Sen. Judd Gregg (R-NH): Financial Reform Will Create "Massive New Bureaucracies"

(Real Clear Politics) - Sen. Judd Gregg (R-NH) says financial regulation reform would be "cutting off our nose to spite our face."

Gregg says raising capital gains taxes to reduce debt would "dampen" economic activity. He says Obama should extend current benefits for another two years.

Gregg says Sen. Kent Conrad (D) should be the next director of the Office of Management and Budget.