President Obama admits his cap-and-trade plans probably do not have enough support to pass the Senate this year. Obama made the concession at a Tuesday town hall meeting in Nashua, New Hampshire, expressing regrets that his plan to charge companies for greenhouse-gas emissions will likely suffer defeat.
U.S. Sen. Judd Gregg, (R-N.H.), is insisting that the government obey the law, an idea some Washington insiders might find rather quaint in 21st century America. Gregg has taken sharp issue with President Obama's plan to use money repaid by beneficiaries of the 2008 bailout of large financial institutions to fund a new program aimed at helping small businesses. Gregg, the ranking Republican on the Senate Budget Committee, helped write the Toxic Assets Relief Program law and the Granite State Republican argues the repayments should be used to bring down the national debt, as the law requires.
Congress is acting to shackle Obama's Environmental Protection Agency (EPA) in the its efforts to impose strict regulations on greenhouse gas emissions. Two bills before Congress and a resolution in the Senate have already garnered impressive bi-partisan support.
President Obama didn't even get past the title of his budget before starting the lies. “A New Era of Responsibility,” President Obama's fiscal 2011 budget proposal, would increase the current year deficit to a new record $1.56 trillion. That's an increase in the size of the deficit of $300 billion since his fiscal 2010 budget last spring. The new budget proposal would also increase the fiscal 2011 deficit to $1.267 trillion, an increase by the same $300 billion figure over his proposal last year, and more than double the national debt from its current $12 trillion to more than $25 trillion over 10 years.