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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Minority rule, corruption, disinformation, attacks on those who dare tell the truth: There is a direct line from what's happening in Russia and Ukraine to what's happening here at home. And that's what MoJo's Monika Bauerlein writes about in "Their Fight Is Our Fight" to unpack the information war we find ourselves in and share a few examples to show why the power of independent, reader-supported journalism is such a threat to authoritarians.

Corrupt leaders the world over can (and will) try to shut down the truth, but when the truth has millions of people on its side, you can't keep it down for good. And there's no more powerful or urgent argument for your support of Mother Jones' journalism right now than that. We need to raise about $450,000 to hit our online fundraising budget in these next few months, so please read more from Monika and pitch in if you can.

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