Economy Fail

Mnuchin Lowers Trump’s Expectations for Economic Growth

JM Ashby
Written by JM Ashby

Trump campaigned on the absurd promise that he would deliver perpetual economic growth of 4 percent each year, but Treasury Secretary Steve Mnuchin now says they expect the economy to grow at a rate of 3 percent each year and there's a series of hilarious catches.

The Trump regime expects the economy to grow at a rate of 3 percent at some point in the near future, but only if Trump's disastrous, economy-wrecking policies are implemented.

Treasury Secretary Steven Mnuchin said an overhaul of the tax system, regulatory reform and better trade deals will help produce 3 percent U.S. economic growth within two years.

It’ll probably take two years to reach 3 percent growth “and then we can have a sustained level,” Mnuchin said in a conversation with Fox Business Network editor Maria Bartiromo at the Milken Institute Global Conference on Monday in Los Angeles.

You know, if Congress actually repeals Obamacare, it will obliterate economic growth and maybe even cause a recession. And that's just one way the Trump regime could destroy the economy.

The official Trump regime budget blueprint crafted by budget director and Edgar-suit wearing lizard Mick Mulvaney, which calls for cutting massive amounts of spending and eliminating dozens of federal agencies and programs, would also wreck the economy.

The U.S. economy is expected to grow at a rate of 2.5 percent next year under current policy (Obama policy) so, in other words, even if Trump managed to do everything he wants to do (an unlikely scenario) it would only increase economic growth by an additional 0.5 percent according to Treasury Secretary Steve Mnuchin.

That's a more significant difference than it may sound like, but it's not exactly enough to set the world on fire. I mean, Trump may literally set the world on fire, but not with economic growth.

  • ninjaf

    So, if we want .5% more growth, all we have to do is give away the country to corporations, mortgage the nation’s children’s educations, and throw those least able to afford paying for the medical bills under the bus and we will be all set? Gee, sign me up!
    /snark

  • muselet

    Donald Trump made up a GDP growth goal out of whole cloth. Steven Mnuchin now says that imaginary number is unrealistic and makes up a new GDP growth goal out of whole cloth that’s 25% lower, but goes on to say that new number is only achievable if Trumps policies are implemented and the entire economy is crashed.

    Yeah, that makes as much sense as anything else to come out of this administration.

    –alopecia

  • Aynwrong

    So basically if Trump want to achieve his goals all he has to do is nothing.

    #MakeAmericaObamaNationAgain

  • gescove

    Why are these rich a**holes so intent on screwing everyone? Steve Mnuchin is about a half a billion dollars wealthy and, what, that’s not enough?

    • Aynwrong
    • Scopedog

      It’s because sadly, they can.

      And too many in the MSM will kiss their asses and not say anything. And too many on the far Left are too busy jerking themselves off to thoughts of the grand revolution that will erupt when the sheeple finally wake up and go charging out into the streets with torches and pitchforks to actually say anything.