Trump Regime

Mick Mulvaney Attacks His Own Budget Proposal

JM Ashby
Written by JM Ashby

The White House released a ridiculous, dead-on-arrival $4.4 trillion budget proposal this morning that would explode the deficit far beyond what we already expect to see in the coming years.

Now, you may not necessarily care about the deficit one way or another, but here's someone who allegedly does: Mick Mulvaney.

The former Freedom Caucus founder warns us that our coming deficits could send interest rates soaring.

Mulvaney said the OMB is updating the 2018 budget released last year and its 2019 request, due Monday, in response to the two-year budget deal the president signed into law on Friday morning.

That agreement, which ended an hours-long partial government shutdown, boosts government spending by almost $300 billion. Mulvaney said that in his previous job as a fiscally-conservative congressman representing South Carolina, he would “probably not” have voted for the bill.

The additional spending could increase the deficit to about $1.2 trillion in 2019, and there’s a risk that interest rates “will spike” as a result, Mulvaney said.

The budget proposal released today may be "Trump's budget," but it's also Mulvaney's budget. Mick Mulvaney is the White House Budget Director. The Office of Management and Budget produces the White House budget proposal. Trump's budget proposal was released by Mulvaney's office this morning.

Mulvaney told CBS News that he wouldn't have voted for such proposals if he were still just a member of the Freedom Caucus in the House.

That's odd considering that it's his idea.

Show me a Republican in Congress and I'll show you a fraud.

  • Badgerite

    Yes, of course the GOP budgets will send interest rates soaring because they are, basically, doing what they always do with tax cuts which is paying for it by putting it on the federal ‘credit card’. They are borrowing money to give a whopping tax cut to their 1% donor base. While not cutting back on spending. Quite the contrary. So they are cutting the government’s income stream and increasing government spending. A lot. That means the federal government borrows the money. That will put pressure on interest rates ( see supply and demand). What Mulvaney is admitting, of course, is that the tax ‘cuts’ for the 1% donor base of the GOP (which will be partially paid for by tax increases for the lower and middle incomes Americans) will not “pay for themselves” as Lyin’ Ryan said by increasing government revenues. What a surprise. And the increase in taxes on the lower and middle incomes, matched with cuts to Medicare and Medicaid and other government programs are proposed in the latest ‘infrastructure plan’, spiked inflation and spiraling interest rates will devastate the middle class.
    So, that’s the ‘revolution’. A whopping tax cut for the 1% which is paid for by borrowing money. With interest.
    And what is basically a federal sales tax ( see highway tolls on federal highways) on the transportation system that business will pass on to the consumer.
    And a patchwork ‘infrastructure’ proposal that depends mostly on state and local spending.
    This is ridiculous. It violates just simple rules of ‘how everything works’ economics.

  • muselet

    If Mick Mulvaney had the courage of his convictions, he’d resign from his position(s) in the administration forthwith. Hell, if he had any convictions at all, he’d never have taken a job in the administration.

    Clownshoe.

    –alopecia

    • Badgerite

      The GOP is a grift operation. They never actually tell the truth about what they are doing. Even when it is obvious like their voter ID ( suppression ) laws.

  • Georgie
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