Is 4% Economic Growth Possible Anymore?
The Trump administration has been touting the 4% figure for a while now. 4% is significant growth, and the U.S. has rarely reached that rate. Seems like a large figure to be throwing around in todays economy. In fact, I'm not sure if any candidate would be able to post this amount of growth over a sustained period. Jack Bogle and Bill Gross seem to think the same.
Bond investor Bill Gross said he questions Trump’s pledge of a 3-to-4% GDP growth rate by lowering taxes. “With Trump’s polices and let’s talk about taxes and lower corporate taxes, supposedly promises 3-to-4% GDP economy as opposed to a 1.5-to-2% Obama economy, but I question that,” Gross said on FOX Business Network's Countdown to the Closing Bell.
Jack Bogle, a hero of Warren Buffett and a lifetime Republican, has told the BBC that President Donald Trump's plan to grow the U.S. economy by 4 percent a year is probably "not even possible for anybody."
Is 4% really possible and how would this be achieved?
References: Bill Gross Questions 4% Growth Warren Buffets Hero Says 4% Growth Impossible For Anyone