Every time I think one of Trump's nominees can't be worse, he proves me wrong. But this one has very large real-world consequences for everyone, everywhere.
Trump has nominated South Carolina Representative Mick Mulvaney to head up the Office of Management and Budget (OMB). The OMB is responsible for many things, including the national debt and the debt ceiling calculations.
Mulvaney has no idea of the significance of the debt ceiling, as ThinkProgress reported in 2011 when he and his fellow conservative idiots in the Congress brought us to the brink of ruin.
When pressed on whether he understood what would happen if the debt ceiling wasn't raised, Mulvaney answered, "Well, I don’t know. I’ve asked that question, I’ve asked that question a lot."
He continued, "I’ve heard Goolsbee on Sunday say it’d be catastrophic, I’ve heard others say that. I’ve asked the question what does that mean? What does catastrophic mean? No one seems to have the answer to that. I did some research last night from CRS, they don’t even know what that means. I think they’re guessing."
I think you can see where this is going. Trump himself said he would be fine with a debt ceiling default and "debt renegotiation" in May of this year.
Jon Perr destroyed him over it.
Leaving aside Trump's 8-year time-frame compared the CBO's 10-year forecast, we're talking about cutting $40 trillion from a $51 trillion budget--approximately 78 percent. And it's not just that Trump literally can't get there from here. The U.S. economy would be a devastated hellscape if he could get anywhere close.
This is a fiscal disaster of epic proportions.
