Massive budget proposal will bankrupt the country.

Sen. Judd Gregg of New Hampshire says President Barack Obama's massive budget proposal will bankrupt the country.

Gregg says he has no regrets in withdrawing his nomination to become commerce secretary. He pulled out after deciding he could not fully back the administration's economic policies.

The senator said Obama's spending plan in the midst of a prolonged recession would leave the next generation with a country too expensive to live in.