Speaking from Davos
Treasury Secretary Mnuchin is speaking from Davos on CNBC
- US is a bright spot of global growth
- The increase in the deficit is increasing government spending
- Government spending growth must low down
- The US can not sustain deficit level and the government has to cut back on spending
- The President is looking toward tax cut 2.0 which will focus on the middle class
- We need to continue to incentivize the the middle class
- tax cuts will pay for themselves
- Supports a stable dollar
- Deficits are reasonable versus GDP, but we have to grow so we can shrink them over time
- US companies/CEOs it should still feel comfortable doing business with Saudi Arabia
- No question US wants to expand borrowing capability
- Will take a bit longer to do a 50 year and hundred year bond.