Trump made false claim about economy, GDP, unemployment rate: White House

Posted September 12, 2018

Fox Business Network's Charlie Gasparino torched President Donald Trump over his Monday tweet in which he incorrectly claimed that the GDP had eclipsed the unemployment rate for the first time in 100 years.

But the Obama administration also celebrated economic gains, with a 5.1 percent GDP in the second quarter of 2014 and four quarters of growth above the 4.0 percentage rate.

Despite Trump's incorrect tweet, both figures are good for Trump, with the GDP growth rate the highest in nearly four years and the unemployment rate the lowest it has been in nearly 18 years.

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Fox Business' daytime anchor Neil Cavuto has called out Trump on a number of occasions when the president has bashed the "fake news" and the "swamp". "And at some point somebody probably conveyed it to him adding a zero to that and they shouldn't have done that".

US President Donald Trump has forcefully claimed ownership of the American economy's vigorous health while denigrating the legacy of Barack Obama, the president in office during most of the last decade's expansion, but economists suggest any credit should be shared.

The first two numbers are correct, although they measure completely different things, and in different ways. "From the initial fact to what the president said, I don't know the whole chain of command", Hassett told reporters on Monday. Trump went on to argue, "I guess I have a magic wand, 4.2%, and we will do MUCH better than this!" "When you hear how great the economy's doing right now, let's just remember when this recovery started", he said in a speech kicking off a midterm campaign blitz.

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"Are you kidding?" asked an incredulous Pirro.

The president seemed to be imprecisely referencing remarks made by Obama at a town hall event in 2016, in which he questioned promises from Trump regarding manufacturing jobs, not economic growth. "And, usually, the answer is he doesn't have an answer".

"I'm not the chairman of the council of Twitter advisers", he said. "It's the highest in 10 years". He inherited a dismal economy in the middle of a recession that lasted 18 months, facing what many feared would be a depression, and was able to turn it around in the first years of his presidency.

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But Trump got it wrong way wrong when he said it hasn't happened in a century. Trump wrote on his Twitter account.