In a rare breaking of ranks, Fox Business host, Charles Gasparino, called out President Donald Trump on Tuesday, writing on Twitter, "when was the last time [Donald Trump] said something that wasn't filled with utter bull s**t?" Yet it was 50 words about the media that undercut Obama's credibility with the absurd claim that he - unlike Trump - didn't "threaten the freedom of the press". At that time, the American jobless rate was 4.4 percent, and the gross domestic product increased at 16.5 percent in the third quarter - a difference of 12 points.
But Trump got it wrong way wrong when he said it hasn't happened in a century.
"The Economy is sooo good, perhaps the best in our country's history", Mr Trump tweeted Monday, adding moments later that he had taken GDP growth over 4.2% "and we will do much better than this!" "I like high GDP growth and low unemployment". In fact, it took him two tweets to list all the quarters in which economic growth was higher than the unemployment rate.
"It certainly not a natural comparison", Wolfers said.
And in 2013, Leonard Downie Jr., former executive editor of The Washington Post, wrote "the administration's war on leaks and other efforts to control information are the most aggressive I've seen since the Nixon administration". It's not one that a macroeconomist would make. When economists talk about GDP growth, they're not talking about a snapshot of a current condition. Quarterly GDP growth is also adjusted to come up with the annual rate.