Trump tweets Obama quote that never happened about economic performance

Trump tweets Obama quote that never happened about economic performance

Trump tweets Obama quote that never happened about economic performance

The White House even did a little bit of damage control, sending out economic adviser Kevin Hassett to tell the press that actually, the president should have said that the GDP is higher than the unemployment for the first time in ten years.

Wolfers went on Twitter to provide his proof against Trump's statements, taking two full tweets to show every time the GDP growth rate was higher than the unemployment rate in the last 100 years, a total of 60 times.

Standing behind the same podium where the former White House press secretary Sean Spicer once falsely claimed that Trump's inauguration drew the largest crowd there had ever been, Hassett thanked the reporter for the chance to set the record straight.

Most recently, in the first quarter of 2006, the gross domestic product grew at a rate of 5.4 percent, while the unemployment rate was 4.7 percent in January, 4.8 percent in February and 4.7 percent in March. "We have just begun", Trump tweeted. "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.

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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. "President Obama took office during the worst downturn since the Great Depression", he said. The company's research team tweeted out a list of the recent quarters when the GDP has been higher than the unemployment.

Jared Bernstein, who served as chief economist to vice president Joe Biden in the Obama Administration, said Mr Trump's deficit-financed stimulus and tax cuts likely boosted growth in the short term.

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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