Treasury Secretary Steven Mnuchin said Wednesday morning that President Donald Trump's economic plan is working and asserted that the country is not "going back to socialism."
"The U.S. economy is doing terrific," Mnuchin said from the White House. "And as the president talked about last night, his economic plan is working. We're not going back to socialism. We're going on an economic plan for America that works."
"We continue to have very strong jobs numbers," he added. "I think you've just begun to see the beginning to tax reform, I think you're going to see that kick a lot again."
Mnuchin's comments came less than 24 hours after Trump's second State of the Union address to Congress. The president reiterated the importance of bipartisanship in his speech and called upon lawmakers to end "decades of political stalemate" by making progress on his political priorities like immigration, infrastructure and economic growth.
Trump also criticized what he deemed a growing movement among leftist lawmakers toward the economic philosophy of socialism.
"Here, in the United States, we are alarmed by new calls to adopt socialism in our country. America was founded on liberty and independence –- not government coercion, domination, and control," Trump said Tuesday night. "We are born free, and we will stay free. Tonight, we renew our resolve that America will never be a socialist country."
Recent indicators show the U.S. labor market at or near full employment and GDP gains have remained healthy. The unemployment rate ticked higher to 4 percent in January, thought be to due in part to more Americans returning to the workplace.
This story is developing. Please check back for updates.
from Top News & Analysis https://cnb.cx/2UKyJCm
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