There wasn’t much the media could say as Kevin Hassett, chair of Council of Economic Advisers, demolished former President Barack Obama’s claim that President Donald Trump inherited the booming economy from his administration.
Hassett came prepared with data and several charts showing the economy has surpassed the predicted trends under President Trump and overachieved in many key areas.
Small business optimism is near a record high.
Business investment is up $300 billion over the recent trend.
Capital goods and orders shipments are up sharply.
New business applications have soared.
And that’s not even including the obvious indicators like the historically low unemployment rate and record-breaking stock market numbers.
“I would assert that if you look at the collective body of evidence, the notion that what we’re seeing right now is just a continuation of recent trends is not super defensible,” Hassett said.
Watch the full video below:
President Trump shot back at Obama on Monday, saying his administration will do even better than it is now.
“President Trump would need a magic wand to get to 4% GDP,” stated President Obama. I guess I have a magic wand, 4.2%, and we will do MUCH better than this! We have just begun.
— Donald J. Trump (@realDonaldTrump) September 10, 2018
“‘President Trump would need a magic wand to get to 4% GDP,’ stated President Obama. I guess I have a magic wand, 4.2%, and we will do MUCH better than this! We have just begun,” the president tweeted.
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