Topic: [2017-02-20]U.S. Senate Confirms Bitcoin Supporter Mick Mulvaney As Trump’s (Read 541 times)

his actions regarding bitcoin legality in the US will mean exactly 0 in the grand scheme of things
the only people whos opinion matters in this case are the ones behind central banks
and the situation around bitcoin is too unpredictable at the moment,with several scenarios possible
it depends on the global economy and even politics more than you would think

So are people's views on if Trump is good for bitcoin changing with this new shift in power of the U.S budget to a bitcoin advocate?
It does seem to bring some optimism here about the bitcoin price about to skyrocket once it does in fact happen and Trump hands over the reigns to him and allows him to make the decision on where the U.S economy should be heading towards and that might eventually be in bitcoin's direction to bring it more into focus for all to see it for bringing us economic global stability.
Since China is going by the way side and Japan keeping their exchange wars busy, now is the prime time for the U.S to take advantage of this golden opportunity before it goes back into Chhhinnaah favor! As Trump does like to blame their economic disaster on all the time!

Yes, Mulvaney decisions or actions regarding bitcoin legality in the US will be a big impact in bitcoin community. I hope he will whispers to Trump to accept bitcoin in the States so that other countries may follow their lead.

I hope they will come up with a good way to do it. Closing the gap between the rich and the poor was attempted long ago, by the communists and look how it worked out.
Equality is a dream we've been chasing for a long time and will probably end up chasing till the rest of our lives. Also, don't get your hopes up for Trump, he has more important stuff to worry about than Bitcoin.

This is very interesting as mulvaney who has seen how bitcoin solved problem of low income owners is now the now the head of budget. The only way to resolve monetary policy that cursed the gap between the rich and the poor in our society. United States of America decision on bitcoin can make or destroy crypto currencies in general. I wish bitcoin should trade above $10,000 before trump administration come to an end.

Mulvaney steted that the Fed has “choked off economic growth”: that is a rather unusual statement if you ask me.
It seems are getting truly interesting in the States

Good news for bitcoin community. I hope with Mick Mulvaney's joining Trump's cabinet,
we will see a lot of friendly bitcoin regulations and we will see how bitcoin status will
be in the next few years in the United States.

Mulvaney has gone on the record, stating:


Looks like he's also on the Blockchain technology bandwagon as well.
We will just have to wait and see then.

This is good news for the bitcoin initiate in the White House.
Now he can whisper sweet nothings into Trumps ear while he is sleeping so he actually can say he hear of bitcoin.
 

Mick Mulvaney hopefully able to bring a positive wind for bitcoin in the United States and the impact on the overall economy, reduce the deficit or balance the budget is to build economic growth.

U.S. Senate Confirms Bitcoin Supporter Mick Mulvaney As Trump’s Budget Director
The United States Senate has confirmed Rep. Rick Mulvaney, a South Carolina Republican and a long-time bitcoin supporter, as President Trump’s budget director, a positive signal for bitcoin. Mulvaney has a reputation as a fiscal hawk and is expected to play a key role in the administration’s plans to make changes in Washington, D.C., according to The New York Times.

Mulvaney has been interested in bitcoin since 2014 after participating in a Small Business Committee hearing on bitcoin. He said it could influence monetary policy. He has also accepted bitcoin donations.

He and Jared Polis, a Colorado Democrat, launched the bipartisan Blockchain Caucus in September.

Other pro-bitcoin enthusiasts in the current administration include Peter Thiel, PayPal co-founder who served on Trump’s transition team, Balaji Srinivasan, 21.co-CEO and potential FDA director nominee, and Travis Kalanick, Uber CEO who joined Trump’s team of advisors.

A Narrow Confirmation

The Senate confirmed Mulvaney by a 51-to-49 vote along mostly party lines. Arizona Republican John McCain joined Democrats in opposing the nomination. McCain, chairman of the Armed Services Committee, objected to Mulvaney’s support for military spending limits. McCain said it would be irresponsible to place the future of the defense budget in Mulvaney’s hands.

Mulvaney will lead the Office of Management and Budget with a full agenda, since the administration has to prepare a budget and decide whether to raise the debt limit. The administration has also pledged to introduce a tax plan soon.

Mulvaney favors big changes in Medicare and in raising the Social Security eligibility age, a position Trump opposed during the presidential campaign. Mulvaney’s positions on government spending also are not consistent with Trump’s promises to invest in infrastructure and the military.

Mulvaney blamed Democrats and a handful of Republicans for the government shutdown under the Obama Administration.

Where Mulvaney Differs From Trump

During the nomination proceedings, Mulvaney defended his plan to support entitlement program cuts that Trump said he would protect.

Speaking before the Senate homeland security and budget committees, he acknowledged that his positions on the national debt and spending are not in sync with Trump’s campaign pledges and statements from some advisers.

Mulvaney also said during the nomination proceedings he will continue speaking out about the rising costs of Medicare and Social Security.

Mulvaney said he favors raising the retirement age for Social Security to 70, but he said he would not cut benefits for current recipients. He said he supports means testing to qualify for Medicare.

Democrats warned that the nomination indicated Trump was changing his stated intention to protect entitlements.

A Fiscal Hawk

Mulvaney has questioned the need to raise the national debt ceiling, saying he believed the government should prioritize payments if there is a danger of breaching the debt limit.

Mulvaney, elected to Congress in 2010, is known as a strident deficit hawk. He was a founding member of the Freedom Caucus and a leader in the group’s attempts to remove then-House Speaker John Boehner in 2015.

He supported the government shutdown over the Affordable Care Act and was willing to do it again two years later in an attempt to defund Planned Parenthood.

Mulvaney backs the “penny plan” to cut 1 percent of federal spending each year for five years.

He is among those lawmakers who have opposed infrastructure spending. Trump’s advisers have not said how the government will pay for a proposed infrastructure package that could reach $1 trillion.

Trump’s plan to cut taxes could reduce federal revenue by trillions over the next decade, independent analysts have said. Mulvaney has said reforming the tax code could create growth when asked if tax cuts should be allowed to add to the deficit.

He said Trump should first consider the impact on the overall economy. The best way to cut the deficit or balance the budget is to build economic growth, he said.

Another option is to reduce spending. Trump is considering cutting the Energy and Commerce departments, along with eliminating arts programs.
link:https://www.cryptocoinsnews.com/u-s-senate-confirms-bitcoin-supporter-mick-mulvaney-trumps-budget-director/