Published: Thu, September 13, 2018
Money | By Wilma Wheeler

Before Trump, Obama was an 'enemy of press freedom'

Before Trump, Obama was an 'enemy of press freedom'

Such a relationship between GDP and the unemployment rate has occurred many times, most recently in the first quarter of 2006, before the financial crisis pushed the unemployment rate high and economic growth slowed markedly.

Gasparino was writing in response to a tweet from Wall Street Journal columnist Kimberley Strassel.

"The Economy is sooo good, perhaps the best in our country's history", Mr Trump tweeted Monday, adding moments later that he had taken GDP growth over 4.2% "and we will do much better than this!"

Gasparino responded with a mix of snark and anger.

The White House's top economist on Monday acknowledged that President Donald Trump had made a false statement hours earlier when he used a pair of statistics to describe the strong economy. Later that same day, Council of Economic Advisers Chairman Kevin Hassett said the president was wrong.

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. "Like, from the initial fact to what the president said, I don't know the whole chain of command", Hassett said.

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

Trump regularly deletes and re-posts tweets to correct misspellings or to rephrase his points. What is true is that it's the highest in 10 years.

In the 70 years since the Labour Department started publishing monthly jobless numbers, the growth rate has been higher than the unemployment level more than 20% of the time when compared with GDP, which is reported quarterly.

Hassett said he suspected someone "added a 0" to the fact as it was "conveyed" to the president.

Gasparino's tweet referenced Trump's incorrect assertion that GDP had exceeded the nation's unemployment rate for the first time in 100 years.

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