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Judd Gregg Exposes Peter Orszag

Posted by Larry Doyle on February 3, 2010 10:10 AM |

Are we a nation of laws or not? Do we merely do what is expedient and politically correct as opposed to what is right and principled? Do we allow political polls and political winds to override the pursuit of truth, transparency, and integrity? All too often, our nation gets so caught up in the moment that we lose sight of who we truly are, from where we have come and where we hope to be going. As a result, I believe we have lost both our moral and economic compass.

I broach these questions and make that assertion based on yesterday’s engagement (video clip below) between Senator Judd Gregg (R-NH) and Peter Orszag, White House Director of the Office of Management and Budget.

As a backdrop to Gregg exposing Orszag’s arrogant and presumptuous demeanor, please recall that the law enacted to implement the TARP (Troubled Asset Recovery Program) required that any funds recovered through this program be effectively returned to taxpayers to pay down our national debt. That’s the law.

Do the laws of our nation stand for anything or can they be presumptuously overrun at the administration’s whim and fancy?

I commend Judd Gregg for standing his ground and exposing Peter Orszag in this engagement. America deserves to witness this undressing because the very core of Gregg’s argument is the lack of respect so many in our country have for principle. You may feel differently and believe Orszag’s goals are worthy. I would ask you if the ends justify the means. Do you really want to go there?

What do you think of Judd Gregg? Peter Orszag? Are we a nation of laws or not?

LD

  • fiscalliberal

    Greg is certainly the more moderate of the No party, but he still does vote No. So his reasonable rhetoric results in no bipartisain. This blog knows I have little use for Obama as he is simply carrying on George Bush policies in Financial Reform and Health.

    The good folks of Mass did the rest of the country a favor. We need to remember that if you look at the deficit tables of Reagan, Bush I and Bush II which were off the wall and have created a large part of the debt we have. George Bush and the Republicans by policy implemened the reduction of regulation which created the financial crisis.

    We have a mess on our hands and it may be the system has to crash further like 1929 before it gets fixed

    Correct me if I am wrong, Senator Greg and the Republicans were in charge in all 4 branches of government for 6 years , and we ended up with massive debt. Do we remember the names of Bill Frist ( who owned hospitals), Tom Delay and Duke Cunninghamm.

    So – while senator Greg is able to nitpick, he is a little late and cannot speak with credibility. Again, just look at the deficit record.

    • LD

      Fiscal….no doubt the Republicans have a weak track record on which to hang their hat. I totally agree with you there.

      My point of this is not an attempt to promote the Republican platform, anything but. I merely want to highlight that the letter of the law, in this case the TARP, needs to be upheld.

      I am not so sure the administration would preemptively have an interest in trying to redraft the law. In fact, the TARP itself should have already been rewritten as its intended purpose, that is the purchase of the toxic assets, was never implemented.

      I am all for being expedient but when expediency trumps the law of the land and the integrity of the process, we need to look ourselves in the mirror.

      Plus if Orszag looked in the mirror, Iam not so sure he’d be all that happy. That’s a joke but it was too easy so I could not pass it up.

      • Always Learning

        Politicians always try to rewrite laws when it fits their whims. Back in 2004, Democrats passed a law in Massachusetts requiring a special election to replace senate vacancies that occur mid-term. At the time, Dems were afraid then-governor Mitt Romney would appoint a Republican senator to replace Kerry if he beat out George Bush for the presidency. Fast forward to 2010 and the law that Dems passed to protect themselves in 2004 came back to bite them in the special election that Brown won. Karma can be a bitch.

  • Mark G.

    All too often, our nation gets so caught up in the moment that we lose sight of who we truly are
    ===========================

    Or is solely being caught up in the
    moment what we have truly become?

    • LD

      Great question and I believe in many aspects of our society, the only honest answer is a resounding “Yes.”

  • Dan Jamieson

    Larry,

    I haven’t investigated this, but my understanding is the TARP money did go back into the Treasury.

    Now the administration is saying, use 30B of it for help to small businesses, rather than “reduce the debt” as promised. But didn’t TARP make a profit? Is he using the profits to fund the 30B? I don’t know.

    It seems to me Obama could easly throw that 30B into his budget and finance it with debt. But it seems to be a political statement–use the TARP money/profits from the big bad banks to help small business.

    Gregg vs. Orzag makes for good TV, but to me it’s mostly just the usual rhetoric to ignore.






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