Council of Economic Advisers Chairman Kevin Hassett on Monday confirmed that President Trump falsely claimed in a tweet this morning that the GDP rate is higher than the unemployment rate for the fist time in 100 years.
“The GDP Rate (4.2%) is higher than the Unemployment Rate (3.9%) for the first time in over 100 years!” Trump tweeted.
The GDP Rate (4.2%) is higher than the Unemployment Rate (3.9%) for the first time in over 100 years!
— Donald J. Trump (@realDonaldTrump) September 10, 2018
Hassett suggested that “somebody” should be blamed for “adding a zero” to the economic numbers that made their way to the president.
“I don’t know the whole chain of command,” Hassett offered, “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.”
REPORTER: The president put out a statement that said GDP growth is higher than the unemployment rate for the first time in over 100 years. That's false. He also fabricated a quote from Obama. Your thoughts?
HASSETT: Well, I'm not Chairman of the Counsel of Twitter advisers! pic.twitter.com/XtpywT3xLb
— Aaron Rupar (@atrupar) September 10, 2018
Trump’s own top economist — Kevin Hassett — just said this is flat out wrong. It’s the best in 10 years…. NOT 100 years.
“What is true is it’s the highest in 10 years. At some point someone conveyed it to him adding a zero to that and he shouldn’t have done that.” – Hassett https://t.co/QRcdqarve5
— Heather Long (@byHeatherLong) September 10, 2018
Credit to Kevin Hassett at the White House who just owned up to this Trump tweet mistake. (Not 100 years — but 10.) https://t.co/moizzpjVZQ
— Brooke Baldwin (@BrookeBCNN) September 10, 2018
As CNN notes:
The first two numbers are correct, although they measure completely different things, and in different ways.
The overall US economy grew at a 4.2% annual rate in the second quarter. Unemployment was between 3.8% and 4% during the quarter, and it came in at 3.9% in August.