Director of the Office of Management and Budget and acting Consumer Financial Protection Bureau director Mick Mulvaney just set the gold standard of government funding requests.
Every quarter, the CFPB makes a funding request from the Federal Reserve for its operating funds. Politico reports that last quarter former director Richard Cordray asked for $217.1 million. But Cordray was a progressive. Mulvaney is a conservative. And so for this quarter, Mulvaney is asking for nothing.
Here’s the money quote from his letter to the Fed: “This letter is to inform you that for the Second Quarter of Fiscal Year 2018, the Bureau is requesting $0.”
NEW: Mick Mulvaney, whose appointment to lead the Consumer Financial Protection Bureau generated significant controversy last year, requests no new funding for the bureau, arguing money on hand is sufficient to cover the next quarter’s expenses. pic.twitter.com/WW1eMSEv5s
— ABC News (@ABC) January 18, 2018
“The reason for this is straightforward,” Mulvaney wrote. The bureau has a $177 million reserve fund that can cover the projected $145 million budget for this quarter. Mulvaney wants the Fed to return the money they would’ve given to the bureau to the Treasury.
“While this approximately $145 million may not make much of a dent in the deficit, the men and women at the Bureau are proud to do their part to be responsible stewards of taxpayer dollars.”
“Sincerely, Mick Mulvaney.” God bless this man.
Chris Pandolfo is a staff writer and type-shouter for Conservative Review. He holds a B.A. in politics and economics from Hillsdale College. His interests are conservative political philosophy, the American founding, and progressive rock. Follow him on Twitter for doom-saying and great album recommendations @ChrisCPandolfo.
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