White House Budget Director Mick Mulvaney is reveling in the success of his administration’s economic agenda.
Speaking Tuesday morning on the Fox Business Network, Mulvaney touted the rapid pace of job growth in the United States — levels of which Democratic critics previously claimed were not attainable.
“Yes, in fact, it will give me a chance to do one of those rare things that politicians love to do which is tell everybody I told you so,” he said when asked by host Maria Bartiromo if the administration will discuss the current state of the economy.
Boosted by GOP tax cuts, the U.S. economy is expected to grow at a pace of 2.7 percent this year. The positive news comes after the economy grew at a robust 3 percent rate for a length of time last year, according to the Washington Post, surpassing the expectations of many on the Left.
“Because when we trotted out the budget last year, everyone accused us of using economic assumptions that were just way too optimistic. We had 2.7 percent growth for this year, 2.9 for next year and 3 percent after that. And we’re actually going to beat that already,” Mulvaney continued on.
“So the numbers that everybody on the left said we’d never achieve, we’ve actually achieved faster than we thought we would,” he added.
In a symbolic win for Trump’s economic agenda, the International Monetary Fund was forced to upgrade their forecast on U.S. job growth for this year. The IMF had originally predicted only 2.3 percent growth for 2018, but re-examined their outlook after congressional Republicans successfully passed comprehensive tax reform.
After its passage and signature by President Trump, a wave of major U.S. companies announced an array of employee pay raises, bonuses, and added investments. The positive headlines have reinforced consumer confidence in the U.S. economy.
Yahoo has compiled a growing list — currently at 176 — of U.S. companies that have announced some sort of offering since the passage of GOP-led tax reform.
Mulvaney promised that the wave of great economic news won’t be short-lived, as the tax cuts are comprehensive and will have enduring positive effects.
“It’s been so long since we’ve had a tax bill that did as much as this tax bill did that people think in terms of short-term stimulus to the economy,” the Budget Director explained.
“What we’ve been able to accomplish over the course of the last year — not only with the tax bill but with deregulatory policies we’ve been in place — we really do feel as if we’ve changed the fundamental structure of the American economy.
“We have now enabled the economy to have long-term economic health.”
Immediately following Trump’s election win, Nobel Prize-winning economist Paul Krugman, a sharp opponent of the GOP, predicted markets would nose dive during his tenure. That dire prediction proved to be dead wrong.
White House Press Secretary, among others, have reminded the public just how off the mark that forecast was.
Aside from the intricacies of the U.S. economy and negotiations on an impending budget, Mulvaney offered an insight into President Trump’s speech Tuesday night, which will be his first State of the Union address.
The White House Director said Trump’s speech will include positivity and outreach to the other side of the aisle.
“I think you’re going to see a very upbeat, very positive speech. He’s going to start to reach across the aisle a little bit. We will talk about the successes we had over the past year.”
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