The White House issued a vigorous defense of the Trump administration's economic agenda on Thursday, claiming credit for changing the trajectory of the nation's record expansion – while taking aim at the Obama administration's record.
The White House issued a vigorous defense of the Trump administration's economic agenda Thursday, taking credit for changing the trajectory of the nation's record expansion, while taking aim at the Obama administration's record.
In its annual report to Congress, the White House highlighted GDP growth that has outpaced expectations and a jobless rate that has hit historic lows. The administration also pointed to gains in wages for low-skilled and minority workers as signs of the broad reach of the recovery. The report amounts to an official version of the public spat between the two presidents that played out on Twitter earlier this week. To mark the anniversary of the roughly $800 billion stimulus package that he signed during the Great Recession, Obama tweeted that the legislation was instrumental in "paving the way for more than a decade of economic growth and the longest streak of job creation in American history.".
"The deregulatory mechanism is how we have thought about productivity gains being achieved," Philipson said. "Currently, they have not fully kicked in yet, most of them, so they could have potential future effects."
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