For merely suggesting that we can get back to that level [3 percent annual growth], the administration has been criticized as unrealistic. That’s fine with us. We heard the same pessimism 40 years ago, when the country was mired in “stagflation” and “malaise.” But Ronald Reagan dared to challenge that thinking and steered us to a boom that many people thought unachievable. Continue reading Mick Mulvaney: Reagan challenged “malaise” and “steered us to a boom”
Tag: Economy
Trump: “Job enthusiasm” and “business enthusiasm” has “never been higher”
We have a lot of companies moving into this country. You see the unemployment rate is at a very, very low level. Job enthusiasm and manufacturing, business enthusiasm is at record levels — never been higher.
—President Donald Trump
Remarks at Signing of an Executive Order on Apprenticeship and Workforce of Tomorrow Initiatives, June 15, 2017
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Rep. Andy Barr: Dodd-Frank led to “weakest economic recovery in 70 years,” lowest workforce participation since late 1970s
Nearly 9 years after the financial crisis, Americans are still stuck in the slowest, weakest economic recovery in 70 years. The percentage of Americans who are actually in the workforce is at its lowest level since the late 1970s, and we still have not fully reached the potential of our economic recovery. This is precisely because of the Dodd-Frank law. The Dodd-Frank law has clogged the plumbing of our economy with an avalanche of red tape.
—Rep. Andy Barr (R–KY)
Providing for Consideration of H.R. 10, Financial Choice Act of 2017, House Floor, June 7, 2017
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Rep. Louise M. Slaughter: Dodd-Frank led to “record-setting private sector job growth” and business lending
We have all seen the results of the law in the form of record-setting private sector job growth, millions of new jobs, and historic rates of business lending. It is beyond me why anyone in the world would want to repeal this law and threaten this progress. Instead of doing the bidding of the financial lobbyists who don’t really care for the law, we should be acting to uphold the trust of the people who sent us here.
—Rep. Louise Slaughter (D–NY)
Providing for Consideration of H.R. 10, Financial Choice Act of 2017, House Floor, June 7, 2017
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Mick Mulvaney: Obama administration first ever to “not have a 3 percent growth rate”
I went back and looked at some of the economic assumptions that the Obama administration made in its first couple of years, and I want to say, on a couple of different occasions, their assumed growth rate was more than 4.5 percent. Keep in mind this is the first administration in history — it was the first decade and the first eight-year period of history not to have a 3 percent growth rate, and yet they were promising us 4.5 percent growth.
—OMB Director Mick Mulvaney
Press Briefing on the FY2018 Budget, May 23, 2017
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Mick Mulvaney: Three percent growth rate “normal for the history of the country”
We have been attacked, stunningly, by some folks on the left and even in the mainstream who say that that’s an unreasonable assumption. We should stop and think how absurd that is to think that 3 percent growth in an American economy is to some people an absurd assumption. It used to be normal. Ten years ago it was normal. In fact, it’s been normal for the history of the country. I think the average over the 240-odd years that we’ve been a country has been over 3 percent. It’s certainly been over 3 percent since World War II.
—OMB Director Mick Mulvaney
Press Briefing on the FY2018 Budget, May 23, 2017
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Rep. Doug LaMalfa: Consumer Protection Bureau Most Unaccountable Agency in US History
Dodd-Frank was supposed to help lift up our economy; instead, what we got was the slowest, weakest recovery in 70 years. It was supposed to end taxpayer-funded bailouts; instead, it enshrined, permanently, Wall Street bailouts into law. It was supposed to make the financial system safer; instead, big banks got even bigger, and we have one less community bank or credit union every day. It was supposed to protect consumers; instead, higher bank fees, more expensive mortgages, fewer choices, and the most unaccountable government agency in the history of the Republic, the CFPB.
—Rep. Doug LaMalfa (R–CA)
Giving Consumers a Financial Choice, House Floor, May 18, 2017
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Sean Spicer: Economic Growth Followed Reagan and Kennedy Tax Cuts
As we do that, one of the things that you recognize through a lot of the models here is you’re going to achieve greater economic growth. It’s something that we saw both following the tax cuts in the Kennedy administration and the Reagan administration. I think that we can achieve greater growth, economic prosperity and job creation under the plan that the President laid out.