May 23, 2017

HAVE YOU MET MISS ROSY SCENARIO? Mnuchin Comments On Trump’s “Historic” Budget Proposal: “It Will Prevent Taxpayer Bailouts”

In a statement issued moments ago discussing Trump’s proposed, if completely impossible, budget proposal, Treasury Secretary Steven Mnuchin said that Trump’s “budget will achieve savings through reforms that prevent taxpayer bailouts and reverse burdensome regulations that have been harmful to small businesses and American workers.” Translation: taxpayer bailouts are imminent, especially now that the current economic cycle is the 3rd longest of all time and a recession grows likelier with every passing day.

Mnuchin also said that Trump’s proposed initiatives “coupled with comprehensive tax reform and other key priorities, will move America one step closer to sustained economic growth of 3 percent or higher.”

While we will clearly take the under, what we find most amazing about Trump’s budget proposal, is that it does not anticipated a recession until 2027. That would imply 18 years of economic growth since the 2009 recession, without a single contraction! Good luck with that.

That does seem a little optimistic.

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