Listening to Council of Economic Advisers Chairman Kevin Hassett discuss the effects of the Trump administration's tax, regulatory and economic policies, one might infer that rationality reigns in the White House.
Kevin Hassett, chairman of the Council of Economic Advisers, on Monday told reporters President Donald Trump tweeted an incorrect claim that USA gross domestic product had surpassed the rate of unemployment for the first time in more than a century.
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.
Following Friday's blockbuster August jobs report, and with nail-biting midterm elections less than 60 days away, the 44th and 45th presidents crossed swords, with Trump continuing to counterpunch through the weekend and into Monday morning.
"I guess I have a magic wand", Trump said, pointing to 4.2 percent GDP growth in the last quarter.
Actually, about Fox News, Obama White House Communications Director Anita Dunn told The New York Times in 2009, "We're going to treat them the way we would treat an opponent". On Rosh Hashanah Hassett addressed the White House press briefing to review the ISM Purchasing Managers' Index, durable goods, employment and other statistics to bolster the proposition that we need more Trump.
GDP growth exceeded the jobless rate as recently as the first quarter of 2006, when unemployment was about 4.7% and quarterly GDP growth was 5.4%, government data show. Several economists and journalists were quick to make that point on Twitter. He said the "100 years" statement was a mistake Hassett himself could not explain.
Last Friday, former President Obama attempted to take credit for the Trump economy, arguing that he started a trend of economic recovery that continued into Donald Trump's presidency.
But as he answered a question from a reporter about Trump's tweet, he also bashfully recalled an earlier incident when he gave Sanders a "bad number".