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riversedge

(77,691 posts) Sun Aug 10, 2025, 06:45 PM Aug 10

Trump's top economic adviser, Kevin Hassett, pushes shiny new Obama conspiracy

Trump's top economic adviser pushes shiny new Obama conspiracy

https://www.dailykos.com/stories/2025/8/6/2337151/-Trump-s-top-economic-adviser-pushes-shiny-new-Obama-conspiracy

Wednesday, August 06, 2025 at 6:45:07p CDT

National Economic Council Director Kevin Hassett appeared on Fox Business Wednesday to spin President Donald Trump’s uncertain economy and the concerning new jobs report. When host Maria Bartiromo asked the eager MAGA stooge to address Trump’s poppycock theory that the latest jobs report revisions were “rigged,” Hassett did his best to make excuses for his boss and misinform the public.

Hassett delivered a meandering statement and ultimately suggested that under President Barack Obama, the Bureau of Economic Analysis released inflated Gross Domestic Product numbers ahead of Election Day.

Related | Trump comforts himself with new bonkers theory to explain his economy

"I had previously briefed Mitt Romney's campaign that I thought that they're probably going to have a number that looked like a recession. And then, in fact, they got a really big, beautiful number right before the election. Probably had a big effect on the election,” Hassett claimed with zero evidence. “And then that number ultimately was revised away, and it was revised away because it turned out that the number happened because of the biggest ever, all the way back to World War II, increase in defense spending.".........................

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Trump's top economic adviser, Kevin Hassett, pushes shiny new Obama conspiracy (Original Post) riversedge Aug 10 OP

It should come as no surprise that HASSETT is lying his ass off. Wiz Imp Aug 10 #1

That grinning psychopath would smile telling you he killed your dog. dem4decades Aug 10 #2

Wiz Imp

(6,967 posts)

1. It should come as no surprise that HASSETT is lying his ass off.

Reply to riversedge (Original post)

Sun Aug 10, 2025, 07:33 PM

Aug 10

This is such a blatant lie as to be totally unbelievable that they think they can get away with it. Do they not realize that it is very easy to check and find out the truth? Do they really not know that at the very least economists will call them out on the lie?

The GDP estimate released just before the election in 2012 was the advance estimate for 3rd quarter 2012. That estimate was 2.0% growth. Citation:
https://obamawhitehouse.archives.gov/blog/2012/10/26/advance-estimate-gdp-third-quarter-2012

Today’s report shows that the economy posted its thirteenth straight quarter of positive growth, as real GDP (the total amount of goods and services produced in the country) grew at a 2.0 percent
annual rate in the third quarter of this year, according to the “advance” estimate released by the Bureau of Economic Analysis.

The revised estimate released a month later was HIGHER! citation:
https://www.bea.gov/news/2012/gross-domestic-product-3rd-quarter-2012-second-estimate-corporate-profits-3rd-quarter

Real gross domestic product -- the output of goods and services produced by labor and property
located in the United States -- increased at an annual rate of 2.7 percent in the third quarter of 2012 (that
is, from the second quarter to the third quarter), according to the "second" estimate released by the
Bureau of Economic Analysis.

The second and final revision released at the end of December showed it was even higher than that!! citation
https://www.bea.gov/news/2012/gross-domestic-product-3rd-quarter-2012-third-estimate-corporate-profits-3rd-quarter-2012

Real gross domestic product -- the output of goods and services produced by labor and property
located in the United States -- increased at an annual rate of 3.1 percent in the third quarter of 2012 (that
is, from the second quarter to the third quarter), according to the "third" estimate released by the Bureau
of Economic Analysis. In the second quarter, real GDP increased 1.3 percent.

He's also lying that the growth was only because of defense spending:

The increase in real GDP in the third quarter primarily reflected positive contributions from
PCE, private inventory investment, federal government spending, residential fixed investment, and
exports that were partly offset by a negative contribution from nonresidential fixed investment. Imports,
which are a subtraction in the calculation of GDP, decreased.

dem4decades

(13,145 posts)

2. That grinning psychopath would smile telling you he killed your dog.

Reply to riversedge (Original post)

Sun Aug 10, 2025, 08:42 PM

Aug 10

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