Larry Kudlow, the veteran financial guru and former economist in the Reagan administration, said President Donald Trump’s proposed 2018 budget will help to accelerate economic growth by 3.5 percent to 4 percent a year.
“Roll back regulations and grow, grow, grow. Three percent, in my opinion, is minimal,” he said on CNBC. “They can do 3.5 percent to 4 percent if they get the tax cuts through ASAP.”
The U.S. economy has grown by 3.2 percent a year on average since 1947, but never exceeded 3 percent during the Obama administration, the first time in history. Trump’s proposed budget is based on tax and spending cuts to strengthen economic growth without increasing the deficit.
Kudlow said he likes the idea of reducing dependence on the government, as Budget Director Mick Mulvaney described the spending plans on Tuesday.
“It’s a taxpayer-first budget,” Mulvaney said. “We are no longer going to measure