Donald Trump made a speech today at the Economic Club of New York. He pitched an ambitious plan to create 25 million jobs over the next decade, as well as achieve 3.5% growth in the overall economy. There is scepticism of whether these numbers are achievable, but this didn’t stop Trump from giving a confident presentation stating:
Over the next 10 years, our economic team estimates that under our plan the economy will average 3.5 percent growth and create a total of 25 million new jobs. You can visit our website, just look at the math, it works. - Donald Trump
According to Trump the plan would cost $4 trillion, but only $2.6 trillion under what is know as “dynamic scoring”, which essentially assumes growth will offset the tax cuts. He was also very clear that his plan would not include any cuts to entitlements or defense saying:
Again, this is spending that does not touch defense. Because we have to build up our military which is so terribly depleted. And that does not touch entitlements. - Donald Trump
Since the recession in 2008 to 2009, America has been sitting around 2% growth for the past few years. This goes to show just how ambitious, or completely unrealistic as others might say, the plan is. In order to create this growth Trump’s plan seeks to use a combination of tax reforms, reducing regulations and reworking trade deals.