President Donald Trump made a lot of promises on the campaign trail, particularly around economic issues. “Make America Great Again,” the slogan that powered the Trump campaign, was premised around bringing blue collar work back to the US and reforming programs like the Affordable Care Act.
But now that the Trump administration is in power, reality is starting to set in. And in response, White House staff appear to be making unrealistic projections for economic growth, reports the Wall Street Journal.
The numbers laid out in preliminary growth forecasts depend on gross domestic product growth of 3% and 3.5% per year. But in the past decade, the economy has grown by 2%. It’s not clear how the administration derived their numbers, but sources familiar with the discussions told the Wall Street Journal that they’re far rosier than the forecasts of independent economists.
“It is awfully hard to get to 3%. I don’t know where a number like that would come from,” Dale Jorgenson, a Harvard economics professor, told the WSJ. The economist’s far more muted prediction is 1.8% annual growth. And the Congressional Budget Office has come up with similar numbers.
As Vox points out, it’s not uncommon for incoming Presidents to come out with overly optimistic projections. But what’s uncommon is the large gap between the White House forecast and the numbers generated by independent economists—as well as the fact that staffers are angry enough to leak to the Wall Street Journal.
Trump continues pushing conspiracy theories about Joe Scarborough — immediately after reporter tells him about widower begging him to stop
At Tuesday's White House press briefing, President Donald Trump was asked by reporters if he was aware of the letter from the widower of deceased congressional aide Lori Klausutis, begging the president to stop promoting conspiracy theories that she had been murdered by former representative and MSNBC host Joe Scarborough.
The president replied, "Yeah I have." However, almost immediately after, he used the moment to continue pushing the conspiracy theory, adding, "As you know, there's no statute of limitations."
Asked if he's seen the distressed letter from the widower of Lori Klausutis about Trump turning her death into fodder, Trump says "yeah I have," then continues propagating his conspiracy nonsense, then says, "As you know, there's no statute of limitations."
Trump tells a reporter to take off coronavirus mask and stop being ‘politically correct’
At Tuesday's White House coronavirus press briefing, President Donald Trump got into an argument with Reuters correspondent Jeff Mason, when he commanded him to take off his protective face mask.
Mason refused to do so, at which point Trump mocked him, saying "You want to be politically correct."
Trump also repeated a line previously made by his press secretary Kayleigh McEnany, asking why former Vice President Joe Biden wore a mask when he was in public but not standing close to anyone, when he wasn't wearing a mask at home with his wife right next to him.
DOJ dropping investigation into GOP senator’s stock trades ignites outrage: ‘Quid pro quo, baby’
On Tuesday, the Justice Department ended its investigation into three senators accused of insider trading, including Sen. Kelly Loeffler (R-GA), all of whom sold stocks around the time they were receiving classified hearings on the coronavirus pandemic. Their investigation against Sen. Richard Burr (R-NC), however, continues.
There are some differences between the Burr case and the others, including that Burr admits to having ordered the trades himself whereas Loeffler says a financial adviser made the trades without her knowledge.