Here's how Trump's 3% economic growth target stacks up against past presidents

White House budget chief Mick Mulvaney told lawmakers on Wednesday that President Donald Trump's plans to slash social programs are created to increase economic growth to 3 percent and put "taxpayers first".

Democrats quickly criticized the proposed deep cuts, highlighting funding reductions for safety net programs, and even Republicans expressed hesitation. Sen. Mark Warner, D-Va., told Mulvaney Thursday. "You take somebody with the wrong mind-set, you can give them everything in the world (and) they'll work their way right back down to the bottom", Carson said.

Obama's more optimistic projections were for the period when the economy was still climbing out of the depths of the recession and had room to grow.

He was joined in his criticism by a number of Democrats.

"All Americans, but particularly one of the top federal anti-poverty officials, should understand that the main causes of US poverty are economic, not mental", said Joel Berg, CEO of Hunger Free America.

Rep. Bill Johnson, a Republican whose district encompasses eastern and southeastern OH, challenged Mulvaney on the wisdom of the budget's call to eliminate the Appalachian Regional Commission. She said that's "cruel", "heartless" and "inhumane". A majority of SNAP families with kids have at least one person who's working, according to the U.S. Department of Agriculture.

"They've been wrong on so many things", Mulvaney said.

On May 23, Vox correspondent Matt Yglesias pointed out that for anyone over 35, annual growth of 3 percent "doesn't sound outlandish" because it is reminiscent of GDP growth during the 1990s.

That 50-year-old federal-state partnership has brought improved highways, education and job-training opportunities to Ohio, Kentucky, North Carolina, South Carolina, Missouri, Mississippi, Pennsylvania and other Appalachian states that Trump carried in the presidential election.

"The Medicaid cuts being proposed by Republicans and Donald Trump are not only unconscionable but also represent a monumental lie to all of America - particularly Trump voters - who were told that Medicaid cuts would not happen if he was elected", he said in a statement. The budget says these tax cuts will be revenue-neutral, meaning that growth and income will cover the cost of the lost tax revenue, to the tune of $2 trillion.

Mulvaney also told the panel that "it'll be very difficult" to balance the budget in future proposal without cutting back the growth of Medicare and Social Security - the big retirement programs that Trump left alone in this year's effort.

"This is an elementary double count". In a Washington Post blog, former Treasury Secretary Larry Summers, an economist at Harvard University, called the logic of Trump's growth assumptions "simply ludicrous" and compared it to believing in the tooth fairy.

Mulvaney defended the budget as moral.

The budget does feature a handful of domestic initiatives, including a six-week paid parental leave program championed by Trump's daughter, Ivanka, that would be designed and financed by the states through cuts to unemployment insurance. "There's other places where we were probably overly conservative in our accounting".

Related News:

  • Trump talks up trip before returning to DC

    Trump talks up trip before returning to DC

    Trump's campaign team says the rally planned for Thursday has been postponed "due to an unforeseen change" in the president's schedule.

    Celtics star Isaiah Thomas unsure if he'll need hip surgery

    This time , he walked off the floor to collect his eighth East championship trophy with 979 career playoff points against Boston . It was a very welcomed sight in Irving's case, after he rolled his left ankle in the third quarter of Cleveland's Game 4 win.

    Trump scolds fellow NATO leaders: Spend more for military

    Trump and his White House have long complained about "leakers" they think are trying to undermine his presidency. President, could help heal EU/U.S. relations and ongoing rows about European defense spending .
  • New Crash Bandicoot N

    New Crash Bandicoot N

    Vicarious Visions is the studio in charge of the remaster's development. Video game stories from other sites on the web. Sane Trilogy may include some new content...

    Are Analysts Bullish about Grainger PLC (LON:GRI) after last week?

    Stockholders of record on Thursday, May 4th will be paid a dividend of GBX 0.52 ($0.01) per share. (NYSE:CCK) for 225,497 shares. The Firm is engaged in managing forests and producing pulp, paper and compound plastics for industrial and consumer packaging.

    Warriors favored over LeBron and Cavaliers in the Finals

    That's the number he has to reach if he's ever going to be a close to the consensus GOAT Jordan has been for the past two decades. Celtics coach Brad Stevens wants his team to find motivation in how the series played out after a fulfilling season.
  • Britain says some of Manchester bomber's network potentially still at large

    Britain says some of Manchester bomber's network potentially still at large

    Bomber Salman Abedi, a 22-year-old Briton of Libyan descent, killed 22 people and himself on May 22 at an Ariana Grande concert. Associated Press writer Jill Lawless reported this story from London and AP writer Mstyslav Chernov reported in Manchester .
    Europe must play lead role in combating terrorism: Modi

    Europe must play lead role in combating terrorism: Modi

    I will also meet top CEOs of Spanish industry and encourage them to partner with us in our " Make in India " Initiative. In an interview to German newspaper " Handelsblatt ", he pointed out, "Europe has been hit hard by terrorism".
    Bomb disposal team used to search Wigan house in UK bomb investigation

    Bomb disposal team used to search Wigan house in UK bomb investigation

    Soufiane Hamdadou, the owner of nearby restaurant Fat Olive, said he saw police with machine guns and covered faces on the street. Police closed off a number of roads around the Castlefield campus on Linby Street in Hulmebecause of a suspicious package.
  • Gregg Allman of The Allman Brothers Band dies at age 69

    Americana rock pioneer Gregg Allman has died peacefully at his home after battles with numerous health problems. Gregg Allman and the rest of the Allman Brothers were honored with a Lifetime Achievement Grammy Award in 2012.
    Els calls two-shot penalty on himself at Wentworth

    Els calls two-shot penalty on himself at Wentworth

    Explaining his subsequent decision to take a penalty, he said: "The ball came out way too good. In addition to reconstruction, all 18 greens were stripped of their old turf and reseeded.

    Donald Trump's son-in-law under Federal Bureau of Investigation radar in Russian Federation probe

    However, Moscow has repeatedly denied the allegations and Trump has said he has not collaborated with Russian Federation . CBS News reported that Trump is expected to consider plans for a shakeup of his communications operation upon his return.


Most liked

Jeb Bush no longer interested in buying Marlins
It was not immediately clear why Bush dropped his efforts to buy the Major League Baseball team. Jeter's agent, Casey Close, didn't immediately respond to an email seeking comment.

Deutsche Bank AG Trims Vornado Realty Trust (VNO) Target Price to $103.00
Also, it has an estimated price-earnings (P/E) multiple of 49.48 and a trailing 12-month price-earnings (P/E) multiple of 18.01. ProShare Advisors LLC owned 0.11% of Kite Realty Group Trust worth $736,000 as of its most recent filing with the SEC.

House intel Dem would review Kushner's clearance
Trump, meanwhile, resumed his Twitter postings from the White House on Sunday and dismissed any story based on anonymous sources. But Mr Kushner's attorney Jamie Gorelick said his client "has no recollection of the calls as described".

Trump hits out at 'fake news' following Kushner reports
There have been series of leaks coming from sources within the White House since he was inaugurated as president. That made the USA president the only one of the Group of Seven leaders who declined to face the press.

Kevin Love says Cavaliers using underdog role as 'fuel' in Finals
As these two teams clash, it will be interesting to see if rebounding becomes a differentiating factor in the series. According to the Westgate Las Vegas SuperBook, the Warriors opened as a -260 favorite, with Cleveland at +220.

Record 62 earns Noren title at Wentworth
Noren won for the ninth time on the European Tour , with four of the victories coming in a 10-event stretch last July-November. Third place was split between Tanihara, Nicolas Colsaerts and Henrik Stenson .

Frightening wreck knocks Scott Dixon out of Indianapolis 500
This was Howard's first race since the 2011 Indy 500 , and he credited the safety advancements made to the series in his absence. Incredibly, both drivers were OK after the shunt, but the race was red flagged while barrier repairs and clearance took place.

South Korea's military says North Korea has fired an unidentified projectile
The missile flew 450 km (280 miles) and more details are now being analyzed", the South Korean military said. Following the launch, South Korean President Moon Jae-in called a meeting of the National Security Council .

Cobalt International Energy, Inc. (NYSE:CIE) declared EPS of
Analysts pegging the company with a rating of 3 would be indicating a Hold recommendation. (NYSE:CIE) for 27.80 million shares. KCG Holdings Inc. increased its position in Cobalt International Energy by 314.6% in the first quarter. (NYSE:CIE).

British Airways says computer outage causing global delays
The glitch is believed to have been caused by a "power supply issue" and there is no evidence of a cyber attack, the airline said. "Were experiencing a global system outage", said the company in a reply to one disgruntled traveler on Twitter .

Poll shows Conservative lead over Labour shrinking as vote approaches
The blame is with the terrorists, but if we are to protect our people we must be honest about what threatens our security. He said: "There can be no love of country if there is neglect or disregard for its people".

North Korea: New long-range missile can carry heavy nuke
Moon said during a visit to the Defense Ministry in Seoul , Younhap News Agency reported . It was a point that was also made by Nikki Haley, the USA envoy to the United Nations.

Former CIA head to answer questions about Russian meddling
Kushner in March said he was ready to testify about his Russian Federation meetings to the Senate Intelligence Committee. Kushner initially failed to declare the meetings on forms to obtain a security clearance to serve in the White House.

Ankara Summons US Ambassador In Dispute Over Washington Brawl
Ankara views the pro-Kurdish militant cells as a terrorist group, despite them leading the fight against IS in parts of Syria. Two people who live in the US were arrested in the clash and at least 12 people, including a police officer, were injured .

Melania Trump appears to slap away president's hand in Israel
As the president and first lady stood together to admire Michelangelo's 16th century fresco, the Last Judgment, they held hands. There are a lot of signs that point in the direction that Donald and Melania Trump may even be unofficially separated.