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[size=36]The US economy "disappoints" Trump .. The 2018 goal fades[/size]
Economy | 01:26 - 27/07/2019
Moyazin News
US economic growth in 2018 is set by the administration of President Donald Trump at 3 percent, which may renew criticism of $ 1.5 trillion in tax cuts applied by the White House.
The US Commerce Department said on Friday that gross domestic product rose 2.9 percent last year, confirming estimates published in March.
The ministry's annual review of GDP data showed the economy grew 2.5 percent in the 12 months to the fourth quarter of 2018, down from the previously reported 3 percent.
President Donald Trump highlighted the annual growth figure as evidence that tax cuts and heavy government spending, which contributed to the federal budget deficit, have put the economy on a sustainable track of strong growth.
The White House and Republicans say large tax cuts, including a corporate tax cut to 21 percent from 35 percent, would outweigh their cost through strong economic growth.
Democrats are attacking tax cuts as benefiting the American rich at the expense of the middle class
US economic growth in 2018 is set by the administration of President Donald Trump at 3 percent, which may renew criticism of $ 1.5 trillion in tax cuts applied by the White House.
The US Commerce Department said on Friday that gross domestic product rose 2.9 percent last year, confirming estimates published in March.
The ministry's annual review of GDP data showed the economy grew 2.5 percent in the 12 months to the fourth quarter of 2018, down from the previously reported 3 percent.
President Donald Trump highlighted the annual growth figure as evidence that tax cuts and heavy government spending, which contributed to the federal budget deficit, have put the economy on a sustainable track of strong growth.
The White House and Republicans say large tax cuts, including a corporate tax cut to 21 percent from 35 percent, would outweigh their cost through strong economic growth.
Democrats are attacking tax cuts as benefiting the American rich at the expense of the middle class
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