Top White House Economist Says Trump's GDP Claim Was Wrong

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

Official data show this has happened frequently in the post-World War II era, according to AFP fact-checking, and the White House acknowledged Monday the tweet was incorrect.

'But what is true is that it's the highest in ten years'.

"I'm not the chairman of the Council of Twitter Advisers", Hassett said about the tweet.

President Trump on Monday mocked former President Obama for betting against the economic boom under Mr. Trump, taunting him with the recent 4.2 percent GDP growth.

The Gross Domestic Product rate and the unemployment rate both measure important -- but separate and unique- rates of change for the economy.

The economy grew at a 4.2 percent rate in the second quarter, the best performance in almost 4 years. "This is one of the first times we have seen a White House staffer stand up and say, no, I'm going, to tell the truth, and give you the actual fact", Hennessey said.

The unemployment rate, meanwhile, which comes out each month, is the percentage of unemployed people out of the entire labor force.

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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.

Asked if Obama ever said that, Hassett pleaded ignorance. Of course, Obama never said that.

And with regard to Obama's claim?

Hassett said he could not explain how Trump obtained the false information. What exactly are you going to do?

"I'm glad it's continued, but when you hear about this economic miracle that's been going on, when the job numbers come out, monthly job numbers, and, suddenly, Republicans are saying, 'it's a miracle.' I have to kind of remind them, actually, those job numbers are the same as they were in 2015 and 2016", he said during a speech in IL.

He also brushed off assertions that former President Barack Obama is also responsible for the current economic turn, but denied that he was doing this in response to Obama's speech on the topic, which Trump attacked on Twitter. "I guess I have a magic wand".

"You go into these small towns in Pennsylvania and, like a lot of small towns in the Midwest, the jobs have been gone now for 25 years and nothing's replaced them".

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