The usually mild-mannered Senator Judd Gregg (R-NH) went off on Obama’s Budget Director Peter Orszag yesterday during a senate committee hearing.
This was an amazing segment:
Judd Gregg was outraged:
Gregg erupted as Orszag spoke of the TARP use to solve lingering problems with access to credit for small businesses. “No! No! No!” he yelled out. “You can’t make that type of statement with any legitimacy. You cannot make that statement.” Gregg then held up a guideline for the TARP, which he helped write in 2008 to keep the country from further economic collapse.
“This is the law,” he said. “Let me tell you what the law says. Let me read to you again because you don’t appear to understand the law. The law is very clear. The monies recouped from the TARP shall be paid into the general fund of the Treasury for the reduction of the public debt. It’s not for a piggy bank because you’re concerned about lending to small businesses and you want to get a political event when you go out and make a speech in Nashua, N.H.”
Gregg accused Orszag and Obama of passing on debt to generations of Americans and having an abashed sidestepping of the TARP law. “And,” he said, “you ought to at least have the integrity to be forthright about it.”
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Let Freedom Ring has more on Judd’s performance and this administration’s nasty habit of running roughshod on the laws of this country.