What the heck is Mick Mulvaney, director of the Office of Management and Budget, talking about?

Mulvaney, who represents the White House, said this week that the US economy is doing better than the Trump administration thought it would.

“We didn’t even think we can do it [3 percent annual gross domestic product growth] until 2020,” he said. “And we’re there actually ahead of schedule.”

Mulvaney was crowing about the fact that the GDP in the fourth quarter of 2017 grew at a 2.9 percent rate — almost the 3 percent his office wanted.

But the first quarter of 2018 doesn’t look nearly as good.

According to the most recent estimate by the Federal Reserve Bank of Atlanta, first-quarter growth was only 2 percent annualized. That’s about the same as the economy had been growing during much of the Obama administration.

Mulvaney said the 2.9 percent growth was due to anticipation of the president’s tax cuts.

So what is he going to blame for the 2 percent growth that was likely in the first three months of 2018? Oh, yeah! The weather — the handy excuse whenever a president needs something to blame.

The Bureau of Economic Analysis will announce its first estimate of first-quarter GDP — which is really a guess — on April 27.

Meanwhile, the US budget deficit was $600 billion in the six months ending March 31, even though tax receipts collected have been sharply higher. That means US debt will be climbing at better than $1 trillion a year for the foreseeable future.

And it’s already at $21 trillion!

What’s Mulvaney got to say about that?

If economic growth doesn’t surge with the Trump tax cuts, the deficit will soar even higher and there will be — as my mom says — hell to pay.