Trump claims credit for the economy. Not so fast, says Obama

Trump claims credit for the economy. Not so fast, says Obama

Trump claims credit for the economy. Not so fast, says Obama

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.

Gasparino's tweet was referring to Trump's assertion that the GDP is now higher than the unemployment rate for the first time in "over 100 years".

Donald Trump, president of the United States, celebrated the second anniversary of Hillary Clinton's famous remarks calling his supporters a "basket of deplorables" this morning with a tweet.

"Since 1948, there have been 63 quarters with a GDP growth rate higher than avg quarterly unemployment rate", Fox News Research wrote in a tweet, listing the most recent quarters with GDP growth higher than the unemployment rate as Q2 2018 and Q1 2006. "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.

Hassett briefed reporters amid a debate over how much credit Trump deserves for current economic growth, or whether it's a continuation of growth under former President Barack Obama.


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. "I have to kind of remind them, actually, those job numbers are the same as they were in 2015 and 2016".

The economy was, however, struggling when Obama took office in 2009.

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.

The biggest positive gap between the quarterly gross domestic product growth rate and unemployment occurred in September 1950. The U.S.is now its 10th year of economic growth, and in its longest period of growth with 95 straight months of job creation.

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.

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