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.