Trump Makes False GDP Claim, Reports 'Fox Business'

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The White House's chief economic adviser, Kevin Hassett, admitted that Donald Trump had been wrong to claim that GDP growth was higher than the unemployment rate for the first time in 100 years.

Gross domestic product increased at a 4.2 annualized rate in the second quarter of 2018, and the unemployment rate was 3.9 percent in April, 3.8 percent in May and 4.0 percent in June.

President Donald Trump on Monday made a claim about the economy that his own White House had to contradict hours later.

GDP growth exceeded the jobless rate as recently as the first quarter of 2006, when unemployment was about 4.7% and quarterly GDP growth was 5.4%, government data show.

Last week, The Washington Post counted 4,713 false or misleading claims by the president since he took office ― an average of eight per day. "But 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". Economists do not usually compare the GDP rate, which measures the pace of economic growth, with the unemployment rate in that way.


Administration officials rarely contradict the president in public and nearly never from behind the podium, well aware that Trump prizes loyalty above all else in his employees.

Senator Marco Rubio (R-FL) took notice of Obama's pot-calling-the-kettle-black speech and blasted the former president in a Twitter thread for his blatant contribution to the brokenness of American politics and our current state of discord.

Trump tweeted Monday morning.

Often Sanders has come out with a statement on behalf of the White House when these issues have arisen, but the White House has not yet responded to requests for comments.

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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