Annualized economic growth for the fourth quarter of 2019 came in at a modest 2.1%, according to the government’s Bureau of Economic Analysis. But they underscore how overly optimistic President Trump and his economic team were of the prospects for economic growth. More specifically, they recognize that Trump’s policy is aimed heavily at achieving annual economic growth of more than 3%. There’s no disagreement that a sustained growth rate of this magnitude would be a significant achievement. The decline in the standard of living resulting from skewing economic rewards toward the top will result in an overall slowdown of economic growth, he says.

Source: Los Angeles Times January 30, 2020 16:51 UTC