Hodes concerned about bank bailout funding

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New Hampshire Congressman Paul Hodes says he looks forward to taking a fine tooth comb to President Barack Obama’s $3.55 trillion budget plan.

Obama on Thursday sent Congress a 134-page outline, with further details to come in April. Hodes says he wants to make sure the focus is on creating jobs and reinvesting in health care, alternative energy and education, not wasteful government programs.

Hodes, a Democrat in his second term, says he’s concerned that Obama has proposed up to $750 billion in increased spending under the government’s rescue program for banks and other financial institutions. The administration called the request for additional bailout resources a "placeholder" in advance of a determination by the Treasury Department of what will actually be needed.

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