Mnuchin: Obama Ruined the Economy, But the Economy Is Doing Great

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In an interview with the Wall Street Journal, Treasury Secretary Steven Mnuchin says President Obama held back the economy:

Mr. Mnuchin, in his first interview since his confirmation last week as Treasury secretary, said slower economic growth since the financial crisis had primarily been an anomaly and a result of Obama administration policies that can be reversed….“We think it’s critical that we get back to more normalized economic growth. More normalized economic growth is 3% or higher,” Mr. Mnuchin said.

Huh. But what about the strength of the dollar?

He said the strong U.S. dollar is a reflection of confidence in the U.S. economy and its performance compared with the rest of the world and was a “good thing” in the long run….The dollar has appreciated by 23% over the past three years and added to those gains since the November election.

“I think the strength of the dollar has a lot to do with kind of where our economy is relative to the rest of the world, and that the dollar continues to be the leading currency in the world, the leading reserve currency and a reflection of the confidence that people have in the U.S. economy,” Mr. Mnuchin said.

So which is it? Did Obama’s policies tank the American economy? Or are they responsible for stronger growth than anywhere else in the world, as reflected in the strength of the dollar? The Trumpies really ought to make up their minds about whether America is a trade-blighted hellhole or the best performing economy in the world.

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This is a big one for us. So, as we ask you to consider supporting our team's journalism, we thought we'd slow down and check in about where Mother Jones is and where we're going after the chaotic last several years. This comparatively slow moment is also an urgent one for Mother Jones: You can read more in "Slow News Is Good News," and if you're able to, please support our team's hard-hitting journalism and help us reach our big $350,000 goal with a donation today.

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