President Trump's brand new White House website promises 4 percent economic growth and 25 million new jobs, driven by tax reform, regulatory reform and renegotiation of trade deals.
The site, which went live immediately after Trump was sworn in at noon, describes "a bold plan to create 25 million new American jobs in the next decade and return to 4 percent annual economic growth."
Those are ambitious goals outside the boldest expectations of private-sector economists. In comparison, the U.S. economy added 10 million jobs over the past decade, which included the mass job losses of the financial crisis. Annual economic growth did not hit 3 percent growth at any point during President Barack Obama's tenure. Because of slowing population growth, Federal Reserve economists don't expect the growth in the gross domestic product to reach 2 percent in the long run.
"The plan starts with pro-growth tax reform to help American workers and businesses keep more of their hard-earned dollars," the site reads. That reform is supposed to lower rates for each tax bracket and for corporations.
The page also calls for a moratorium on regulations to allow businesses to create growth. Also, Trump will renegotiate trade deals for the purpose of bringing back "good-paying" jobs. Trump "plans to show America's trading partners that we mean business by ensuring consequences for countries that engage in illegal or unfair trade practices that hurt American workers," the site reads.
Those goals are in line with Trump's campaign promises.