Trump Administration Finally Admits the Economy Isn’t Booming

Here’s an unexpected jolt of reality from the Trump administration:

President Trump’s top economists predict the U.S. economy will not grow at a rate of 3 percent or higher this year unless Congress enacts a major infrastructure package and additional tax cuts….In the annual Economic Report of the President released on Thursday, Trump’s Council of Economic Advisers predicts that if the president and Congress do not make further policy changes, the U.S. economy will grow at a 2.4 percent annual pace this year and at a 2.3 percent pace in 2021. That kind of growth is well below what Trump promised and similar to what occurred under President Barack Obama.

In other words, the economy is going to continue growing at about the same steady rate it’s been growing for the past decade. The nonsensical projections of 3+ percent growth that the Trumpies made in order to get elected were just that: nonsensical. Or, in the usual vernacular, they were lies. It’s not as if Trump’s economists haven’t known this all along, after all.

As for Trump himself, he hasn’t commented yet. When he does, I suppose he’ll whine yet again about how the mean old Federal Reserve is keeping interest rates too high. You may judge for yourself:

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Which is also a pretty great way to describe Mother Jones' mission: People coming together around the truth to hold power accountable.

And right now, we need to raise about $400,000 from our online readers over the next two months to hit our annual goal and make good on that mission. Read more about the information war we find ourselves in and how people-powered, independent reporting can and must rise to the challenge—and please support our team's truth-telling journalism with a donation if you can right now.

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