Economics
Mulvaney Says U.S. Can Outgrow Higher Spending, Debt Costs
- White House encouraged by fast corporate response to tax cuts
- At conservative conference, blames budget blowout on Democrats
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At the recent pace of economic growth, gains in government revenue will outstrip rising spending and the extra borrowing costs connected to rising interest rates, President Donald Trump’s budget director predicted.
“If we can control our expenses and grow the economy,” the government’s revenue will rise as well, and deficits will shrink, Mick Mulvaney, director of the Office of Management and Budget, said at the annual Conservative Political Action Conference just outside Washington on Saturday.