Why 'MAGAnomics' Isn't Likely To Work
Sustained 3 percent growth is a target the U.S. is unlikely to hit, and some Trump policies might even make it less possible.
The Trump administration this week unveiled its strategy for the economy and dubbed it "MAGAnomics."
In the Wall Street Journal, Trump budget director Mick Mulvaney wrote that "the focus of MAGAnomics is simple: Grow the economy and with it the wealth of, and opportunity for, all Americans."
The simple plan: Ratchet the economic growth rate up to a sustained 3 percent annually. That's an ambitious target, given current levels of around 2 percent.
But there are a couple of problems. One is that sustained 3-percent growth is highly unlikely — and it's not a simple proposition.
"I can't see how it's achievable," said Joel Naroff, chairman of Naroff Economic Advisers, an economic consulting firm. "I never say never. Anything is possible. But the
