(THIS ARTICLE IS COURTESY OF THE HUFFINGTON POST)
President Donald Trump boasted Monday in a tweet that it’s the first time in more than a century that America’s gross domestic product growth is higher than the unemployment rate.
Except that it’s not.
In fact, the GDP has been higher than the unemployment rate more than 20 percent of the time since 1948, according to actual facts.
Even Fox News wasn’t buying Trump’s tout this time.
Kevin Hassett, chairman of the White House Council of Economic Advisers, also shot down the president’s claim, later quipping about yet another Trump tweet that he’s not the head of the “Council of Twitter Advisers.”
But Trump still hadn’t changed his false tweet as of Monday night.
Fox News research contradicted Trump in a tweet about two hours after his claim, noting that there have been 63 quarters with a GDP growth rate higher than the average quarterly unemployment rate (several during the Clinton administration).
In 2006, unemployment was about 4.7 percent and quarterly GDP growth was significantly higher than it is now, at 5.4 percent, according to data.
Twitter had fun with Trump’s fake news — and the takedown by Fox.
Hassett told skeptical reporters that the GDP has been higher than unemployment for 10 years and speculated that someone may have given Trump that information with an extra zero accidentally added to the 10.
Trump also tweeted that President Barack Obama claimed he’d need a magic wand to boost the economy to 4.2 percent. But Obama was actually talking about boosting manufacturing jobs, not economic growth.
Asked to clarify Trump’s tweet about that, Hassett smiled and said: “I’don’t know. I’m sorry, and again, I’m not the chairman of the Council of Twitter Advisers.”
Hassett also said he’s “grateful” when the press points out mistakes.
Hassett talked to reporters at a press briefing about Trump’s positive effect on the economy.
Trump inherited a healthy economy, and most indicators remain on the same uphill incline that began under Obama — who inherited an economy in crisis from a Republican administration.
The U.S. is in its 10th year of economic growth, with 95 straight months of job creation. Trump has been in office less than 20 months.