Reported 1 day ago
Incoming Treasury Secretary Scott Bessent's ambitious '3-3-3' plan aims for 3% annual GDP growth, a budget deficit of 3% of GDP, and an increase in domestic oil production. However, experts predict more modest outcomes, estimating GDP growth at only 2%, persistent budget deficits around 6% of GDP, and minimal increases in oil production. Many economists believe current challenges like an aging population and high national debt will hinder achieving Bessent's goals, leading to forecasts that closely resemble a '2-6-0' scenario.
Source: YAHOO