27 PAST THE HOUR. THIS WEEK PRESIDENT TRUMP CALLED
PRESIDENT OBAMA A CON JOB FOR
SIMPLY TWEETING ABOUT THE
RECOVERY ACT.
RECOVERY ACT. STEVE RATTNER HAS ANOTHER FACT
CHECK.
CHECK. FACTS ARE ALWAYS GOOD.
>> WE LIKE FACTS.
>> IN RESPONSE TO THE
PRESIDENT’S TWEETS GLOATING
ABOUT THE ECONOMY.
>> THE OBAMA RECOVERY, YEAH.
11 YEARS IN.
>> THE PRESIDENT IS NOT VERY
GOOD ON FACTS SO WE TRY TO DO
OUR BEST HERE TO MAKE UP FOR
THAT.
THAT. YOU GUYS HAD A GOOD RUN AT IT
YESTERDAY AND I WANTED JUST TO
START WITH THAT TWEET THAT YOU
PUT UP YESTERDAY, PIVOT FROM
THERE.
THERE. I JUST WANT TO FOCUS ON THE
PARTS HIGHLIGHTED IN YELLOW
WHERE HE SAYS THAT HE NOW HAS
THE BEST JOBS EVER.
AND SO IF WE TAKE A LOOK AT HIS
ACTUAL JOBS RECORD, WHAT YOU
WILL SEE, IN FACT, THAT NOT ONLY
DOES HE NOT HAVE THE BEST JOBS
RECORD EVER, HE DOES NOT HAVE
THE BEST JOBS RECORD INCLUDING
EVEN PRESIDENT OBAMA.
IF YOU LOOK AT JOB CREATION
UNDER OBAMA SINCE THE RECOVERY
BEGAN IN THE FALL OF 2010, OBAMA
CREATED 201,000 JOBS A MONTH.
IF YOU LOOK AT WHAT TRUMP HAS
DONE IN HIS FIRST THREE YEARS HE
HAS CREATED 182,000 JOBS A
MONTH, JOBS A MONTH, SO 10% LESS
JOB CREATION UNDER TRUMP THAN
UNDER OBAMA.
UNDER OBAMA. IF YOU WANT TO --
>> WAIT.
>> WAIT. WAIT A SECOND, STEVE.
I’M CONFUSED.
I’M CONFUSED. WAIT.
WAIT. BECAUSE I READ THE TRUMP TWEET
AND HE SAID THAT HE HAD THE BEST
JOB GAINS EVER, RIGHT?
BUT I’M LOOKING AT THESE CHARTS
THAT COME FROM DONALD TRUMP’S
GOVERNMENT STATISTICS, HIS OWN
ADMINISTRATION, AND THIS IS
SAYING THAT BARACK OBAMA DID 10%
BETTER ON JOBS THAN DONALD
TRUMP?
TRUMP? >> TRUMP DID NOT EVEN HAVE THE
BEST JOBS RECORD OF THE 21st
CENTURY LET ALONE ANY CENTURIES
THAT PRECEDED IT.
YOU CAN SEE THAT REALLY STARKLY
ON THE NEXT SLIDE BY SIMPLY SUMS
THIS UP AND BASICALLY SAYS THAT
OVER THE LAST 36 MONTHS OF OBAMA
COMPARED TO THE FIRST --
>> WAIT, THE BLUE IS TRUMP,
RIGHT?
RIGHT? IS TRUMP THE BLUE?
>> TRUMP IS -- NO, WE’RE
STICKING TO THE TRADITIONAL
COLORS, BLUE FOR THE DEMS, RED
FOR THE REPUBLICANS.
>> OH.
>> OH. >> AND SO OVER 36-MONTH PERIOD
UNDER --
UNDER -- >> WAIT.
>> WAIT. BUT THIS SAYS THAT TRUMP IS 1.5
MILLION WORKERS BEHIND, BUT
TRUMP JUST SAID THIS WEEK THAT
HE HAD THE BEST JOB RECORD.
THIS SHOWS -- AND THIS IS THE
BUREAU OF LABOR STATISTICS THAT
DONALD TRUMP RUNS NOW.
>> I HOPE HE DOESN’T FIRE THEM.
>> I DON’T UNDERSTAND.
CAN YOU EXPLAIN?
>> THE ANSWER -- THE SIMPLE
ANSWER IS THAT TRUMP HAS TAKEN
CREATIVE LIBERTY, SHALL WE SAY,
WITH THE NUMBERS IN HIS TWEETS
AND HE DOES IT ALL THE TIME.
THE 15,000 LIES, YOU ARE SEEING
AN EXAMPLE OF THAT, THAT HIS
JOBS RECORD IS NOT EVEN AS GOOD
AS OBAMA’S TO THE TUNE OF 1.5
MILLION JOBS OVER THE SAME
36-MONTH PERIOD.
36-MONTH PERIOD. I’M NOT TAKING ALL OF OBAMA AND
COMPARING IT TO TRUMP JUST
EXACTLY THE SAME, LAST 36 MONTHS
OF OBAMA, FIRST 36 MONTHS OF
TRUMP, 1.5, 2 MILLION FEWER JOBS
UNDER TRUMP.
UNDER TRUMP. >> WOW.
>> WOW. >> AND THEN IF YOU TURN TO
ANOTHER CLAIM THAT WAS IN THAT
TWEET WHERE HE TALKED ABOUT THE
GREATEST ECONOMY EVER, THIS
IS -- I PULLED THIS QUOTE FROM
ANOTHER PLACE, BUT IT’S THE SAME
IDEA, HE’S SAYING WE’RE GOING TO
GET GDP TO GO TO 4, 5, EVEN 6%.
THIS IS WHAT HE SAID AFTER HIS
TAX CUT WAS PASSED IN THE FALL
OF 2017.
OF 2017. WHAT’S THE REALITY?
THE REALITY IS THAT JOB GROWTH
HAS ONLY POKED ITS HEAD ABOVE 3%
FOUR TIMES, THERE HAS BEEN NO
4%, THERE’S BEEN NO 5%, THERE’S
BEEN NO 6% AND, IN FACT, IF YOU
LOOK AT TRUMP’S GDP NUMBERS ON
AN ANNUAL BASIS, THEY HAVE BEEN
DECELERATING FROM 2.8% IN 2017
TO 2.5% IN 2018, LAST YEAR DOWN
TO 2.3% AND THE PRIVATE SECTOR
THINKS IT WILL BE MORE LIKE 2%
THIS YEAR.
THIS YEAR. SO --
SO -- >> STEVE, I DON’T UNDERSTAND.
I DON’T UNDERSTAND.
DONALD PROMISED US IF WE PASSED
THESE TAX CUTS WE MAY GET UP TO
4, 5, 6% GDP GROWTH AND FURTHER
COMPOUNDING THE CONFUSION IS THE
FACT THAT DONALD TRUMP AND A LOT
OF PEOPLE IN THE MEDIA SAY THIS
IS JUST THE BEST ECONOMY EVER
AND YET I SAW A CHART A FEW DAYS
AGO THAT AXIOS REPRINTED, AGAIN,
BASED ON DONALD TRUMP’S OWN
NUMBERS FROM DONALD TRUMP’S
ADMINISTRATION THAT IF YOU TAKE
THE LAST TEN PRESIDENTS AND
THEIR RECORD ON GDP, DONALD
TRUMP IS IN SIXTH PLACE OUT OF
TEN PRESIDENTS.
TEN PRESIDENTS. SO ACTUALLY NOT ONLY IS THIS NOT
THE BEST EVER, HE IS IN LIKE THE
BOTTOM HALF OF THE CLASS AGAIN.
>> THAT IS SIMPLY A FACT.
HIS GDP NUMBERS IN THE KIND OF
LOW 2% RANGE ARE NOTHING --
>> THAT’S TERRIBLE.
>> I WOULD MAKE A BROADER POINT,
JOE, WHICH IS THAT IT’S REALLY
HARD -- AND I’M TRYING TO BE
INTELLECTUALLY HONEST -- THIS IS
REALLY HARD TO THINK OF THINGS
DONALD TRUMP HAS ACTUALLY DONE
TO MAKE THE ECONOMY BETTER.
WE HAD A TAX CUT THAT CREATED A
SUGE GAER HIGH, WITH HE GOT SOME
GROWTH FOR A COUPLE QUARTERS AND
THEN IT TAILED OFF, CREATED SOME
INVESTMENT, INVESTMENT IS NOW
NEGATIVE IN THIS COUNTRY.
THE TRADE WAR DEVASTATED THE
AGRICULTURAL SECTOR,
AGRICULTURAL SECTOR, MANUFACTURING JOBS ARE BEING
LOST TODAY IN ALL OF THE SWING
STATES THAT ARE GOING TO BE
IMPORTANT IN THE ELECTION.
SO WHEN YOU BOIL IT ALL DOWN THE
QUESTION IS WHAT DID DONALD
TRUMP ACTUALLY DO TO MAKE THE
ECONOMY BETTER, OR IS THIS, IN
FACT, AS PRESIDENT OBAMA
SUGGESTED IN HIS TWEET ON
MONDAY, A CONTINUATION OF A VERY
LONG -- A VERY LONG RECOVERY
THAT WE HAVE HAD SINCE THE GREAT
FINANCIAL CRISIS.
FINANCIAL CRISIS. >> YOU KNOW, THE GOOD NEWS IS,
THOUGH, MIKA, THAT EVEN THOUGH
HE’S IN THE BOTTOM HALF OF THE
CLASS FOR THE LAST TEN
PRESIDENTS, HIS GDP HAS GROWN
MORE SLOWLY THAN FIVE OF -- I
MEAN, YOU LOOK AT IT HERE, HE IS
JUST DOING TERRIBLE
UNFORTUNATELY IN THAT CATEGORY.
HE’S DOING BAD ON JOBS, IF YOU
COMPARE HIM TO BARACK OBAMA.
BARACK OBAMA’S LAST THREE YEARS
EVEN MORE EFFECTIVE THAN THE
FIRST THREE YEARS OF DONALD
TRUMP’S ADMINISTRATION.
TRUMP’S ADMINISTRATION. AT LEAST, YOU KNOW, HE PROMISED
THAT HE WAS GOING TO NOT ONLY
BALANCE THE BUDGET, BUT THAT HE
WAS GOING TO PAY OFF THE FEDERAL
DEBT.
DEBT. AT LEAST HE’S GOT THAT GOING.
>> WELL, FORMER PRESIDENTIAL
CANDIDATE MARK SANFORD HAS AN