Ouch:

It was obvious to most Capitol Hill insiders why President Obama wanted Republican Judd Gregg as a member of his cabinet: He’s one of the sharpest money-minds in Congress.

But instead of getting Gregg’s counsel within the administration, Treasury Secretary Tim Geithner found himself today of the receiving end of Gregg’s fiscal conservative wrath.

In a hearing before the Senate Budget Committee Gregg dressed down Geithner with facts, figures, and charts. While always keeping his cool, the exchange was somewhere between a mother’s scolding, a drill sergeant’s questioning and an attorney’s cross examination.

In his opening statement, Gregg politely called the administration’s budget forecast a lie.

“The argument that it cuts the debt in half in four years is, ahh, is truly spurious,” he told Geithner.

Double ouch:

He added pointedly, "I think we're putting at risk not only our children's future, we're clearly putting at risk the value of a dollar and our ability to sell debt."

When Gregg withdrew his nomination, he said he and the administration were "functioning from a different set of views on many critical items of policy."

Gregg's opening monologue today would indicate that was a gross understatement.

"The argument that this budget doesn't have tax increases [on everyone] is, I think, an 'Alice in Wonderland' view of the budget," he said.

Dont be late for the Tea Party.