If there was a net impact of over 1 point due to accelerated pre-tariff exports (which there was) does that mean that the actual adjusted number (apples to apples) is 3.1?
.@WhiteHouseCEA's Kevin Hassett on 4.1% growth in 2Q: "It's about as positive a report as you can get because it suggests you're gonna have sustained growth."pic.twitter.com/8icCD6c2Un
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It means no such thing. Stop the lying. How do we know it's a lie? Not only because Trump's people are speaking, but because the facts and evidence show otherwise: https://www.bea.gov/newsreleases/national/gdp/2018/gdp2q18_adv.htm …
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Companies started shifting purchases into 2Q to avoid tariffs being imposed. That shifted purchases and economic activity forward. There's no evidence this will be sustained. Meanwhile the TCJA requires sustained 4% growth over 10 years. That's flat out fantasy.
End of conversation
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