Trump Wrongly Touts Economy Growth Milestone vs. Unemployment

Posted September 13, 2018

"The president wrote: "'President Trump would need a magic wand to get to 4% GDP, ' stated President Obama.

In a detailed presentation on Monday, top White House economist Kevin Hassett told reporters the world's largest economy turned a corner in the Trump era, pointing to sharp gains in business investment, business sentiment and corporate registrations.

While the numbers cited by Trump are true, the truth in how long it has been since that last occurred sees Trump well short, with the GDP growth rate outstripping the unemployment rate most recently in the first quarter of 2006. "We have just begun".

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Last Friday, former President Obama attempted to take credit for the Trump economy, arguing that he started a trend of economic recovery that continued into Donald Trump's presidency. Yet it was 50 words about the media that undercut Obama's credibility with the absurd claim that he - unlike Trump - didn't "threaten the freedom of the press". "I have to kind of remind them, actually, those job numbers are the same as they were in 2015 and 2016", he said in an address in IL. "President Obama took office during the worst downturn since the Great Depression", he said.

"What is true is that it's the highest in 10 years, and at some point, somebody probably conveyed it to him, adding a zero to that, and they shouldn't have done that", Hassert said, the Washington Examiner reported.

The overall United States economy grew at a 4.2% annual rate in the second quarter. Public appearances at the briefings are typically used to praise Trump.

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"Some of those jobs of the past are just not going to come back", Obama said, during a town hall in June 2016 criticizing Trump's campaign.

But Mr Trump is to a large extent standing on Mr Obama's shoulders, he said.

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.

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