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CNBC Hardwood Schools Trump, Trump Jr., After Revised Jobs Numbers Putt Dent in the Main Economic Talking Points



The Supreme Washington correspondent for CNBC took on Thursday the president and his son and issued tweets, correcting previous statements made by the two about a presumably thriving economy.

GRAND RAPIDS, MICHIGAN – MARCH 28: Donald Trump Jr. Speaks to the press before his father's president Donald Trump's arrival during a rally at Van Andel Arena on March 28, 2019 in Grand Rapids, Michigan. Grand Rapids was the last city Trump visited during its 2016 campaign. (Photo by Scott Olson / Getty Images)

Last Friday, President Donald Trump speaks in all capital letters that the newly released government numbers showed a stellar year for the growth of gross domestic product (GDP) in 2018 under his watch. [19659004] "3.1 GDP FOR THE YEAR, BEST NUMBER IN 14 YEARS!" Trump wrote.

Unfortunately, that was not the case. As CNBC's John Harwood pointed out revised figures the annual growth rate brought down to 2.97 percent over the past year, similar to what was seen under former President Barack Obama in 2015 . ] update from Commerce Dept Bureau of Economic Analysis today:

Q4-Q4 2018 growth now 2.97%

average annual 2018 growth now 2.85%, slightly below 2.88% in 2015 https: // t.co/DTq29xbQYE [19659011] – John Harwood (@JohnJHarwood) March 28, 2019

However, Harwood did not stop there and decided to "fact check" a statement written by Trump's son Donald Trump Jr., in which the president's Elderly child tried to chastise a speech given by Obama during the mid-term election campaign in the fall.

During this October, Obama had suggested that Trump's economic skill was not as strong as the current president did. "When you hear all this talk about economic miracles, remember who started it," said Obama, implying that Trump inherited from him an already better economy.

Trump Jr. took Obama for these comments. "This is the stupidest statement in the history of both politics and economy". Trump Jr. wrote in his tweet in October. "Remember when @ realDonaldTrump said he would hit 4% GDP growth and you said" There is no magic will [sic] for it? " Now ABRACADABRA @ barackobama, we are 4.2%. You just needed a leader to get it done! "

Unfortunately, for the President's son, in his comments that attacked Obama to say something stupid, it seemed that Trump Jr. himself excluded his own ignorance, as Harwood pointed out in his tweet" updating "his" abracadabra "comment.

Quoted 4.2 percent Trump Jr. was not an annual figure, but rather a quarterly growth, Harwood explained, and as the year passed, the figures for 2018 lowered and lower.

"[A] bracadabra update," Harwood wrote . "The series fell steadily throughout the rest of 2018. 4.2% in Q2, 3.4% in Q3, 2.2% in Q4. "

At least for Trump Sr. his mistake was simple, quoting numbers before they were officially updated and finalized, but Trump Jr. apparently looked at quartlerly numbers and postponed his own ignorance of the case, mistakenly believed that they were annual figures. It is difficult to defend or return from.

far from achieving the 4 percent promise he made, the economy under Trump's watch has not yet exceeded 3% annual GDP growth .

Although the figures were recently revised, the White House continued to be island ptimistic in 2019. Trump administration predicted growth of 3.2 percent this year, although most economists believe the rate will be closer to 2.0 percent to 2.5 percent per year. Reporting from Washington Post .


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