It is too late for the US economy to accelerate from a cold start to 4-5% annual GDP growth as foreseen by Trump’s Treasury Secretary-designate, Steve Mnuchin, and 1980s vintage supply siders like Larry Kudlow. That’s because tax cuts are not magic and do not work instantaneously—–but, instead, generate economic gains gradually over time as the supply side of the economy becomes unblocked and energized.
Draining The Swamp, Part 6: The 4-5% Growth Delusion
