Mulvaney to Obama Budget Director: Not Credible

This is what we’re looking for from the freshmen class:

[youtube]http://www.youtube.com/watch?v=fYGyVnlvDW0&feature=player_embedded[/youtube]


Rep Mick Mulvaney of South Carolina’s fifth district points out what many are starting to realize: These numbers just aren’t realistic.

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Mulvaney alleges results oriented accounting and said that the President’s budget is “not a credible document.”  Mulvaney says “two years ago he told us the deficit this year would only be $900 billion dollars in his budget.  Last year he told us the deficit this year would be $1.3 trillion dollars.  Yesterday he told us it was $1.6 [trillion].  Two years ago he told us that the projected that the budget deficit next year would be $557 [billion]. Last year he told us that number would be $829 [billion].  Now he is telling us the number is going to be $1.1 [trillion].”  Mulvaney concluded that “we can’t believe the numbers.”  In other words, fool me once — shame on you.  Fool me twice — and our national debt doubles in ten years.

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Additionally, Mulvaney contends, “If GDP growth is lower than expected by one percentage point, and if borrowing rates are one percentage point higher, the President’s deficits would increase by $1.7 trillion.”

In short, as massive as the budget numbers are, it’s still hiding the reality of its size and scope. Luckily, Mulvaney wasn’t having any of it and the result is a verbal beat down of White House Budget Director Jack Lew and the Obama administration.

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