Maintain an Average 3.5% GDP Growth

Current Status: Broken

As of

"Boost growth to 3.5 percent per year on average, with the potential to reach a 4 percent growth rate."

- Position Statement

" And we're bringing GDP from, really, 1 percent, which is what it is now, and if she got in, it will be less than zero. But we're bringing it from 1 percent up to 4 percent. And I actually think we can go higher than 4 percent. I think you can go to 5 percent or 6 percent."

- Donald Trump, Third Presidential Debate, Oct 2016

The last time the GDP reached a 3.5% annual average was in 2005 and has not gone above 4% since the mid-eighties. As of the first anniversary of Trump's inauguration, the United States GDP had yet to hit anywhere near 3.5% annualized growth.  The effects of some signature policies, including the GOP tax plan and various regulatory and policy changes has yet to be fully realized. Even so, these changes may not boost the economy as much as has been promised. 


source: tradingeconomics.com

 

Through 2019, annual GDP growth peaked at about 3% the year before, but dipped back down to 2.2% making it impossible to achieve an average of 3.5% over Trump's first term, even without considering the deleterious economic effects of Covid in 2020.

gdp 2020

source: Federal Reserve Bank of St. Louis

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References
See also: Economy