President Donald Trump's $4.7 trillion budget proposal sets a high bar for economic growth in hopes of tackling the nation's spiraling deficit numbers while tackling the government's spending problems, White House Council of Economic Advisors Chairman Kevin Hassett said Tuesday.
"The budget absolutely does tackle the spending problem," Hassett told Fox News' "America's Newsroom." "I think in the end, the budget deficit problem is one that will depend on growth. Last year all the critics were saying there is no way Donald Trump delivers 3 percent growth and growth last year was 3.1 percent, exactly what we said."
Earlier on Tuesday, House Budget Committee Chairman John Yarmouth, D-Ky., said the president's budget cuts breaks promises he made during his campaign, including cutting Medicare.
Hassett said he disagrees because the Trump administration has done a great deal for people earning lower incomes, including creating the fastest wage groups that have been seen in some time.
He also spoke out about the growing lean toward socialism by some Democrats, calling it "ridiculous" that such ideas would take place when the economy is booming.
"Generally what happens historically you get a country in decline, things aren't working, you get some royal family that has run them into the ground and the socialists come in and offer a better vision of the future," said Hassett. "Here we have a booming economy...Iowa and New Hampshire have two of the lowest unemployment rates in the country right now. People will go into those states and say guys we should blow up the system and be socialist? It seems -- interesting to see what happens."
Sandy Fitzgerald ✉
Sandy Fitzgerald has more than three decades in journalism and serves as a general assignment writer for Newsmax covering news, media, and politics.
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