To put this in context, we have to remember we are going to spend close to $3 trillion--we probably will spend $3 trillion this year in the appropriating accounts and in our budgets. There is no way we can manage all that efficiently, but certainly every tool that we can get that helps us manage it efficiently we should have. This is just another tool in the tool box to make sure we don't waste the taxpayers' money.
Discussing the need for efficient management of federal spending.
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More from Judd Gregg
the policies behind getting these numbers under control are extremely difficult politically, because they involve very tough decisions.
To get this done, you are going to have to have compromise--compromise on both sides of the aisle.
In the end, you have to pay the debt ceiling because otherwise the government can't function, and the effect of that would be catastrophic.
A lot of that economic growth was driven by a bubble, and I don't really think we want to revisit that.