The OMG moment at a congressional budget hearing you should care about but don’t — yet

From The Washington Post — Written by Jonathan Capehart — Image courtesy of AP Photo/Jacquelyn Martin

Mick Mulvaney, director of the White House’s Office of Management and Budget, said out loud on Wednesday what some feared back in March someone from the Trump administration would say. America is running headlong toward default.

This all went down at a House Budget Committee hearing. Surely an otherwise humdrum affair as dry as the towel section at Macy’s. But a question from Todd Rokita (R-Ind.), vice chairman of the Budget Committee, gave Mulvaney the opportunity to provide that much-needed element of OMG.

Rokita: Does the administration have a preferred legislative approach to the debt-limit issue? For example, a specific amount or a specific time period? Secondly, how soon do you think you need to act?

Mulvaney: Very briefly, the answer to your first question is no, we do not have a final stated policy yet. I can tell you that I met about an hour yesterday with [Treasury] Secretary [Steven] Mnuchin to discuss this exact topic. … Secondly, regarding the timing, my understanding is that the receipts, currently, are coming in a little bit slower than expected and you may soon hear from Mr. Mnuchin regarding a change in the date.

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