Biden's budget borrows money 'forever' and taxes the rich: Mulvaney

Former acting White House chief of staff and former OMB Director Mick Mulvaney joined FOX Business’ "Mornings with Maria" one day after the Senate held a hearing on President Biden’s budget proposal. He said the focus on borrowing "forever" and taxing the rich stood out to him most in the president's plan. 

BIDEN'S BUDGET PROPOSAL: WHAT TO KNOW

MICK MULVANEY: Any president's budget is not really a spending document because the president doesn't actually spend money -- the Congress appropriates or spends the money. So it's a messaging document. So when you ask me what the priorities are, you sort of have to go beyond the numbers. Certainly, the numbers are instructive -- if you're going to spend a bunch more money in one area and less in another, it sort of speaks to the priorities. But you have to get down into a lot of the policies that are embedded in a budget in order to find out what the priorities are. 

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So what are those priorities right now? The first one that jumps out is that they are going to borrow money forever. The budget never balances -- typical budgets, as does this one, project out 10 years -- they never project it ever balancing. So they're going to borrow money forever. 

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And they're going to tax the rich. That's what it comes down to, even if it has a negative long-term economic impact on the country. And if you look into their projections, it does. So they're admitting it's not really a good economic policy, but it's a political policy to tax the rich more. 

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