But as of 3.15 pm in NY, shortly after Hassett conceded the error and hours after the claim was challenged in news stories, Trump's false tweet about GDP and unemployment remained online. "What magic wand do you have?" he asked.
But the Obama administration also celebrated economic gains, with a 5.1 percent GDP in the second quarter of 2014 and four quarters of growth above the 4.0 percentage rate.
The national unemployment rate was at 3.9 percent in August, according to the Bureau of Labor Statistics. "What I do know is that's the highest in 10 years". 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".
Last month, White House Press Secretary Sarah Huckabee Sanders asserted to reporters that Trump had tripled Obama's eight-year job creation record for black workers in just 18 months, quoting numbers that were not even close to accurate.
Hassett said he suspected someone "added a 0" to the fact as it was "conveyed" to the president.
This wasn't the first time Hassett has weighed in on a presidential tweet.
"When you don't tell the truth, when you just flat-out lie so much, how do you have any credibility, how can we believe that when it's the president himself who's lied thousands of times since he took the oath of office?"
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