Republican Senator Judd Gregg from New Hampshire wrote the TARP Act and says that the Act stipulates that the returned TARP money “shall” be used to reduce the debt – and that using $30B for a lending program for small community banks is not part of the Act. He also says the 2011 budget proposal puts the U.S. on the path to fiscal insolvency. He believes it is a “huge deficit machine” that will lower the quality of life for our children.