Trump has already developed a reputation for using statistics like a drunk uses a lamp post - for support rather than for illumination. During the campaign trail, he brazenly talked about lifting the economic growth rate to 4% and even 5%. More recently the White House has produced a budget proposal incorporating a 3% p.a. growth rate for the next 10 years, which sounds a little more plausible but still ambitious when compared to history.


Source CNBC, FRED.

Unfortunately for Trump and the world, some of the earlier drivers of economic growth, such as increasing female employment participation rates, are behind us and the baby boomers are entering retirement. While the population is forecast to grow by around 9% over the next ten years, the number of over 65s will swell by 38%.