March 27, 2009
JUDD GREGG, PLEASE STOP TALKING.... I suppose we can learn a lot about a politician towards the end of his or her political career. Once an elected lawmaker announces an intention to retire, the official is freed, to a certain extent, from political pressure. He or she can do exactly what they really believe is right, without concern for how a decision might affect fundraising or poll numbers.
Sen. Judd Gregg (R-N.H.), for example, is preparing to leave the political stage after a long career. Any chance he might become more reasonable and sensible in advance of his departure? Apparently not.
The United States wouldn't even be eligible to enter the European Union if it wanted to because of its debt levels, Sen. Judd Gregg (R-N.H.) claimed Thursday.
"We won't even be able to get into the EU if we wanted to," Gregg said this morning on MSNBC, "because our government is so large and so huge."
The European Union's Stability and Growth Pact (SGP) adopted in 1997 requires a budget deficit to be less than three percent, and requires a national debt beneath 60 percent of Gross Domestic Product (GDP).
"We've been lectured by France on the fact that we're not fiscally responsible right now," Gregg, the would-be commerce secretary, noted with incredulity.
It's worth remembering that Gregg doesn't know what he's talking about. The EU offers flexibility to governments that are responding to economic crises -- note to Gregg: we're in the midst of an economic crisis -- and several EU members will run deficits well above 3% this year. Those countries will be expected to lower those deficits in the coming years, which not incidentally, is what the Obama administration plans to do in the U.S.
For that matter, Gregg repeatedly supported, enthusiastically, Bush budgets that ran deficits that were more than 3% of GDP. Gregg did not, at the time, run to the cable networks to whine about it.
But let's also note that Gregg is just popping off in the media a little too much lately. In addition to his confusion about the EU, he also told CNN the other day, "The practical implications of [the Obama administration's budget] is bankruptcy for the United States. There's no other way around it. If we maintain the proposals that are in this budget over the ten-year period that this budget covers, this country will go bankrupt. People will not buy our debt, our dollar will become devalued."
First, Gregg is completely wrong. Second, his wildly irresponsible claptrap undermines confidence in the United States on the global stage in the midst of an economic crisis. In other words, by making a series of nonsensical and unsupported claims about our economy, Gregg actually runs the risk of undermining our national interests.
Gregg has been wrong about nearly every major economic challenge of the last couple of decades. If he could take this moment to enjoy a little quiet time, instead of acting like a partisan hack, we'd all be better off.
—Steve Benen 8:40 AM
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so exactly wtf did obama originally pick him for commerce?
it does seem to me that the president has some shaky peeps in his dollars dept.
uderstatement?
Posted by: neill on March 27, 2009 at 8:43 AM | PERMALINK
I think it's very very interesting that ever since Gregg "turned down" the Commerce Secretary job (which he wanted), he's been dissing Obama left and right. I wonder why he's so angry at Obama. There's something else other than partisan hackery at work here. It's personal for him, and I can't figure out why.
Posted by: Elizabeth on March 27, 2009 at 8:44 AM | PERMALINK
It shows that not even about to be retired Republicans will let the truth stand in the way of a good anecdote.
Posted by: Truth101 on March 27, 2009 at 8:52 AM | PERMALINK
It's personal for him, and I can't figure out why.
I could have something to do with the fact that his former aide, Kevin Koonce, was named in an Abramoff related plea deal just before Gregg withdrew his name from consideration. And, not to be too conspiratorial, but this recent behavior could be the start of a they're-out-to-get-me defense. It wouldn't be the first time (e.g. Delay, Stevens)
Posted by: Danp on March 27, 2009 at 8:53 AM | PERMALINK
Umm, we couldn't join the European Union because we're not in, like ya know, Europe.
Posted by: martin on March 27, 2009 at 9:05 AM | PERMALINK
I had no idea Obama wanted to us to join the EU, everything makes sense now.
I think we now know why Obama wanted Gregg at commerce, to remove him as an impediment in the Senate. Commerce is where public servants go to die. Or, donors go to gloat.
The exchange between Conrad and Gregg has been great T.V. if you like watching a good fight in Senate speak. Good times.
Posted by: Scott F. on March 27, 2009 at 9:16 AM | PERMALINK
It's cute to talk about our not being part of Europe, but Gregg clearly meant he thought we wouldn't be able to join EU in principle to make a point about our economic situation. But he has some "issues." I don't blame people for asking WTH did Obama pick him, but REM Obama would get flack no matter what he did. If he does pick Republicans to be bipartisan he has a big chance of getting a flake liek Gregg; if he doesn't, the Villagers and Pillagers will rake him for being too partisan etc.
Posted by: Neil B ♣ on March 27, 2009 at 9:20 AM | PERMALINK
I think Gregg had to do penance to get his Club For Growth membership (with its valuable discounts) card back.
Posted by: paulo on March 27, 2009 at 9:22 AM | PERMALINK
Also, I was under the impression that the current account deficit and debt to gdp limits only applied to countries that wanted to join the Euro, not the EU more generally. Talk about giving voice to Michelle Bachman's fears that we're going to abandon the dollar.
Posted by: remy on March 27, 2009 at 9:32 AM | PERMALINK
Right. The 3%-Rule applies to joining the Euro. But it's a sham anyway.
Joining the EU would require to get rid of the death penalty, amongst other things.
Posted by: Onkel Fritze on March 27, 2009 at 9:39 AM | PERMALINK
Gregg is confusing the EU and the Eurozone (countries which use the Euro as currency). The Growth and Stability pact applies to the Eurozone not the EU. The UK is part of the EU and is not a signatory of the Growth and Stability Pact.
Here's some Economics Help for the Senator
http://www.economicshelp.org/2009/01/growth-and-stupidity-stability-pact.html
Also, since when did Gregg decide that if the French do something, we should too ? That is the substance of his argument.
Posted by: Robert Waldmann on March 27, 2009 at 9:44 AM | PERMALINK
I seem to remember that not too long ago anybody speaking out against the President's policies or suggesting the current policies weren't working was called a 'traitor'. What ever happened to that?
Posted by: ThatTallGuy on March 27, 2009 at 9:45 AM | PERMALINK
OMG! Does Michelle Bachman know that Gregg wants us to adopt the EURO!!!!
He must, because otherwise those requirements wouldn't matter to him, right? Quick, someone email Drudge! Judd Gregg wants us to adopt the Euro!
No wonder Obama decided not to have him in the Cabinet! Now we see Gregg's true colors - trying to bring this great country into some kind of world currency. It's disgusting.
;-)
Posted by: biggerbox on March 27, 2009 at 10:00 AM | PERMALINK
Nice pick, Obama.
Bipartisanship!
Posted by: jm on March 27, 2009 at 10:02 AM | PERMALINK
Of course the EU requires that nations abolish the death penalty as a requirement for membership. That is churlish and narrow-minded of them, so screw them. We just won't join if they want to be like that.
Posted by: Bill H on March 27, 2009 at 10:04 AM | PERMALINK
It was distressing this morning to read the NYTimes story on Germany's economy. It seemed to suggest that although Germany may eventually slip into a worse economic position because of its conservative approach to stimulating its economy; it enjoys a superior position the the US because the German social safety net is stronger and it hasn't run huge deficits as the Bush administration did for the last 8 years. One can extrapolate that Republican deficit spending, coupled with Republican aversion to social programs, added to Republican distaste for financial regulation, both created our economic problems and are forcing us to spend more money to solve them! Perhaps in time the 'Anglo-Saxon' model will prove itself (layoffs without benefits, low regulations,etc.) but at present it doesn't look too likely.
Posted by: Harrington Carruthers on March 27, 2009 at 10:13 AM | PERMALINK
If we could enjoin, would we be joining "Old Europe" or the "New Europe"? I mean, just in case we decide to start another war, or something...
Posted by: tevio on March 27, 2009 at 10:14 AM | PERMALINK
Gregg, although a Senator, was relatively unknown before Obama nominated him. This is merely a case of reaping what was sown.
Posted by: doubtful on March 27, 2009 at 10:15 AM | PERMALINK
It's personal for him, and I can't figure out why.
Posted by: Elizabeth at 8:44 AM
It doesn't have to be personal. Gregg scared the hell out of himself, (which is personal I suppose), by not just thinking about wandering off the reservation but by actually making overtures to the enemy that he wanted to come on over and lend a hand.
He then woke up and realized it was the Ambien talking and whoever that fool was he'd better distance himself from himself and the rabble that he offered to consort with.
Gregg got excited enough about what was going on with "change we could believe in" that he temporarily lost his mind. But the real Gregg is back now so any confusion can be laid to rest.
Posted by: burro on March 27, 2009 at 10:35 AM | PERMALINK
The idea behind Judd at commerce was to win his Senate seat sooner rather than later, either in 2010 or appt (we now know it would be 2010). Simple answer.
Posted by: Frank C. on March 27, 2009 at 10:49 AM | PERMALINK
If I may segue into how to fix the economy - few on either party seem to have lighted on IMHO groundbreaking notions like mine below.
For years I've been offering the following up here and there: change corporate tax code so the base cost of employment for deduction is multiplied by a factor like 1.2X. There'd be adjustments: a limit per person, OT pay would not get the multiplier (to further encourage hiring more people instead), and the pay *must go to US citizens* to be exempted at all (or at least, to get the multiplier.) Then charge a "high" corp rate like 48%. With this or similar, it won't pay as well to lay off workers to get robots or go overseas.
Posted by: Neil B ♪ on March 27, 2009 at 10:52 AM | PERMALINK
Will someone please inform Sen. Gregg that we who live in the EU have no interest in his proposition but we thank him for his interest.
Cheers,
Alan Tomlinson
Posted by: Alan Tomlinson on March 27, 2009 at 11:24 AM | PERMALINK
Paging Michelle Bachmann, paging Michelle Bachmann
One of your own wants to join the EU! He's a communist! He's a Marxist! He's a socialist!
Go git 'em, girl!
Posted by: MsJoanne on March 27, 2009 at 11:54 AM | PERMALINK
Is Gregg polishing up his conservative bona fides in order to get a plum job in a conservative thinktank?
Posted by: jen f on March 27, 2009 at 11:58 AM | PERMALINK
Alan - My feelings are hurt that you don't want US in EU. We are such a cooperative bunch, we'd fit right in.
Posted by: Scott F. on March 27, 2009 at 12:37 PM | PERMALINK
Where did this latest goofy idea come from anyway..that the US would join the EU. Or, was he just using this a some kind of rhetorical device. After Bachmann's lunacy about the US needing to commit to not changing its currency, there's no idiotic rightwing talking point that seems impossible to them.
Posted by: digitusmedius on March 27, 2009 at 1:38 PM | PERMALINK
"I think it's very very interesting that ever since Gregg "turned down" the Commerce Secretary job (which he wanted), he's been dissing Obama left and right. I wonder why he's so angry at Obama."
File it under 'methinks he doth protest too much'. Gregg had a little scandal developing about some old military bases he had the gov funding and his brother's role in it. He would not have passed muster with the Senate vetting.
As for why obama picked him- the dems were looking to pick up his senate seat, and the commerece dept is not all that important. Only the census is important and the took that away from Gregg.
Posted by: James G on March 27, 2009 at 3:51 PM | PERMALINK
Umm, we couldn't join the European Union because we're not in, like ya know, Europe.
Posted by: martin on March 27, 2009
a minor quibble which Republicans would simply solve by moving the bubble over to the right and reconnect it to the EU bubbles
I think Eisenhower would be righteously outraged at today's Repubs.
Posted by: MarkH on March 27, 2009 at 4:24 PM | PERMALINK
@martin.
Strangely enough, while there are countless rules and regulations you need to conform too in order to actually join the EU, Ranging from specific rules for the way butcher shops are tiled to strong freedom of press guarantees, there are no geographical qualifications for EU membership.
If they wanted the USA, Argentina and Burkina Faso could all apply for EU membership. And after implementing the necessary reforms (for example the USA would have improve their food and public health standards) they could be allowed to join EU regardless of their location.
That focus on democracy, good governance, and political and commercial equality is actually one of the more appealing sides of the union.
Posted by: Ernst on March 27, 2009 at 5:00 PM | PERMALINK