Press Release - Office of Management and Budget (OMB) Director Mick Mulvaney: "'Maganomics' is Working and Defying Critics"

"... [I]t is quite an accomplishment that over the first full three quarters of the Trump administration the economy has grown at an annual rate of nearly 3.1 percent."

Trump budget director Mulvaney: 'MAGAnomics' is working and defying critics

By Director Mick Mulvaney

CNBC

April 5, 2018

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Foremost, confidence in the American economy among businesses and consumers is near historic highs. That means businesses, both small and large, and just as importantly, ordinary Americans, have more hope in the future of their jobs, their opportunities, and their own savings accounts.

Secondly, job openings are at a record high and the unemployment rate at 4.1 percent is at its lowest level since the turn of the century. People have stopped worrying about jobs and instead are able to focus on building their careers. A job is important, but a career is a life.

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[T]he average projected growth rate for the first quarter among four prominent real-time GDP trackers is 2.2 percent — a full percentage point higher than the same quarter last year. That means the economy will have grown by 2.8 percent during the first four full quarters of the Trump administration. That's dramatically higher than the 1.9 percent the Obama administration told us to expect on their way out the door.

And dramatically higher than the administration even predicted. In our first budget we forecast economic growth would average 2.3 percent over the course of 2017. We achieved an average of 2.6 percent. With the president's tax cuts just beginning to kick in, we are well on our way to achieving the 3 percent growth we projected in our most recent budget.

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[U]nder President Trump and his MAGAnomics agenda, we've been able to restore the fundamental dynamism of the American economy. People are believing in the system again, business owners are no longer afraid of looming red tape, and families are beginning to see new opportunities to invest in their futures.

People, quite simply, are better off than they were the day before the 2016 election. Yes, some of those people work on Wall Street. But many, many more work in factories in Ohio, in construction in Florida, and in small businesses in Wisconsin.

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Read the full op-ed here.