If the Trump administration has one overarching goal, it’s to Make America Great Again. But what does this mean? It means we are promoting MAGAnomics—and that means sustained 3% economic growth.
For most of our nation’s modern history, a healthy American economy meant one that grew at roughly 3.5%. That was the average growth rate between the late 1940s and 2007. Since then, it has hardly topped 2%.
The difference between those two growth rates is staggering. If the American economy had grown at only 2% between the end of World War II and 2000, average household income would have been roughly $26,000 instead of $50,000.
Over the next 10 years, 3% growth instead of 2% will yield a nominal gross domestic product that is $16 trillion larger, federal government revenues $2.9 trillion greater, and wages and salaries of American workers $7 trillion higher.
https://www.whitehouse.gov/the-press-offic...
Posted By: Steve Williams
Thursday, July 20th 2017 at 8:00AM
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