperity, we certainly have the "right" politicians in power. Last point, would it not be great if this country could have leaders which could lead by establishing policies for the benefit of all amercians and not by espousing party (democratic or republican) ideoligies. Fellow Americans, please read through the political rhetoric and study the path our "current administration" (executive and congress) are taking this country!
The Democrats are good people ,and they think they are taking the country in the right direction,the problem is they have the map upside down,how far in the wrong direction will we have to go be for the Democrats realize the mistake,and will we have enough gas to turn around and go back in the right direction ??
Thisis Obama's plan. To tear things down, and rebuild a society fair forall
John King when are you going to get a back bone and start asking the tough questions and when are you going to follow up on something that you have asked.....you just let them go on and on....No wonder I watch Meet The Press, at least David Gregory has back up quotes and something they have said in the past to put it before them....
Isn't it funny when you watch something that was said over 2 months ago by these yelling screaming Republicans and now they have a whole different tune...as the first Americans used to say, white man speaks with fork tongue....
Anyone with half a brain knows that when you're in dire financial circumstances, you try to get yourself back on an even keel and out of debt before you begin spending on big ticket items. The way Obama's grandiose schemes are laid out, we will most certainly be bankrupt. The fiscal health of this nation is becoming less stable with each utterance from the President. It almost seems as if he's just talking to hear himself talk; what he's saying sure isn't making any sense!
Do not speak against Comrad Obama ..........he needs more time to complete his evil plan !
If we split the country in two, republicans in the red states and democrats in the blue, the blue states would look like Cuba in five years while the red states would prosper beyond imagination.
Just for the record the national debt went thru the roof from 1980 to 1988 during the Reagan trickle-down economics era. They had this great idea that if they cut taxes on everybody, especially the rich, that the economy woul grow. It did – but surprise surprise – less taxes means less revenue. which means a skyrocketing national debt. Was it worth it? Ten years of prosperity and excess in exchange for trillions and trillions of debt? Bush Jr. must have thought so because he tried the exact same thing. And our economy grew as our debt skyrocketed again. All of our prosperous times have been false and were being propped up by borrowed money. At some point you HAVE to pay off your debt and get back to fiscal responsibility. But that's a tough sell to an electorate that wants everything all the time.
Larry March 22nd, 2009 12:11 pm ET
Just another Republican flapping his jaw to show he's with his team in bashing everything Obama does
Yawn … wake me up when a Republican says something useful
Larry, you will never have to wake up if thats what you are waiting for. The Republicans hate America and what she stands for. Isnt that obvious? Just look at the looks on their front men's faces Joe Scarbourgh, Pat Buchannon, Newt Gingrich, did you ever see such contemptable sneers? They look as if they can't stand the smell of the country, when what they are smelling is their top lip. I wonder how Jerry Falwell and Lucifer are getting along?
What a joke this guy is–our economy has already crashed but as a member of the inner circle in D.C. he has not felt any of the pain.
John King really should find a spot on Fox or Rush's show and stop bringing these greedy, fear-mongers into our homes on Sunday. CNN–you drop Hughley but keep on this neo-con?
Just more fear mongering by the Republicans. The Republican party does not have any answers, all they can do is try to instill fear into the American people.
Republicans are an absolute JOKE. They just HATE the fact that a african american man has taken what they thought God had ordained for white men only. Funny how people want to emphasize the fact that Obama's half white, when any other time if you had a drop of black blood, you were considered BLACK or an OTHER).
If Judd Gregg was so concerned about this country and believed that our financial house is in such dire straits as he proclaimed in this article then he should have accepted Obama's cabinet nomination and not put partisan politics ahead of his duty to our country.
Republicans only support spending ourselves into oblivion when it comes to wars and nation building. The moment you suggest spending money at home in the US they get upset that you're spending too much. I don't remember any of them opposing the war that we were lied into and the then president's decision to spend tons of money to build and Iraq democracy.
Where were these guys during the Bush years when they controlled both houses of congress for six years and spent more money than ever imaginable, without a single spending veto. While there is plenty of blame to go around they are primarilly responsible for putting this country near depression.
Gregg's transparent effort to blame Obama for the economic disaster inherited from Bush, is insulting. He should either help with productive ideas consistent with the platform on which Obama was elected or just shut up. Blaming Obama for the economy is like blaming the fire department for the fire they are trying to put out. Because of his lies, Gregg has disgraced himself and his office and should resign.
Politics aside, he is right. China already said they are concerned about future US debt quality. True, the deficit was high (in $) when Bush left office. But as a percentage of GDP, it was pretty tame in historical standards. With the latest bailout stimulus for unions and all the projected Obama social plans, the debt level compared to GDP will only increase significantly. Bush is not to blame for Obama's spending plans. In order to implement all the programs that Obama's budget plan includes, the only option will be to return to income tax rates of 50% or higher for everyone.
Hey John-from-California. The Democrats have been running California into the ground, now they're doing it to the whole country. Exactly how does California, where 1% of the people pay 50% of all income taxes, operate better than trickle down? They just raised the top income rate to almost 11%, sales tax "temporarily" to 10.25% and cut the hell out of services to "balance the budget" Less than 30 days later we're already another $8 BILLION underwater. Compare that to when Reagan ran the state. Even our own legislators are claiming Maryland residency to avoid this tax commie state. Toyota moved it's new Prius plant to Mississippi because it sucks here, and now AAA is moving too. The more you try to tax your way out, the less tax revenue there is. You want fair?? Pay your fair share of taxes.
After reading several comments..Would someone Please explain to me the path we should be taking to put America on solid ground!
Boy, CNN sure attracts a lot of mindless sheep to defend the inept president that we unfortunately have now! To say all the initiatives over the last 6 weeks were meant to stimulate our economy is pure hogwash! The political paybacks to cancers like the unions, the Global Warming fruitcakes, the pro-illegal immigrants lobby, and the "let's apologize and prostrate ourselves to all the other countries of the world so they'll start to like us again" crowd has really been Obama's goals and achievements. He and his socialist admirers in the Congress are pathetic and need to be chunked out of office like yesterday! God save the U.S.A.!
Let's see. Bush inherited a surplus, but squandered it and spent the country more into debt than any other president in US history, started 2 unconstitutional wars to stimulate his on approval ratings (as opposed to provide for the defense of the country), and opposed regulation to keep big Wall Street banks and financial institutions in line. As a lame duck, he set a precedent by allowing the first 750 Billion dollar bailout bill to be pushed through with no checks/balances in it. The list goes on. What do you think McCain would be doing about things now? Not much. So far, all he's done is criticize, but he hasn't offered one alternative constructive solution. I haven't heard any republicans come up with any good ideas, just criticism.
Gregg and John King make me sick right now.. John King must make more than $250,000 a year and just don't want to see his tax % go up.. Gregg is in that group too,...
Gregg has no credibility...he is just a puppet!1
all they do is whine.. where are the alternatives... why aren't you giving alternatives.. they sound like parrots...
Gregg is way off base, as is almost the entire GOP. It is quite clear that you have to spend in order to create jobs, get banks moving again, and take care of the crumbling infrastructure in this country that must be fixed in order for us to be competitive in the 21 century, not to mention live a decent quality of life.
The question is: Where do you spend? Do you blow it on a misguided war in Iraq and tax cuts for rich people in hopes that they let a little bit trickle down to the rest of us? (We know what really tends to "trickle down," and it ain't the sweet honey.) That's been tried, and it failed miserably.
The alternative is to spend on the right things and do it in a large enough amount that it will work. That is what Obama is trying to do. He is working to clean up the Bush train wreck and move us forward into a sustainable position of genuine leadership in the modern world. If only he'd been in charge for the last 8 years (or Gore, or Kerry), we'd be in a lot better position today.
Message to Gregg we have already financially crashed. If he doesn’t believe it Come to my neighborhood in California and see all the foreclosed homes.
Why is it that the PIGS at the trough, who created the instruments that brought us to this crisis, think we should have any respect for their old
schemes to save the economy.
The right-wing, greed-mongers have sucked the blood from us and now hopes to get what they missed. LUSH LIMBO stokes the fires of hatred and stood his ground, along with his miniscule flock of sheep to criticize, from day one, the efforts of President Obama, instead of being part of the solution, he continues to be part of the problem.
Now DUDD want to press his agenda and not our nation's. He spews
the same 'chum' that got us into this mess under his disgraced leader
BUSH.
Is this country going to fall for this pablum again or will it give our new
President a chance to get us back to the country it was, when not under the thumb of the Republicans.
WE are going to make a greater effort to remove you and your ilk from office in 2010, so we at least have a chance.
Too funny, you say the country is already bankrupt, so spend more?
Bush, over 8 years, left a deficit of 11 Trillion dollars, which included a recession, 9/11 and two wars.
Obama, just with his budget will leave 23 Trillion dollars over the next 10 years. We are not adding in the "stimulus" the "throw us all under the bus Omnibus bill" nor adding in the 1 Trillion dollars sent into the economy Friday afternoon. The government is printing it on loan to itself. So, that means you take 1 Trillion from your left pocket and write an I owe me in place of it.
At no time in history of the World, has this type of spending worked to recover an economy. Zimbobwye (sp) tried it, and their country's economy failed...
I thought President Obama hired the brightest? Gold went up 75.00 in 18 hours after Obama announced the printing of 1 Trillion.
Quit Pointing Fingers.. Spend Less.. Tax the balance.. It will be hard for a while.. but ultimately we will survive.. and we will be stronger in the long run. The people want corrupt systems to fail. We don't want less government, we don't want democratic party government, and we don't want republican party government. We the People want American Government.
Mr. Gregg, sure glad you are not a cabinet member..Question, where have you been, big mouth, for the last 8 years. Keep your dumb opinions to yourself, media monger.
Ok now, to the republicans, do you have a solution to this problem? All I have heard was griping and no solutions from the republican side. Don't you think it is time to swallow your pride, and that means democrats too, and work together for the good of the people of these United States. I really do think it is about time for this to happen. If not, yes we are all in a world of hurt, dems, repub., and indep.
Didnt Warren Buffett say the same thing about 2 weeks ago? Buffett said that Obama needs to concentrate on fixing the economy and then move on to other things such health care etc... Only 8% of the stimulus package is going to support infrastructure so how many jobs will we create really.... Only time will tell, but I dont know how you can tax and spend this country out of this mess and currently that is the only thing that Obama is doing... Obama is no different from George Bush.
Nice to see the Obamabots screaming in anger at anyone who objectively questions the direction that Obama wants to lead this country.
Did he also say it was time for the rich republicans to start paying their fair share of taves????
Bush was bad but these clowns are going to make him look like an amateur. After reading these comments, do we need any more evidence that the public education system in this country has failed. We better go back to allowing only landowners the vote.
This is from a Senator who could have worked in the Obama administration and worked for the American people. But he chose to take the easy way out and continue the Republican policies of just saying NO to everything this administration is trying to do to right the ship.
When will the American people begin to wake up and realize that the Republicans do not want this president to succeed and are only working toward 2010. Instead of working together!
What is the deal with John King? First Cheney and now this? Tune in weekly to hear him interview doomsday Republicans who predict the sky will fall as someone tries to fix the mess they created. Do John King and CNN think this type of black/white message reporting equals fair and unbiased journalism? Giving people a platform to spew extreme partisan messages is NOT fair and unbiased journalism – it is easy and its sensationalism.
This admin is either so utterly stupid or they have a grand plot to bankrupt the country, even more than it is, which will allow them to solidify more control and make most Americans dependent upon big government. There is no other reason for describing why Obama is doing what he's doing.... either one, were screwed.
Judd Gregg is a corrupt hack. John King, why don't you ask him about the New Hampshire airport earmarks that directly benefit his personal real estate holdings at that airport? Why don't you ask him why he wasn't interested in fiscal responsibility when he voted for Bush's $5TRILLION in deficits?
Obama is doing exactly what every President has to do in a recession: increase government spending to lessen the effects of the recession and speed up the return to growth.
Economics 101 – and what Gregg is doing is Republican hackery 101. It should get a much more skeptical view from a real journalist – not John King.
Gregg was offered a chance to make a difference and be part of the solution. He rejected it. So, Mr. Gregg, shut your pie-hole!
This is disgusting. WHY in the world are we trying to bailout the rich and greedy? Both parties are so involved with kick backs they refuse to admit it is small businesses that drive the economy. It is time to pull the plug and no more bailouts for these people. The country will survive and new banks will replace them.
STOP wasting taxpayer money and explaining like I don't get it!!! I get it more than you think and so do millions of others!!! We cannot afford to save the rich greedy people from themselves, it is time to save main street and forget wall street and the bankers. Enough ALL Ready!!!!
The democrats will blindly follow obama just as people followed adolf hitler. Its surprising to see people continue to support him when he consistently lies and is running our country into the ground. i guess the Nazi's had change in mind too. Democrats wake up! Quit blindly supporting someone who has no concept of the ideals on which this country was founded.
I have another comment. This has to do with the financial system. I wonder how many of you remember in the 80's, people voted for branch banking. We did not have this. Your states banks stayed in your state, no crossing the line. So deregulation hit also. So you tell me who was the president during that time. This mess of ours, did not happen overnight, it cannot be fixed overnight. We are a nation of insant gratification. Let us all slow down and realize what is really important. Let the president do his job. Also, if you do not like what is going on. Get a hold of your congressman or woman or representative and go from there.
If I see "the past eight years" one more time, I honestly think I will vomit! These are OBAMA's policies that are going to send us into debt. Yes, he did walk into the presidency with a recession, but HE is the one who is making it worse. The non-partisan Congressional Budget Office projected a 9 trillion dollar deficit in 10 years because of Obama, not Bush.
you obamicons are simply amazing. just simply amazing. you're all frogs sitting in a pot of water with the burner on high. when will you ever see things at what they are and ignore the D or R of the people we have "representing" us in washington. don't be a non-conforming battered human being and just take it. DO SOMETHING. TAKE YOUR COUNTRY BACK!!!!!!!!!!!!!!!!!!!!!!
Two wrongs don't make a right. Bush is probably the cause for this meltdown (although I ultimately believe it is the last 35 years of policies that caused this and the bubble goes a lot deeper than we think). During his term he ran rough shot over the Republicans, many of who opposed his original bail outs, so don't blame the GOP members that are presently elected. By the same note, I don't believe that Obama is making sensible moves and is taking the easy way out of this crisis, that may ultimately cause a bigger crisis in the end.
Oh yes that what President Obama wants. To put this country in bankcrupcy so he can enforce his rules and turn this country to complete socialism. Capitalist be aware, save that money somewhere else.
So what exactly is Mr. Gregg's proposal? Deregulate the banks and financial industry? Cut taxes? Maybe invade some badly-run country and see if we can establish a nice little democracy there? As I recall, we've tried these already . . .
Where were the 'true' conservatives when Bush and the Republicans were running up the deficits for the past 8 years. Heck, his father did the same thing.
With respect to deficits, I feel betrayed by the Republicans far more than I feel any concerned about the Obama administration's attempts to fix what has been broken.
He talks as if he wants us to go bankrupt. Paul Krugman the 2008 Nobel Lauarete in Economics said the stimulus wasn't big enough-nuff said.
This is a very scary prospect for the United States. I believe I learned better spending habits from my parents growing up. If you don't have much money, don't spend what you have. SAVE, SAVE, SAVE! It's a simple idea. I am not sure where our leaders are getting their "ideas", but they are simply dangerous.
Yeah Obama bankrupted the country in 60 days.
Senator Gregg is correct... this Administration is totally irresponsible, fiscally. Everyone will pay a very high price over the next 10 years.
He's right
Where were the GOP during the last 8 years setting the table for disaster even 3 years before their second term was completed ? The GOP is brain-dead with no alternative to the stimulus. Mental midgets they are !!
You can thank Mr. Bush for all of this.
I think all the bonus contracts should be honored and paid. If the members of Congress and the Bush and Obama Administrations are too stupid to include deferring the bonus payments until the banks are solvent and the loans to the government are repaid, let them pay the political consequences. A contact is a legal document that should not be broken or voided by a third party. This is a nation of laws and all of us should respect the law. Personally, I feel that none of the AIG or Wall Street executives deserves any bonus unless his/her activities contributed positively to the bottom line. If those executives had any sense of honor, ethics, and personal integrity, they would forgo their bonuses.
here they are, all the Bush haters....not one with the knowledge or courage to understand that this started before Bush with the "noble idea" that everyone should own a home, so the CRA forced banks to offer loans to nearly anyone who applied...no income check, no social security number needed, no proof of employment required, etc. And no surprise, a lot of people took advantage of this and had no intention or ability to repay. Sec. Rubin of the Clinton cabinet pushed this and when 42% of the Fannie May loans were already subprime and in trouble, the great democrat Barney Frank said "no problem". The biggest recipients of AIG contributions were Sen. Chris Dodd (D) and then Senator Barack Obama (D). Notice all the democrat lawmakers who peddled their influence who now try to shift the blame to the free enterprise system. The heart of our problem is in the incompetence, greed, power hungry politicians of BOTH sides of the aisle, who could not care less about ordinary Americans, only their own benefit. Wake up you CELEBRITY admirers, Obama is NOT an American Idol contestant. He is an inept political hack who is doing just more of the same, simply to entrench a leftist socialist bent in this country that demands that people rely on more government (when this is certainly a case where less is more). Hate mindlessly, does that make you feel better? Learn, become better informed, don't let the politicians distract you with wedge issues, and popular, yet really insignificant bonuses that were written into the UNREAD stimulus plan for which the Democrats approved without even reading. Such a great affect on our entire system of government and they never even read it!!!!
I've been reading every most of the blogs for the last weeks. There must be hundreds of complaints against John King and his ilk. Does CNN not realize they are losing hundreds of viewers? If we wanted CNN to be FOX news, we'd be watching FOX. Thank God you got rid of Glenn Beck. He's at home at FOX. Why don't you guys send John and Dana, Ed, and a few more of those who seem to know better than Obama on to FOX?? They wouldn't have to PRETEND to be impartial there. All this gloom and doom hurt the economy about as much as the bailouts do. Several viewers have written similar comments here, so I know I am not the Lone Ranger. What a mistake that would have been!
Gregg is a two-faced jellyfish and we are lucky he is not on the cabinet! It's so obvious who is trying to scramble to run for president in 2012. Tell us, who is John featuring next week? Rush Limbaugh?
It is unfortunate that John king has created his own State of the Union with bunch of right wing GOP fanatics like Dick Cheney couple of weeks ago and today the senator from New Hampshire. Let it be known that this senator withdrew from the Commerce post not because of his political philosophy, but because he was afraid that the confirmation hearing would expose his corrupt dealings with his brothers business. John, I had lot of admiration for your journalistic skills, but you have disappointed me with your State of the Union Program.
Mr. Obama is untested and inexperienced in turning this country around. He has rushed to make statements about anything that caters to the general public populism. Can he explain to the American people what is the root cause of the current economic and financial crisis? Let me tell you what it is, consumerism and overleverage. People borrow tomorrow's money to pay for yesterday's pleasure. That's why we have what we have now.
People, please understand that the HUGE budget deficit in this country is going to burden us, our future generations for years to come. If you ever care about yourself and your children's welfare, please tell Mr. Obama that he is screwing up the whole country. It's not that I am against government spending in an effort to restart the economic growth. Mr. Obama needs to show us how he plans to pay all this debt down. People, over $2 trillion dollars of budget deficit is a very very scary number to me. Do you how many years it will take for citizens in this country to pay down this much debt? I don't.
I still fail to understand why a president is interested in appearing in Jay Leno's talk show and talk about basket ball, dogs and bowling. Mr. President, we don't care about your personal life. Please fix the country's problems first.
The Senator has the last 16 years in Washington. Since this article describes him as a politician "known as one of the keenest fiscal minds on Capitol Hill" it occurs to me that he must have forseen this fiscal crisis that the present administration must correct. Or, at the very least, he MUST HAVE called for more stringent controls from the SEC and the accounting community in order to eliminate any possibility that the American people would be forced to pay for their failure to oversite those profit making institutions. I don't see how any person that didn't foresee the events that transpired in the last 16 years can now claim to "know" what will happen in the next 16.
I'll be doggone if I'm working and the CEOs will continue to take food, shelter from the table of the working man. YES, they need to give back what they have stolen. John King and Dugan, why are you trying to allow greed to succeed. Why is okay to let the CEOs keep the money and then we continue to struggle? It amazing how you make it seem like 165m is a drop in the bucket and we should let the greedy continue in their arrogant, incompentant and greedy lifestyle. It is okay that they put a noose around the taxpayers neck and squeezed until the blood came. Mr. Gregg why did you not accept? Especially if the opportunity arose where the Reps could express their ideas on how to stop the bleeding?
I wish people could distinguish between "Obama" and "The government." It wasn't Obama who started showering AIG and the banks with money. This was all going on before he was in office. If anything, Obama is standing strongest on health care, energy, and relief for those who are losing their homes...all these things are INDEED long overdue.
It's like two months go by and people completely forget the last decade of history. The underlying problem here is greed and lust for power, which often go hand in hand. How do you put a cap on power? In this country there is no such thing, unfortunately. Until people realize that one man's power is another man's loss, we'll never be a true democracy. We have a system that only rewards greed and competition. It's a ridiculous rat race and I'm pretty sure most of America is fed up.
I'm inclined to think not just banks going under is the solution.......we just need a whole new type of economy. Capitalism fails every 20 years or so. We only defend it because we're not developed enough to create a better way. So yeah...if the economy fails, it's time to put our thinking caps on. If it comes back strong, then the rat race continues for a couple more decades. What a great country this is!
Mr. Greg had two choices, one was to join the administration and use his keen talents in fiscal matters to help show the country a way out of 20 of the last 28 years of republican fiscal policies, deregulation, trickle down theories, barbaric declaration of war on third world countries.
The second choice was to stay with his republican cronies and sit on the sideline and criticize the repairman while he tries to fix the truck the republican party group drove drunk, hit a tree, bounced off and slammed into the wall of the bridge, causing it to flip over and fall 300 feet into the lake. Gregg's comments make it clear what his choice was.
Where was this brilliant financial mind when Bush was spending like a sailor on leave?
Excuse me, I got distracted and didn't edit what I wrote, so may I re-submit it? Thank you.
I've been reading most of the blogs here for the last several weeks. There must be hundreds of complaints against John King and his ilk. Does CNN not realize they are losing hundreds of viewers? If we wanted CNN to be FOX news, we'd be watching FOX. Thank God you got rid of Glenn Beck. He's at home at FOX. Why don't you guys send John and Dana, Ed, and a few more of those who seem to know everything so much better than Obama on to FOX?? They wouldn't have to PRETEND to be impartial there. All this gloom and doom hurts the economy about as much as the bailouts do. Several viewers have written similar comments here, so I know I am not the Lone Ranger.
Gregg is a two-faced jellyfish and we are lucky he is not on the cabinet! What a mistake that would have been! It's so obvious who is trying to scramble to run for president in 2012. Tell us, who is John King featuring next week? Rush Limbaugh?
What ARE the answer's to the ailing economy? What's the NEW strategy? What's the plan to implement the NEW stratetgy? What are the pro's and con's of the NEW strategy? What timeline have you established? When will the economy be back on track as according to your NEW plan? How long will it last? Too many questions for you, huh? Is it the Republican strategy to watch us crash and burn in our little airplane with the gas light on? Well the gas light IS on and all you can do is tell us, again and again, that we're going to crash and burn because the low gas indicator is on? Whoa what a strategist! ANSWERS idiots! We need answers, and all you can give us is a warning signal. Put a rest to it already. You're sounding like a scratched CD-no use for you at all!
Mr. Gregg: Obama has already challenged those opposed to the plan to come up with a better idea and he will listen. So what's your alternative?
Obama inherited this nightmare from the bush administration! At least he is trying to do something about it! Lets not forget the last 8 years of republican solutions put us in this mess. Obviously republican tactics do not work! So, with all of these republicans criticizing Obama, they offer no real solutions! Just plain old rhetoric!
Barack likes the idea of the entire nation failing.
People then become more sheep like and hand their souls and life
over to Barack. Barack then makes ALL your decisions for you
because you poor little people are too STUPID to make your own
decisions. I am barack. I will save you. Trust me little people I will
make your life in Russia better.
I feel Obama should sit down with the terrorists at a large conference table and try to work things out ........ like he did with AIG. Then take a long break and go bowling. Last but not least go on Jay Leno and discuss the worlds problems and a tactic on exactly when/where and how he is going to bring home our troops ! Heck ! give ALQUIEDA
a blue print too ! The real answer is to hire Jack Bauer from 24 !
The fact is American Business pays virtually no federal taxes and most Citizens pay something like 10 or 12%. This is crazy. It isn't the budget that is out of touch; it is the tax system. If you have the highest standard of living in the world sooner or later it must become pay as you go.
That doesn't mean no after school; it means a higher tax rate and equity across the range of tax payers. The answer is a flat 20% tax on income of every sort paid by everyone; business and individual, church and charity. We could reture our debt in about 15 years and start putting money aside for fiscal emergencies like the current one.
Gregg is right, we're going down and the guy at the helm is to blame. I believe the gig is finally up for the US. It is time to emigrate.
Get the money back from Bush and Channey.
This is change alright! Change toward socialism!
Check your facts folks. Starting in 2006, when our newly elected Democrats established a majority, things started to tank. Please, look up the facts. The fiscally responsible Republicans (& Democrats, Sen. Evan Byah of Indiana, for example) thank you for sticking to your guns on this. I liken Obama & Friends' current spending to a shopping spree of big screen t.v.'s, video games, new furniture, etc., for a house that is on fire.
Please consider what our children & generations to come are going to be left with. Stand up for the United States.
The senator from New Hampshire, where were you for the last 8 years? You and the GOP fanatics have created this mess. Now it is time for you to shut up. There are 55,000 Americans who have Swiss bank accounts to hide their money for tax evasion. This is despite the tax breaks you folks have been enjoying for the last 8 years. This is not patriotic by any means.
and you are an idiot, where were you the past 8yrs....maybe you should have spoken up then!!!!
Look at all the foaming Republicans finding fiscal responsibility in the middle of the crises they created. The GOP broke our country and should shut their mouths until they give President Obama a chance to fix it. The GOP consists of a bunch of hypocritical idiots.
Why did Senator Gregg vote for every single one of the Bush budgets? Apparently it's ok for Gregg and the GOP to have bankrupted America.
Why did Senator Gregg vote for deregulation in the late 90's? You know the deregulation that led to today's bank failures.
Why did Gregg go along with Bush on allowing these corporations to use a post office on an island to avoid paying billions in taxes. Records hos these corporations used this money to give huge bonuses to executives rather than the mid/lower level workers.
Why did Gregg stand by for 5 years while 23 bailed out companies failed to pay taxes dating back to 2004? Apparently it was good politically for the GOP to go along with Bush and allow America to be bankrupted.
Thank you Senator Gregg for 10 years of votes that have bankrupted America.
Why did Sen. Gregg not speak up against profligate spending when George Bush was in office? Recall that when Bill Clinton left office the US Government had a budget surplus, not a budget deficit. The deficit occurred as a result of Bush administration fiscal policies and lack of oversight, which Sen. Gregg steadfastly supported. For Sen. Gregg now to decry deficit spending when we have no choice is transparently hypocritical since Sen. Gregg helped create the present fiscal crisis.
Republicans are FISCALLY CONSERVATIVE, Democrats are FISCALLY SOCIALIST. Democrats will take the last penny in your wallet and give it to your neighbor who does nothing but sit in their butt all day while you work your finger to the bone. Ever heard of a democrat who never like increase in taxes? Democrats love money, they love to distribute wealth but they don't know how to create jobs. They hate corporations creating JOBS. Oh well, you people deserve that EMPTY SUIT in the Whitehouse, you voted for SPEECHES, that's all you got, SPEECHES – INVESTMENT – SALIVA!
Senator Gregg says Obama's stimulus plan will bankrupt the nation?
Translation: The wealthy may be asked to pay their share of taxes.
Judd,
If you know the future, please give me the winning lottery numbers for the Megamillions next week. Otherwise, you should be charged with cruelty for having three kids when you knew they will inherit a bankrupted country.
The GOP is done. They have two options: (1) Slam Obama and be right and try to regain the respect they lost in two last elections or (2) Slam Obama and be wrong and go out in a blaze of semi-glory. Makes sense. That's what someone does when backed into a corner and fighting on its last breath. Don't fall for it people.
After 8 years of so called war and the billions to pay for it no wonder we might go bankrupt. Let's also not forget about the billions that were stolen during the last administration.
As a Republican, again I will show as much respect for YOUR president as you showed mine for the last 8 years. I have followed the issues unlike most Obamanotics and I do not agree with the direction he is taking this country. Wake up BHO followers and listen with your heart and mind for a change.
After reading many of these posts, I am encouraged to see that a lot of posters realize the real source of the problem, the gang of 535 in Washington. And when they make a point, they support it with understanding and fact and not just invective as we hear from poorly informed Messiah lovers, who don't have a clue other than it's Bush's fault and anyone in that administration. Obama has set out to destroy the private sector and make reliance on big government (full of failed socialist policies which have never worked). The American public, if any good comes out of this, will finally realize that the so-called representation in Congress represents noone but themselves and their own benefit and special power and wealth. The plane may only have 15 minutes of fuel, but worse yet it is pilotless. Courage and strength fellow Americans, and I only hope that those who have no sense of history (I lived in the Carter years with over 17% prime rate, the blaming by Carter of American malaise, etc. and that was nothing compared to what is coming). God bless those Americans who have shown their knowledge in these postings, which are just usually a forum for blame and hate to Bush.
I think that this country was in the wrong direction and still going on the wrong direction, You can't throw the money a way like the government has been doing on the last 18 months, I'm agreed with providing help for the unemployed but I'm not agreed with the bank packages, Just like those irresponsible people took those mortgages that they couldn't afford the same way the USA is conducting itself, It's a matter of time before the USA has to default on it's debt, there is not way on the world how a country can sustain itself just base on borrowing money. I voted for MR Obama and believed that he was going to act more responsibly with the banking system but he has taken the same approach that Mr bush did with the bank and it's not going to work, we are heading toward disaster.
The country is going to bankruppcy?? Gregg, where were you the past 8years?? the country is already bankrupted and potentially drags the rest of the western world with it.. Thank you W!!!
Now the new administration is trying to fix the mess and some of you are playing petty politics.. Come on people,
Obama's adm didn't cause the mess, and they are doing well so far to put US back on the good tracks... wake up! If there was one time when the country should be united this is now!
Reps, are you willing to sacrifice 95% of working people just to help 5% (making millions per year) pay less taxes??
If and when this country goes bankrupt I hope it laysoff
EVERY member of congress, since term limits aren't working.
I have to chuckle, "Texas Teacher", that you think that your slobber fest over Obama is this pulse of the nation because, in your opinion, you have gleaned from the posts that everyone is 'pro-Obama'. Please consider that I, along with many, many others (who are obviously Republicans, or just believe in fiscally responsible representatives) never get our comments posted here. Don't know if CNN has a liberal bias (nahh, couldn't be that
) or if they filter their posts by omitting anything with the words, NO THANKS OBAMA).
The voters wanted change and now they have it.
This country has been bankrupt ever since 1921 and so has the US Treasury as well. They have been running on exhaust fumes for a very long time. Their system for a lack of a better term, is due to monetary slavery a.k.a. TAXES, that inevitably go into an account for Pilgrim Investments, being Bush Sr. and the Queen of England.
What people fail to realize is that nothing can or will change due to a preponderance of ignorance. As soon as this subsides, people will think, "Oh ,the storm has stopped." In reality, it has not, it has just calmed down, in order to regain its strength and ultimately destroy and capsize everything and anything in its way-a path of destruction.
Until we all changes what we see and think and geta ticket to the clue bus globally, this onslaught will continue.
The direction Obama is taking the country is spot on – you HAVE to spend your way out of a depression. You have to spend money in order to ensure job creation and tax revenues down the road. How ironic that Republicans look to the Great Depression and say Roosevelt's spending policies didn't help get the country out of the depression, it was World War II that accomplished this goal. What was WWII but the biggest stimulus packet ever!!?? Barring another world war, we desperately need to go in the direction Obama has mapped out. And his spending is not just spending for spending's sake – it is being spent on items desperately needed to make America competitive in the long run and save the environment as well. This administration needs every one of our support to move this country forward. Quit whinning and start working.
Gregg Judd is a dud, if he cared so much about this country he would have worked with the Obama team and helped find a solution to the financial problems. If it wasn't for Bush and the rest of the Republicans the economy would not have been so bad, remember they were left with a big surplus when Clinton left office, what did they do with all of that money. At least President Obama has a stimulus plan and if given a chance it will work, if capitalism will ever work in the first place.
Thank you Sen. Gregg for standing up and speaking the truth. We need more representatives like you right now.
Senator Gregg you should stay with helping your brother and yourself with your earmarks so you and your brother can get rich at the taxpayers expense. What a hypocrite
Senator Gregg is a great one to talk. This is the same guy that spoke before the CATO Institute and said that the more highly skilled H-1B visa holders that we import, the more highly skilled jobs there will be for American workers.
This statement was based on a laughable analysis produced by an organization that claims 5 Americans hired for every H-1B. Unfortunately for the American workers, this data relationship is not a causal one - it is just an observation of existing data.
Mr. Gregg was just as willing to sell the American economy out when he thought that he could make some campaign donations from the India Caucus, or from high tech - who both desparately desire to import cheap labor at the expense of America's own highly trained technical workers.
i live in nh.greed,i mean gregg was 1 of bushs yes men.he did not serve the people of nh ,he did what the repubs wanted not what would help nh.thank god he not in govt. now.he was part of the problem ,not the answer.give obama a chance.
The new John King show DUH!!!!!!!!
Boy, CNN must be desperate.
What a way to lose viewers.
This shows CNN's bias towards Republicans. Why has it not been reported that Gregg had to step down due to back taxes? He's still allowed to speak. That's what I mean by the media bowing down to not even intelligent Republicans, just those who keep the pot stirred.
@ Dave NYC
It always amazes me how these Republican tools have no problem bankrupting America with un-necessary wars, but when it comes to *investing* in our own country they get all high and mighty about how much it costs!
--
Then they want to wear a lapel pin screaming, "God Bless America." Fascinating isn't it?
I, for one, am sick and tired of those who are very willing and able to offer criticism but apparently incapable of suggesting concrete alternatives to the strategies and actions they so freely condemn.
My own criticism does come with a concrete alternative. It's this:
If you have no alternative suggestions, shut up and go think some more. Because nobody is listening to your rant.
As a Bush supporter, I did not agree with everything President Bush did, like immigration for instance. Just because he is President does not mean he will not make a mistake-but I guess Obama,Obama,Obama can do no wrong-I forgot he is the Messiah!!!!!!!! You people need to look at facts and issues and quit following someone like a blind fool. I say for starters, send the illegals home and redo the entire welfare system. Helping someone stay on welfare will not stimulate this economy and neither will spending tmoney we do not have.
Imagine going to get a loan at the bank for a house and you tell them even though you don't have any money, you want the loan for a house as well as additional money because you think it's the right time to get a new computer, TV, home entertainment system and a new car too. Here's a novel idea – add up all the revenue you can realistically expect (and if you want to get if from the "rich" maybe you ought to think about trying to limit their pay) and then figure out what you can do with that money. If you need it all for bailouts and stimulus, then you'll need to shut down other areas of government. Perhaps the best bet is to suspend Congress's pay and that of their staffs.
I think anyone that has common sense would have come to Senator Gregg's conclusion.
Anyone without a basic concept of macro economics would see President Obama's plan as being reasonable.
America, you have been warned.
Obama wants to build a 21st century economy where our children are dependant on liberal goverment handouts forever.
I know that I am not the US government, but I think average people would pay off some debt to get their feet on the ground before buying a second house, investing in new cars, refrigerators, remodeling the kitchen, or putting in a pool. What the Presidebt proposes is exactly the opposite – let's have the government spend more money on credit, argue that it is a stiumlus, and "double hope with our fingers crossed pretty please" that revenues will go up fast enough to control the deficit. Now we hear that the WH's revenue projections are way off, but there is no talk about reductions in spending to go with it. Can you say inflation?
I'm tired of the bashing, we need ideas people! Not blame! Blaming isn't helping. At this point it doesn't matter who started the fight, it's how to end it. If we're not careful we'll end up like the Middle east, fighting for thousands of years just because we can't resolve our differences. Is that what we really want? Offer solutions or shut up! Didn't someone once say, "If you don't have something nice to say, don't say anything at all?" I think there's a lesson here we're neglecting to pay attention to.
How many of you people do your homework or try and find out the real things that are being covered up. Wouldn't it be nice to live in utopia, no more bills, no more worries? We could all just be happy and have everything taken care of us by the ruler. There would be any reward for doing a little bit more than your neighbor who is home watching HIll Street Blues while you're out busting your but to achieve something more. We would all become equal, no iniative to do something more. Hasen't this been tried before. Maybe you should read a little history. I believe Russia tried this, now it's the Soviet Union again. Are you aware of what they plan to do with medicine? I suppose you know that if you work you'll pay more to help out the people who chose not to work. I suppose that's the American way, we help one another. I'm all for helping the people that are trying to help themselves. But I'm not for paying for the pukes that are freeloading off of the system. Now it is going to get much worse if you work. Should we have big government take over the education system at a federal level. They were the ones behind the subprime lending by the way. They initiated it in 97. You want to know what is really sickening is that who supported it back then, our savour, Obama. I belive everyone got out of control, people were spending way beyound their means. Now we have to face up and pay the bill. The answer doesn't lie by more spending. As you can see, it's not working. Have you noticed or read that the congressing buget committee came out and said Friday that we cannot support this budget, this spending, hello. Wake up, if Russia can go bankrupt, why can't we? Just look at what has gone on just in the past week. I encourage you all to become more informed about what is going on.
"The problem with socialism is that you eventually run out of other peoples' money"
Margaret Thatcher
Bankruptcy ain't all that bad!! Your system was going to one way or another. Improper spending on your huge military & reduced spending on health care & education for the last 20 years & huge debts...for those who complain about Obama;c'mon look at your history! You've made your own 3rd world America the great.
Praise the Lord that this idiot is NOT in the cabinet. At least we know that he is NOT running for relection, he said so again this morning. Be a good little boy and GO HOME
Comrade...not comrad.
The human elements of stupidity and greed is why the nation finds itself dire straits.
Greedy banks wanted to make money by giving bad loans to greedy people who wanted homes and material things that they could not afford; along with a lot of Big Macs and SUVs.
In an economy and society based solely on capitalism, credit and cheap junk food; it's no wonder that simple greed and stupidity would bring forth its downfall.
Is that "Rhetoric That Works For You" has produced a drugged population who invested their dreams in Obama who was a blank slate. And who WILL bankrupt the country. He had virtually no experience before, but was anointed The New Messiah by his handlers. Now, ANYONE who criticizes any aspect of his AGENDA (duh, 3 tax cheat nominees right at the very beginning of his term) has been branded as "unpatriotic" or "Republican wingnuts." AIG IS THE FALL GUY for Washington. Get the money back by TAXING THE POLITICIANS, and then perhaps they will take the responsibility they should have. Geithner, the tax cheat, should be the first one in line.....
When the country goes bankrupt, can we get congress to give us a bailout?
Joanna March 22nd, 2009 11:05 am ET
Do not put this crap on Obama. You people are responsible for this! We will not forget it. At least Obama is trying to get our country back where it belongs. You should have stopped bush!
================================================
YOU GO Girl!!!! It's amazing that a person who is in office for what 60 days now is the reason why we are in the mess that were in. Obama never said he was a mircle worker, at least he is trying. If all of you want to blame somebody, blame congress and the senate. We need to get out the old (greezzrrrsss) and bring in new faces (young). Republicans 6years to there credit and Demrocats for 2years and with one arrogante presidents who didn't care what anybody said, it was his way or the highway. So, everybody who voted for this idiots are the ones to blame. One more thing, at lease Obama can answer questions from a town meeting without the people submitting there questions first.
I never heard of Judd Gregg until his nomination to Obama's cabinet. So where was he when George W bush was spending $10 billion a month in Iraq? Probably he was no where with his head in the sand, not wanting to challenge the dictator Bush. The crisis just didn't happen since January 20. It has been going on for eight years.
My request to Judd Gregg – if you have a better plan, then develop it and lay it out on prime time TV. If you don't, then shut up.
GOP is blind as usual, no clue, and torn between incompetent moderate crooks and raving religious extremists.
Fool... the country is already bankrupt. The foolish theory to let capitalism run unchecked created that. The Republican solution to do nothing, will do nothing to correct that, but it will give them the excuse that they didn't do anything to affect it, because... they did nothing. Nothing. The country, the world will continue to fail, because they'd do nothing.
Obama is doing something. And he's doing it to help people. Why are the Rupublicans so dead set against helping people? I want help. My neighbors want help. If the government goes into debt to help me, so be it. At least they are helping me, and not themselves anymore. It's about time the government take some responsibility for the average people. Gregg just wants to save the government, and let the rest of us drown.
Does anyone remember Bushie telling us that the Iraqi's were going to pay for our services from their OIL money? What ever happened to that promise. I think that's worth about 750 Billion dollars-hello Republicans–
John King when are you going to stop drooling when talking about Obama? Don't think I have caught you saying the "OBAMA WHITEHOUSE", as much as, you always said the "BUSH WHITEHOUSE" was the blame.
It was obvious 4 years ago when the US elected Bush after Abu Ghraib that the US was in possibly mortal danger. Rapture mentality had taken over many in individual financial crisis. It's ironic that Reagan, touted for the fall of the Soviet Union [who would have thought so precipitously?] is a major cause of our current fall.
If this Gregg guy knows so much, why did he back out of the job. Besides, who had the majority in congress before 2006. The Republicans are now blaming the democrats for the mess that they (the Republicans) made. Talk about 2 faced...of course, they never were very good at taking responsibility for their own actions. With Cheney, Delay, Rove, Limbaugh, Coulter etc. on their side, I don't know why we are in such a mess????????
Commodity Futures Modernization Act of 2000 signed by President Clinton on December 21, 2000. Congress was pushing for the deregulation of banking institutions. At the same time Congress was pressuring banking institutes to grant credit to those who normally wouldn't qualify. Put the two together and you have banking institutions making risky (toxic) investments (I.e., hybrid sub-prime mortgages) in order to comply with Congress with no regulations to restrict how they did so. Our economic downfall is the fault of both parties that was put into motion prior to Bush's or Obama's administration. Why didn't we see it coming? Simple the economy start booming. Now there were more individuals qualifying for mortgages/loans, skyrocketing the value of our homes. Life was good. Until those individuals could no longer make payments on those loans, bringing about foreclosure, banks losing millions, etc.
I agree with the approach many European countries are taking. Start enforcing regulations on banking institutions and stop forcing institutions to grant high risk loans to those who normally wouldn't qualify. Stop bailing out every Tom, Dick and Harry who forgot to read or failed to understand the terms of the loans they agreed to.
In Japan, when corporation are failing, their CEO commits suicide; in USA they're given bonuses. In Japan when politicians are caught lying, breaking their promises; they go on TV, bow their heads and ask forgiveness from their constituents and resigned; in USA lying politicians are voted back in office, forgiven like nothing happened. They keep on lying, they keep on breaking every laws in our constitution; their followers either left or right point the blame to previous administration or whoever they feel can give them a mileage for a day. Then the people woke up from their beautiful dream; they have nothing left, politicians took away everything from them, they all become victim of their own stupidity and party loyalty. Who is the winners and losers? Winners are the politicians, losers are the American people regardless of political affiliation. Everyone go down with the ship while politicians are in the lifeboat wearing a life jacket. NEVER forget, a government that will give you anything, will take EVERYTHING away from you.
If Mr. Gregg feels this way, why would he not pitch in to help? So far all he has done is say what is wrong and not give solutions. So what if he didn't like the direction the president was going. He still would have some input. I believe his reasons were strictly for political gain in his party.
why does no one ever mention the illuminati , the true front men running the world through puppets such as bush and obama .... untill the federal reserve is cruched and the rockefeller,and rothschilds of the world (with the new world order plans) are crushed , their planned depression will continue , everyone realy should do their homework , this is all planned and obama has no say , he is just a puppet !!!!
instead of all you people mocking the president for what he is trying to do. For all you experts on this blog, submitt your solutions to him, he has websites out there. At least he paying attention.
Republicans do love to sound alarms that the whole country is going down in flames because of Obama. They love the drama of crying "the sky is falling!" We are in this mess BECAUSE the Republican party ran the country into the ground and Obama inherited a huge disastrous mess!
Tell me why there is a shortage of ammunition now? Is it because everyone is secure, they can think about planting a garden?
Instead of being a part of the solution, this guy decided to stand on the side lines and point fingers like all of the other hypocritical Republicans. So why should anyone listen to his doom and gloom...the American people have had enough and if the country does go bankrupt, it will not be due to the current administration who is trying to fix the problems of the last 8 yesrs.
All this stimulus money is not invested in America. Most of it went overseas.
New World Order, We can't openly give money to the EU and UN, but we can give it to our buddies who gave us big campaign contributions (OBAMA, DODD, FRANK and others) and they can do it for us.
Frank and Dodd should be brought up on criminal charges. Oh yeah, the other guy who writes out tax code but can't follow it should be brought up on charges too, Rangel
IT amazes me to see how stupidly people are following no common sense... ignoring what our founding fathers warned against...we are doing all the wrong things at every level.
My parents always advised me to pay my bills on time and avoid excessive debt... now we have a debt and are doing more and more harm to ourselves as a nation... we will collapse economically and could become a third world nation... God owes us nothing to prevent it..
folks... listen well ...
PAY EVERYTHING OFF OVER THOSE TEN YEARS AND BUY NOTHING BUT ESSENTIALS... stockpile food in the form of dried goods and canned goods...
There, common sense. I dare say, we're too busy drinking the Obammian kool aide to listen... all it well and will be okay... keep drinking.
I don't drink it. Thankfully I am a political diabetic... I don't believe in sweet talk from politicians.
It's so easy to be an armchair quarterback , Mr Gregg. What I'd like to know is what is your plan? What rescue plan do you (and/or the republican party for that matter) propose to pull this country out of the finiancial mess that we are in??? Is the plan still to give every tax payer $800.00 and ask them to shop at Walmart?? Or is it, once again, to cut taxes on big business and the wealthy so they will "invest in America" and put the millions of unemployed back to work? (Yeh, we've definitely seen how altruistic big business has proven to be over the past eight years.)
So, what is it?? Give us the plan– Time is ticking.. were waiting.
It is funning listening to you Obama Kool-Aid drinkers. Everytime someone makes a negative comment about Obama they must be a disgruntled Bush supporter. Grow up you morons. Take a look at Obama's budget which is 4 times more debt ridden then Bush's. Any Bush's budget included fighting two wars. We are becoming a socialist country very quickly. Be carefull what you ask for
The Country went Bankrupt . . . when we INVADED IRAQ (10 billion a month)
When Katrinia Hit--what did our Politians do?
CONGRESS TERM LIMITS . . . 12 YEARS, NO RETIREMENT!
Bush pent billions, Obama to spend trillions, this is going to result in 70% tax rate to pay back.
Judd Gregg is another fine example of why the Republican Party is sitting on the sidelines wishing they could get in the game. When they had a chance to set the country on a sound financial course, they chose to give G.W.B. a blank check book and a rubber stamp. Now that they are realizing the error of their ways they are blaming anyone who mentions fixing this economic fiasco. If this country goes bankrupt it will not be the fault of President Obama and the Democrats, it will be the direct result of "trickle down" economics and deregulation of the financial institutions. In other words, this is the house the Republicans built and now it is tumbling down.
The speed (dare I say haste) of activities seems absurd. I voted for President Obama hoping he was an intellect and not an idealogue. I have been disappointed to see him march in lockstep with the Pelosi-Reid cabal. While he is still a good public speaker (especially in front of adoring crowds) I now question his intellect because I have seen him stumble and bumble (special olympics ???) when he is off script. I think we have troubles ahead and we have the wrong leader at the helm.
Another Republican spouting off. Now that they are is in the minority, they are obsessd with fiscal responsibility. Morons.
Mr. Judd:
Where is your plan? What would you do differently? 8 years under Republician leadership has brought us to this precipice. Failure government, failure policies, corruption and greed. Reagan and Bush administrations have created these problems. I would like to know how you would fix them. We want solutions, not blame games.
This is an example of why Presidents are loath to reach across the isle. The entire Republican Party would sacrifice the good of the nation to discredit the President. Exactly why would we listen to any Republican in regards to the economy? For that matter why listen regarding health care, the environment, the War, climate change, corruption, or immigartion reform? However, if we need expertise consultation on homophobia, corporate pandering, torture techniques, or covert operation of gulags – the GOP is the way to go!
It's always Bush's fault. A nation that has no economy cannot wage war against it's enemies. This is the "change" the useful idiots voted for.
Obama was in the senate for the last two years and he said absoulutley nothing about any of this , and need I remind you it was a democratic congress for the last two years. It amazes me how people can say oh he knows about the economy. People he has never ran anything not a business, nothing. He has no experience, except reading a teleprompter.. You made Obama up in your minds to what you want him to be, without any facts to back it up. I blame the media for not properly informing the people.
Yeah he slams Obama but voted for all the bush budgets etc that actually created the destruction of the country. Is there one of the white hood lying party that will ever tell the truth and stop re-writing the history of their total failure? What total cowards!
The Dems seemed to have never learned the first rule of holes.... When you are in one..Stop Digging!!!
It's hustler politicians like this guy that is killing this country. This guy steered taxpayer money to his developer brother.
Who is he kidding.
Ask gregg how he would fix the mess and he will say......tax cuts for the rich.
John King is a Republican right wing enabler
Notice how the Republicans seems to be seeping out of the woodwork with criticism? It's about all they know how to do really well.
I enjoy reading these comments. We have a person who think Ron Paul makes you a 'Domestic Terriorts" Well, that's because we had to have some group to replace those of us who defied The Bush Adminstration war for money and self serving plans and were called "unpatriotic", and the you see ophter comments calling our commander in chief a socialist or commorade. Intersting because the day WE allowed Paulson to bail out his buddies on Wall Street we became questionably akin to socialism by allowing government to own share in our prviate sector at the tax payers expense. And by the way, Obama wasn't President when that happened. So let's be not so selective when we call a spade a spade. You see it doesn't matter which "brand " it is.; it always not about the people.
Looks our our budget as a country WE ARE BANKRUPT. What's the squablle? This wasn't news it's just another person making headlines who doesn't like not being at the top of the heap. It worked too !
It would so great to know the background of some of the responders. Based on their comments, I'm sure I can tell if someone is Conversative or Liberal. I think it is also very easy to tell if the person is paying their real share of income tax. For those paying taxes, there is a much higher degree of intelligence and knowledge of what is now happening. What most of th responders do not understand is the small percentage of taxpayers in this country. So, again we will be having a small (not a majority) paying for the large majority of the rest of the country. No longer is it possible to expect people to accept responsibility for their actions.
He never noticed anything wrong the past eight years, now he's waking up? Dumb idiot.
Republicans need to stop blaming and come up with something better if they can but I think not. They just want to keep confusion in this country.
This is the same type of thing that happened in 2002-04 when conservatives in Congress were SCREAMING about the dangers posed to the economy by current credit lending practices and the business practices (fraud) at Fannie Mae and Freddie Mac. The liberals screamed back that "there is no problem" and that the housing and credit industries were "just fine." And why wouldn't they...they were getting generous "campaign contributions" from those industries.
Conservatives were right then and they're right now. We're heading for a disaster...but those rascally liberals, they just can't stop yelling how everything is going to be "just fine." As long as we keep spending and printing money we don't have everything will be just fine. We're going to be like Zimbabwe soon...1 euro will equal 1 billion dollars.
Where were all of these Republicans in Congress and on these boards when the Bush administration was DOUBLING the National Debt (i.e. $5.6 trillion to $10.8 trillion)? Why weren't they crying as loud as they are now back then? Hmmm...could this be what is called "playing politics?"
Republican Judd Gregg wasn't alarmed when George Bush was in office. Now, since his party is in the minority he's obsessed with fiscal responsibility.
Help President Obama
fix our broken federal government
and bankrupt Free Enterprise system.
On Nov. 2, 2010
elect statesmen
who ask: “What can I do
for my country?”
Defeat politicians
who ask: “What can my country
do for me and my special-interest,
greedy, corporate constituents?”
And Judas Gregg was willing to jump ship and fall into lock step with Barrack Hussein Obama. He is now and always has been an empty suit I am sure glad we will be rid of him in NH in 2010.
90 March 22nd, 2009 4:07 pm ET
It's always Bush's fault. A nation that has no economy cannot wage war against it's enemies. This is the "change" the useful idiots voted for.
===============================================
Well, this idiot is thankful for the change that is to come. At lease someone is trying to work for me and others in the nation.
Rush Limbaugh lowered-the-boom on Gregg to keep-in-line with the Party. Told ya he was a devoted little Republican!
People who read this and do not get chills up their spine are should be shot. Our President is destroying the Country. WAKE UP!!!!
If I was an enemy of this country with a burning desire to destroy it, and if I found myself in the position of president, I would do EXACTLY all the things Obama is doing……absolutely nothing different. We have a "manchurian president" on our hands, folks. He and his supporters simply will not rest until this country and everything it stands for is annihilated.
I am tired of you people. Stop thinking about your bipartisanship, the republicans and the democrats aproved the war in Iraq togheter. Bill Clinton's administration forced the banks to lend money to everybody and Bush's administration didn't do anything to change it. Mistakes have been made by both sides, but it is time to stop blaming and start thinking for the good of our kids. Both goverments (Bush and Obama) have spend an outrageous ammount of money in the last year and our economy is not improving, actually it is getting worse. It is obvious to me, this budget is only going to increase our debt and make some crazy congressmen happy, that have forgotten our economic situation and have filled the budget with selfish and irresponsible earmarks.
They don't call Democrats "Dims" for nothing. We have a President that's never done anything but teach Constitutional law and "organize" communities. The Congressional Budget Office just said Friday that Obama's deficit is going to be 2 TRILLION DOLLARS worse than he says. And, that's fine with you Dims as long as you can keep talking about how much you hate Bush. Idiots.
Another Republican without a plan ... just a complaint, Rush style.
Rush Limbaugh put the pressure on. Now Gregg thinks like the rest of the Republican morons.
I love the way all these Republicans are just now saying what dire straits the economy is in. WHERE THE HELL WERE YOU FOR THE LAST EIGHT YEARS with your SPEND SPEND SPEND President? What a BUNCH OF WINDBAGS!
Where was this righteous anger from the repubs when bush/cheney lied us into a war so terribly unprepared that it not only costs lives on both side, but billions upon billions a month? AND he dropped the ball on finding bin laden. Oh yeah, I know where they were, it lock step with the repub party, that's where.
I'm amazed at how many people see this as a Democrat vs Republican argument.
Bankrupt is bankrupt, no matter which party is currently in power. They're BOTH responsible for driving us into the ground with debt and uncontrolled spending.
But most of you go along like sheep the way the media frames it as "conservative versus liberal" and don't want to recognize the fact that they're all ripping us off and destroying our country. But hey, I'm sure the average citizen knows more about American Idol than American politics, which is why politicians are allowed to get away with this stuff.
Whatever it takes in Baghdad...
...NOTHING for American taxpayers...
...MORE tax cuts for the rich...
...let 'em eat cake...
...Cheney and Bush can't be blamed...
...they deserve to get away with murder and the money they've stolen...
...Bush conservative Republicans...
...sheesh!
...with countrymen and women like these...
...who needs Al Qaeda...
Cheney and Bush should be prosecuted and put in Jail.
They mislead Americans by fabricating a false intelligence report that Iraq has WMDs. Iraq was attacked for Bush's greed for oil.
4200 US troops have died because of this unjust war.
Cheney and Bush are war criminals.
I'm sure he just off the phone with the Republican Chairman, Rush Limbaugh.
The Secy. of the Treasury has to be asked to resign. Already too many critical foul ups in a very short time frame.
Isn't it funny how Obama supporters attempt to justify Obama's outrageous spending proposals by pointing out that President Bush spent a ton of money, as well? Do two wrongs make a right, Obama supporters? "This country is already bankrupt," says Connie from Indiana. Therefore, Connie, Obama's spending is acceptable? Give me a break. These sort of asinine straw arguments may work for Obama's autobiography and his fist-pumping cheerleading squad, but they are not a prescription for moving this country forward.
Typical. Every time somebody criticizes "The One", the Obamabots come out of the wood work with their same tired refrain...Blame Bush. To you people, Obama can do no wrong. He doesn't have to take responsibiility for anything. Everything he does, regardless of history showing us how wrong it is, is justified because of the horrible 8 years under Bush. To you people, we just need to shut up and sit down, since he won fair and square, and we just need to jump on the Obama Bandwagon that the rest of you mindless sheep jumped on years ago.
Give me a break. I didn't hear all this talk about unity and giving the president a chance in 2001 and 2005. You people scream bloody murder when Limbaugh says he wants Obama's "socialist policies", not the President (get it right) to fail, but you stand by silently, and in some cases even cheer on, when Al Gore calls Bush a liar, Harry Reid declares the war is lost, and Nancy Pelosi calls Bush the worst President in history and needs to be prosecuted. But you people are ready to crucify anyone, whether they be Democrat or Republican, who says anything even remotely negative about his policies.
I am sick and tired of the hypocrisy that you people constantly spew on here. At least be honest enough to state that this has nothing to do with "supporting the President", which is the smoke screen you people hide behind, and everything to do with the fact that you only support people you agree with and demonize the people you don't.
Gregg lecturing anyone on fiscal responsibility is like a drunk lecturing on sobriety. This man used up his credibility a long time ago. Now he needs to shut up so real work can get done.
Obama is all over the map! It's the ECONOMY stupid right up there with the dangerous middle east, and for once lets protect our borders. We are wasting money and the government is to blame! First and foremost our elected officials #1 JOB is to protect the people and they have failed us time and again. 9/11 and currently our fiscal crisis. There is no accountability only finger pointing. As a devoted republican I became so sick of the administration I too voted for CHANGE. We are in dire straights. God help us all!!!!!!!
Once Obama stops companies from outsourcing overseas, our economy will pick back up and the people of the United States will all benefit. People are watching their jobs go overseas and the only one's getting rich are those CEO's that get larger bonuses because they sold out the people of their companies. STOP OUTSOURCING OVERSEAS.
CNN, Please post this.
Cheney?.....Cheney who?
Well what ever happens we can thank the Republican party. President Obama has not been in office 90-days this mess was created by the GOP idiots, and now they want to be concerned. They wasn't concerned when they spent 8 years stealing everything they can get their hands on from the American people. Gregg you and you boys help create this message so who cares what you think. You should have been concerned 4 years ago. The Republican party such hypocrites...
The bail out started pouring money into Wall Street under George Bush. Obama is continuing the Bush policy. It is socialism for the rich that will ruin this nation. STOP THE BAIL OUT.
In ten years "one of the keenest minds" (Don't stick your nose up his . . . too far, CNN) will have been proven wrong, like all the other right wing "experts".
Gregg, you are a small mind and unthoughtful. If you know the country will go bankrupt and you were offered a position to help stop the bankruptcy why did you decline. Greg you lack the capacity to complain because you are not a competent person by any standard. You are very disappointing to those who elected you.
What is wrong with the Kool-Aid drinkers? I find it refreshing from the last 8 years
If only Ron Paul was in office, we would have real solutions right now.
Teeny tiny question: What was Obama doing while he was in the Senate? Oh, that's right - running for president and taking thousands of campaign contributions from AIG and Fanny & Freddie!
Mr. King,
Where are the tough probing questions? If the format of your show is to push the right's agenda, then you are success. Last week Dick Cheaney, and now Mr. Doom and Gloom. Is it your intention to fill the void left by that looney Glenn Beck? At least Hannity, and Olbermann are not pretending to be hard hitting journalist on a fair and balanced credible news program. You owe veiwers much more than you are delivering,
Where was Judd Gregg when Bush was bankrupting the country? Where was his outrage when Bush started the 'socialist' intervention with banks? He's saavy enough that he would never be re-elected in blue New Hampshire.
Who in their right mind ever took Cheney seriously?
CNN, you need to back up and take a hard look at the one-sided reporting you're now doing. My guess is that since Obama's team is working 15+ hours a day trying to clean up the old mess, only the do-nothing Republicans are available for interviews... now THAT's fair and impartial!
Gregg lost his right to complain or comment when he buckled to the "lets make Obama fail" Republican party heads and decided not to help. If he truly believes what he says and truly wanted to help the country, he should have rolled up his sleaves, resisted Limbaugh's pressure, and jumped in to help... he didn't... he wimped out... so go crawl back to your hole, Gregg.
This country is already bankrupt, of ideas. Stupid democrats are so angry at Bush that they let it blind them of the obvious. We are simply repeating the same mistakes the Japanese made during their lost decade, but we're too arrogant and stupid to avoid it.
To all you Bush haters out there, we agree, Bush's "ownership society" was a completely failed liberal policy. But to suggest he alone is to blame this mess on is just so ridiculously simple minded. Give me a break.
Dem's have been in charge of this bail-out mess since day 1. They wrote TARP, and they have failed in providing proper over-sight, just as they failed in over-seeing FNMA and Freddie. These bail-outs have been a complete failure in all respects, but instead of debating if there is any merit to Gregg's argument stupid dem's simply condemn anyone for challenging the word of the chosen one.
BTW, there was an alternative to this bail-out mania, and its called bankruptcy, which is not the same as insolvency. Oh, but had we had done that Gold Sach's wouldn't have gotten 10's of billions of side money via AIG money laundering, and their stock wouldn't be near $100. And where exactly did Geitner/Paulson come from anyway? Oh, but I forgot, this is all Bush's fault. Again, give me a break.
WAKE UP!
Before posting a comment regarding Republicans or Democrats, ask this simple question –
Is going deeper into debt a good thing when we don't know how to pay for the debt? Obviously NOT.
So we all must oppose the Government before they spend any more money. For those people who think that the government's main job is to spend our hard-earned money – STOP.
You should spend your money and not the politicians who want to pay their lobbyists
Clearly we have a lot of Limbaugh devotees here at the end! Babble your Limbaugh trash as long as you want, but don't forget that he was the very one who said that no one had a right to tell big business what to do with their money..... THEIR MONEY.... NOT our TAX DOLLARS!
Rush Limbaugh is so obviously in the pocket of big business that he can hardly walk... much less anything else! The man is a pawn of the lobbists.... nothing more!
Amazing how different these bozos on the Right measure Obama's 2 months to Bush's 8 years! Hypocrits! Bush, of course, has become a Saint... responsible for nothing!!
Where was this genius for the last 8 years and when McCain was saying the fundimentals of the economy are strong? The country drove toward bankruptcy by the government going to war on borrowed money, by giving tax breaks to the wealthiest rather than paying off their debt while many average Americans, ate too much, bought too much useless junk, did too many drugs and didn't pay their bills either.
"anon" and others point out one reason why the GOP is in such trouble. Bill Clinton and other pro-business Dems approved part of the deregulation debacle that helped get us into this mess. It wasn't Republicans that created this financial disaster, it was the entire gamut of Republican principles.
Everything the GOP stood for was proven wrong, wrong, wrong.
And now they're standing on the sidelines shouting, pointing, and calling names.
It's all they're good for anyway. It's what they do best.
hey Judd...I think a more appropriate analogy would be to consider the nation's economy in cardiac arrest & the stimulus plan synonomous to the paddles on a difibrulator. If some attempt to shock it back to life isn't made, we are in deep trouble. Thank God Mr. Obama has the intelligence & courage to make that attempt & the Republicans aren't still in the White House to excercise their standard remedy: tax reduction for those who don't need it, harder times for those whose daily lives are affected by the ups & downs of the economy.
Thanks for not taking that cabinet position, Mr. Gregg
"PAY EVERYTHING OFF OVER THOSE TEN YEARS AND BUY NOTHING BUT ESSENTIALS… stockpile food in the form of dried goods and canned goods…"
don't forget barterable valuables & WEAPONS. can't keep or barter what you can't defend.
and do that stockpiling on defensable land. . . .
Why is is it that people are always critizing the current administration; but offer NO NEW IDEAS OR HELP?
When are people going to learn?
– LEAD
– FOLLOW OR
– GET OUT OF THE WAY
Yes, I know, another with the warnings of crashing and bankruptcy. O.K. so what would he do if he was a member of the Obama administration? This I have not heard from any naysayer. They will predict the obvious but offer no solutions.
Duh! Now he's seeing it.
it will make me happy to see gregg, the fox team of idiots, cheny, bush and all the conservatives thieves and investment crooks standing in a bread-line hoping to get a meal.
I did not hear these comments when Bush was actually bankrupting the country. Now that we have a President trying to fix the mess – Shut up!
Gregg gave up the right to open his fat trap and cry about anything when he cheerleaded Bush policies that added at least 8 trillion to our cumulative account deficit, our cumulative trade deficit, and at least 3 trillion in Social Security surpluses that were stolen that should have been put in the "lockbox" to guarantee the solvency of the system for another 40 + years. Ridiculous to cry now when spending is the only remedy we have left. Him and Boner, I mean Boehner, should go have a good cry somewhere.
Another Republican eonomic guru is speaking and making predictions. Sen. Judd where were you when the Bush administration was wrecking havoc in our economy. I guess you were supporting them coz I did not hear anything from you. Or maybe you are in coma, ENOUGH!!!!!
Helen of NYC you need a mini mental test like all who say that the recession is Obama's fault need one. Memory loss is a sign of Dementia. And you all blaming the current president for a failed economy that he inherit from the Bush administration. for being in the office under a 100 days need one. HE DID NOT CAUSE THE ECONOMIC DOWN FALL THE REPUBLICAN ADMINISTRATION DID.
AS FOR THOSE REPUBLICAN TALKING HORSE. WHAT IS YOUR SOLUTION. BECAUSE PUTTING YOU BACK IN POWER IS DEFINETELY NOT ONE OF THEM.
He is an idiot just like the rest of the GOP. Cannot tell his mouth from you know what.
What an ignorant statement to say outsourcing is even an issue as far as this economy goes. This recession, soon to be depression is a direct and only result of bad debt, from poor lending practices, encouraged by the federal government, in order to attempt to get more people into home ownership, of which many of those people were not financially ready to own a home, or at least the home they tried to purchase. More spending by the Obama administration is just an increase in more bad debt, directly owed by the citizens of this country. He is placing bad debt on us and future generations that we cannot afford. This budget will bury the United States and the only way to not have a total financial colapse will be to have government control of every aspect of buisness, This will result in having the United States turn from capitalism to complete socialism. Socialism is the only thing that will come from Obama's budget. Hurray for all you who voted for Obama, The death of America as we knew it, as it was intended, is over. Welcome to the United Stated of Socialist America.
AIG NEEDS TO GIVE OUR MONEY BACK, no more bailouts for them, and no more bailouts for these over priced car companies, LET THEM BANKRUPT AND START OVER.
Hypocrisy,
Wow! You hit the nail on the head! I couldn't agree more. Texas Teacher, just because most of the comments on this news site line up with your way of thinking doesn't mean that the majority of the country thinks like you. This is a liberal leaning news site. You don't speak for me.
You avoid bankruptcy by paying your bills on time to avoid interest. What a concept! That will mean raising taxes, like it or not. You don't waste money. You buy what you need at a fair price thru competitive bidding. You hold people accountable. You get rid of burocratic inefficiencies. You restore competition in the marketplace with anti trust laws. And you break up Omnibus Spending Bills so people can actually read them.
"Gregg, known as one of the keenest fiscal minds on Capitol Hill"!! Then I must have one of the keenest fiscal minds in the country. I teach a personal financial management course to new Navy recruits, I've been telling them and others for the last 5 years that our country was on its way to bankruptcy. We pay over $400B a year in interest (and growing) on the debt. It doesn't take an economic whiz kid to figure out, sooner or later the majority of the tax revenue will go to pay this interest. Being the geniuses they are, our politicians will just borrow more money to pay the cost of running the country.
But I can't place the blame on just the politicians. We are the government, and as long as we the people keep placing the same corrupt, no common-sensed idiots in office, the water will continue to swirl in the toilet bowl of whats left of the US. Wake up America!!! It's way past the time to get most of these clowns out of office, impose term limits, ban political parties and start using the sense God gave you to elect politicians based on their merit and not on the "D" or "R".
Bush’s IQ is lower than a 5th grader. The Terrorists don’t attack us from other countries. They come here, infiltrate into our country and attack us. We need a better homeland security to prevent infiltration. Bush and Cheney did nothing for better homeland security. Going after terrorists in other countries is making us bankrupt and puts our troops on harms way.
Too late. We're already there, Senator Gregg. The challenge now is how to reorganize. President Obama was elected for that job, not you. Let's let the President do the job we elected him to do.
gregg is just like all the other repugs. they still don't get it. bush bankrupted this country. so lets get it straight. the repugs can only cricitize, but have no solutions. it is so typical of them. losers!!!!!!
Bush and Cheney in Jail... you Brown Shirted socialists are sounding right on your target!
Blame anybody but the big spenders from day 1
Get a grasp on history... liberals are sick and stupid... ignorant.
Get a life and go back to a socialist country, like Russia or China...
O ... ponder it... socialism is here now... and China and Russia will own us... but not me... Patrick Henry where are you?
If he's smart enough to predict the future, why didn't he join the administration to help?
As long as comments are still open here, I'd like to point out something:
Capitalism is not inherently irresponsible.
In fact, to the contrary.
A lot of our current fiscal crisis is the result not of a lack of the oversight of law but rather the reverse–legal encouragement to do something irresponsible. The Fannie Mae/Freddie Mac thing was a direct result of 1990s-era liberal legislation more or less requiring them to make high-risk loans to people almost certain to default on them, and then backing up those loans with federal money. The irresponsiblity wasn't that of capitalism, it was that of government.
Nor are the insane salaries of upper management and insane bonuses an artifact of capitalism. In fact, they're irresponsible perversions of responsible business practice made possible by the nearly incestuous mechanism of mutually back-scratching members of overlapping boards of directors.
May be instead of Gregg we could ask George W. for a comment. He might say something positive after bailing out the Country.
Why has there been nothing on this site about the fed printing A TRILLION new dollars??? Our money is on the way to becoming worthless and nobody even reported on it!
All of this raises the question–where were you these last eight years, Sen. Gregg, when Pres. Bush & the GOP rammed through fiscal policies that took us from budget surpluses and a paid-off national debt (which was scheduled for about 2009 when Clinton left office) to record deficits and the verge of an economic depression?? If we only have 15 minutes of fuel left, it's because Republican policies have taken us wildly off-course! Now that we have a President who's actually trying to land the plane safely, you sound the alarm!
If you had expressed such concerns eight years ago, when Bush & Co. revived "voodoo economics," you might be worth listening to. Instead, you are now just another typical Republican hack, putting party before country.