Eric is a commentator on Fax News. He dishes out stuff that is geared to be pro-Trump, and pro-republican. I am not criticizing him here for that. But the other day, Eric decided that he would use first-quarter economic data to show how much better Donald Trump is doing than Barrack Obama did in his first quarter as president.
Errr … there is, of course, a not so small problem here. Improving macro.economic performance is not like turning on a light switch. Current data reflect prior trends. So neither Trump nor Obama can take credit for economic results that happened during their first couple of months in the White House. Sorry Eric! That data is simply a benchmark for what will happen in the upcoming quarters when economic policies begin to take effect.
As BI reports, this data actually shows something that Eric did not want to show. It shows what an absolute disaster Obama inherited from the Bush presidency. It was, as you may recall, post-2008. So of course, first quarter Obama data looked bad. Those were terrible times — that Obama saw us through, so that Trump could have much better data now.
This is pretty basic stuff. You wonder if a person like Eric who distorts this on national TV should somehow be sanctioned for pulling down the national IQ on economic matters.
Congrats Eric! You are our blockhead of the week!