Obama’s Budget Will Bankrupt America
WASHINGTON — New Hampshire Sen. Judd Gregg said Sunday that President Barack Obama’s massive budget proposal will bankrupt the country and is doomed to failure.
Gregg made the comments during an appearance Sunday on CNN’s “State of the Union.” He said he has no regrets in withdrawing his nomination to become commerce secretary. He pulled out after deciding he could not fully back the administration’s economic policies.
“The practical implications of this is bankruptcy for the United States. There’s no other way around it,” Gregg said. “If we maintain the proposals which are in this budget over the 10-year period that this budget covers, this country will go bankrupt. People will not buy our debt; our dollar will become devalued.”