The economy's growth figures show that President Donald Trump's "MAGAnomics" financial agenda is working, White House Office of Management and Budget Director Mick Mulvaney argued in a new opinion piece.
Writing for CNBC, Mulvaney pointed to the economic growth under Trump — more than 3 percent per quarter in the first three quarters of 2017 and 2.9 percent in the fourth quarter — as proof that policies instituted under the nation's 45th present are effective.
Mulvaney outlined three reasons why Trump's economic agenda is working: economic confidence is high, unemployment is low, and the economy is growing.
"With the president's tax cuts just beginning to kick in, we are well on our way to achieving the 3 percent [annual] growth we projected in our most recent budget," he wrote.
"Under President Trump and his MAGAnomics agenda, we've been able to restore the fundamental dynamism of the American economy. People are believing in the system again, business owners are no longer afraid of looming red tape, and families are beginning to see new opportunities to invest in their futures.
"People, quite simply, are better off than they were the day before the 2016 election."
The stock market saw massive gains in 2017, but the exchanges on Wall Street have suffered from volatility for most of this year. The tariffs Trump placed on certain imports have been referenced as one reason for the fluctuations.
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