How will Trump fund infrastructure projects?

Typically, a president’s choice for budget director barely gets noticed. Not this time.

President-elect Donald Trump has nominated conservative Republican Congressman Mick Mulvaney to be his budget director. Mulvaney has made it very clear he thinks America’s $19 trillion debt is too high and needs to come down. Budget hawks are thrilled.

“He’s not going to back down,” says Maya MacGuineas, president of the Committee for a Responsible Federal Budget. “That is the advocate we need at this point because debt is so high as a share of economy.”

There’s just one problem: Mulvaney’s record on spending and deficits is out of sync with a lot of Trump’s plans.

Trump campaigned on an economic plan to cut taxes for businesses and individuals, make no changes to Social Security, and spend up to $1 trillion on infrastructure.

The Committee for a Responsible Federal Budget warned that Trump’s campaign proposals would add more than $5 trillion to the debt in the next decade.

“No one in Washington can quite figure out the appointment of deficit hawk Mick Mulvaney to head OMB,” says Greg Valliere, chief global strategist at Horizon Investments. “I don’t know how he’s going to work.”

Now Mulvaney will be in charge of preparing Trump’s budget proposals to Congress.

trump budget director
President-elect Donald Trump, left, has nominated South Carolina Congressman Mick Mulvaney to be his White House budget director.

Here are three ways the views of Trump and Mulvaney clash:

1. Trump wants to spend. Mulvaney doesn’t: The stock market has shot up