senator grassly. senator white? >> thank you chairman nelson and thank you chairman better mackey, i want to ask you more about the shocks to the economy that you have been discussing. you talk about the pace of the recovery being slow and particularly for the millions people who are hurting, unemployed, under employed and that all of this really comes together as part of a sluggish expansion that has left the economy vulnerable to shocks. so i can see plenty of shocks. the payroll tax debate bogging down into a quagmire and talking about two months or another shorte shorte-term effort. we mentioned europe and another one mentioned the question of sequ sequestration and that puts a negative comment out, because in the lame duck 2012 congress, you would see the same sort of flailing that you saw in 2010. my first on the shock issue, doesn't it serve to shock our economic system just to have all this delay and week after week of fighting and inability to get decisions on payroll taxes and others, isn't that in and of

testifying before the senate finance committee, senators making their way into the room, senator grassly there, the administration is can asking for an increase of nearly 7%. senator hatch will be there. most of it goes to the irs, with additional resources to enforce the tax code, it estimated it can get $5 for every dollar spent, the president's budget calls for a fee of $61 billion on the biggest banks and firms to compensate the government for their actions during the crisis, and a percentage going to help refinance mortgages. this is one of several hearings that we are recovering today, under way already is the armed services committee. and and the deputy director of the office of management and budget is going on, that has just gotten under way, we are covering that and it's live now on cspan.org, this hearing should get under way shortly. >>> here on cspan 3, waiting for timothy geithner to testify for the proposed budget. the washington said that another measure in the proposal would seek to find $70 million in savings by changing the production of nickels and pennies, a -- the p