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Gregg: Trust Big Banks, Don't Trust New Hampshire

by: elwood

Tue Dec 30, 2008 at 06:46:12 AM EST
One of the cornerstones of the Obama economic stimulus package is likely to be a massive package of money for states to spend. There are several reasons for this:
  1. Stimulus spending needs to happen quickly and many states have construction plans on the books just waiting for funding
  2. States have the infrastructure in place to not only spend the funds effectively but also to provide real oversight
  3. States are otherwise reliant on current-year tax revenues, and both income and sales tax revenues fall sharply during a big recession. Absent intervention state spending will shrink at just the wrong time for a recovery initiative.

This has drawn the attention of Senator Judd Gregg, just off his service as champion of the $700 billion giveaway "rescue package" for big Wall Street banks. That package came with virtually no strings and has funded big "business as usual" bonuses for top executives. What else it has paid for we do not know, because the banks refuse to tell us. Judd's legislation did not provide any measures to ensure that the public would know how the money was spent.
elwood :: Gregg: Trust Big Banks, Don't Trust New Hampshire
There is an oversight board, though. Judd agreed to serve on it, but then decided he is too busy and quit.

What keeps Judd so busy?

Worry that New Hampshire's now-Blue government can't be trusted.

In New Hampshire, he said, the state went too far in 2007 when it passed a two-year budget with a 17.5 percent increase at the start of a recession.

"That's pretty hard to justify," he said.

With Senator Gregg as Budget Committee chair the federal government set new records for deficit spending and the national debt grew by trillions and trillions. I suppose he knows overspending.
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Gregg: Trust Big Banks, Don't Trust New Hampshire | 9 comments
When I heard him on NHPR (4.00 / 2)
trying to tell us how to spend the stimulus, I almost drove off the road.

The hypocrisy is staggering.

That would be... (4.00 / 3)
Judd Gregg Road correct? After all, in his 30 years in office,he's sure he had something to do with fixing a pothole

Jan 6 - Shaheen/CSP/Hodes sworn in


Jan 8 - Lynch/Council Inauguration


Jan 20 - Presidential Inauguration
[ Parent ]
Judd Gregg Road? (4.00 / 1)
Oh yea, its right off the Judd Gregg Bridge over by The Judd Gregg Highway just north of Juddville.

-President, College Democrats of New Hampshire

Senator-Elect Jeanne Shaheen, I never get tired of saying that...
[ Parent ]
lined by the... (0.00 / 0)
Judd Gregg Ditch which is where he keeps trying to drive NH into.

The audacity of a man who voted with his party 95% of the time in the US Senate in 2008 is giving NH elected officials advice on how to lead is laughable.

Jan 6 - Shaheen/CSP/Hodes sworn in


Jan 8 - Lynch/Council Inauguration


Jan 20 - Presidential Inauguration

[ Parent ]
But, that's the function of a leader, don't you know? (0.00 / 0)
To tell us what to do.
[ Parent ]
Judd's Recovery Plan at work (0.00 / 0)
It helped a Merrill-Lynch layoff victim escape homelessness.
Don't you think this hint is just a bit too subtle? (4.00 / 1)
How often do we get to read about someone who pays $37 million for an apartment in a building where most apartments are assessed at $750,000 for tax purposes?

http://www.dailykos.com/story/...

[ Parent ]
BTW, I just want to make the point that I've long been surprised (0.00 / 0)
how little money actually passes into campaign coffers from the moneyed class.  Now I realize that the contributions are really just tokens signifying that a particular pol is "one of us"--i.e. the right people to rule.

Which suggests that perhaps we should pay closer attention where out of state donors actually live.

If people choose to segregate themselves in gated communities, for example, we might suspect that their contributions aren't designed to promote egalitarian goals.

Change "big three automakers" (0.00 / 0)
to "banks" and the massive transparency of Judd Gregg's ideology shines through:

The senator expressed little sympathy for America's big three automakers, saying they want taxpayers to hand over money so they can continue making products people don't want to buy.

He rejected warnings that their failure will bring widespread economic ruin.

He called it "hyperbole put in place in order to sell an initiative of basically giving them a blank check."


Gregg: Trust Big Banks, Don't Trust New Hampshire | 9 comments
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