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'MAGAnomics': Trump administration brands its plan for 3% economic growth

  • "MAGAnomics" is the Trump administration's effort to get the U.S. back to 3 percent GPD growth.
  • By cutting taxes, reforming welfare programs, investing in infrastructure, initiating new trade deals and curbing government spending, Mick Mulvaney says America can achieve economic growth.
Donald Trump
Carlo Allegri | Reuters
Donald Trump

It's time to make America's economy great again.

At least, that is what Office of Management and Budget director Mick Mulvaney wrote in a Wall Street Journal op-ed published Thursday.

The economic agenda, which Mulvaney dubs "MAGAnomics," is an effort to get the growth of the U.S. gross domestic product back to 3 percent. It is a feat that many economists have called "unrealistic," he said.

"That's fine with us," Mulvaney wrote. "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."

By cutting taxes, reforming welfare programs, investing in infrastructure, initiating new trade deals and curbing government spending, among other things, Mulvaney said America can achieve economic growth.

"If we enact the president's broad agenda — if MAGAnomics is allowed to work — we will have set the stage for the greatest revival of the American economy since the early 1980s," he wrote.

Read the full op-ed in The Wall Street Journal here.

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