Republican tax reform will play a major part in driving sustained U.S. economic growth above 3 percent, White House budget director Mick Mulvaney predicted Thursday on CNBC.
In arguing which baseline along with also taking a swipe at former President Barack Obama, Mulvaney made a pointed pitch to millennials which the Trump administration will usher in prosperity like they’ve never seen as working adults.
“If you’re under the age of 30, you’ve never had a job as an adult in which country when the economy is actually healthy,” Mulvaney told “Squawk Box.” “The things you can do as a young person when the economy is actually growing along with also healthy is actually dramatically different than the previous administration.”
Obama’s tenure, which began inside thick of the financial crisis, was marked by growth inside 2 percent range. While some quarters spiked above which, a sustained growth rate of 3 percent on an annual basis was never achieved.
While pointing to the 3.1 percent advance in second-quarter gross domestic product along with also the 3.3 percent gain inside third quarter’s second of three revisions, he predicted more of the same for the fourth quarter.