Hmmm, 3.1 percent growth
Posted: Mon Mar 04, 2019 4:37 pm
Some of this stuff never gets old;
Former Harvard President and Obama economic adviser Larry Summers was one of the most outspoken in saying such growth wouldn't happen.
"The budget forecasts that U.S. economic growth will rise to 3.0 percent because of the administration’s policies," Summers wrote in a 2017 Washington Post article.
"Fair enough if you believe in tooth fairies and ludicrous supply-side economics," Summers added.
Criticism of the 3 percent estimate had been widespread. Nobel-prize winning Princeton economist Paul Krugman also called such growth "implausible" while also adding that it's "not impossible, but not something that should be anyone’s central forecast."
In 2016, Krugman also predicted that, because Trump won the election, "we are very probably looking at a global recession, with no end in sight."
Former Harvard President and Obama economic adviser Larry Summers was one of the most outspoken in saying such growth wouldn't happen.
"The budget forecasts that U.S. economic growth will rise to 3.0 percent because of the administration’s policies," Summers wrote in a 2017 Washington Post article.
"Fair enough if you believe in tooth fairies and ludicrous supply-side economics," Summers added.
Criticism of the 3 percent estimate had been widespread. Nobel-prize winning Princeton economist Paul Krugman also called such growth "implausible" while also adding that it's "not impossible, but not something that should be anyone’s central forecast."
In 2016, Krugman also predicted that, because Trump won the election, "we are very probably looking at a global recession, with no end in sight."