Top White House economist fact-checks Trump on GDP claim


Several conservatives jumped on Obama's assertion that President Donald Trump was brought to power by the forces in America that "keep us divided and keep us angry and keep us cynical".

"This president since he took office, in the year and a half that he's been here has created 700,000 new jobs for African-Americans", Sanders told reporters. Such a relationship between GDP and the unemployment rate has occurred many times, most recently in the first quarter of 2006, before the financial crisis pushed the unemployment rate high and economic growth slowed markedly.

"The GDP Rate (4.2%) is higher than the Unemployment Rate (3.9%) for the first time in over 100 years!" the president said in a tweet.

"I have to kind of remind them, actually, those job numbers are the same as they were in 2015 and 2016". "We know that is not the ground you want to be on", said Kristen Soltis Anderson, a Republican pollster and Washington Examiner columnist on CNN.

It has been rare for an economic expansion to stretch between presidencies of opposite parties, which usually try to shift blame for a slowdown.

Recovery Summer 2009: Democrats conveniently forget that it was their own policy, the 1977 Community Reinvestment Act, signed into law by then-President Jimmy Carter that led to the subprime mortgage crisis during George W. Bush's presidency. "It wasn't him." He added that the recovery under Mr. Obama was the weakest in history. Hassett acknowledged Trump's tweet was wrong.

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"There's no question that there's a mixture of credit involved". "It's the highest in 10 years".

Hassett said the correct statement the president should have made is that the GDP rate rising above the unemployment rate had not happened in 10 years.

In the 70 years since the Labour Department started publishing monthly jobless numbers, the growth rate has been higher than the unemployment level more than 20% of the time when compared with GDP, which is reported quarterly.

The International Monetary Fund now predicts 2.9% growth this year and next, marking the longest period of expansion in USA history. They said it was Obama, not Trump, who first used rhetoric to pit groups of Americans against each other.

Hassett also addressed another erroneous tweet posted by the president, one where he claimed that former President Barack Obama had said "President Trump would need a magic wand to get to 4% GDP". If you sketch a graph of a lot of economic indicators, what you see is a pretty straight line stretching back into the Obama years.

That's not the case for the S&P 500 Index, which has increased more than 30 percent since Trump was elected on November 8, 2016. "I complained plenty about Fox News, but you never heard me threaten to shut them down, or call them 'enemies of the people'".