Hassett Still Blaming Biden For Trump's Rotten Economy

White House Advisor Discusses Polling Data, Inflation Trends, and Economic Indicators

White House economic advisor Kevin Hassett appeared on Fox News’ The Sunday Briefing to address recent surveys showing low public approval of economic conditions. Host Peter Doocy cited figures indicating that 23 percent of voters rated the economy as excellent or good, 12 percent described their personal finances as improving, and 62 percent viewed grocery prices as a major household concern.

Hassett responded that many surveys include disproportionate numbers of Democratic respondents, which he said skews results. He pointed to the University of Michigan consumer sentiment survey, noting that Democratic participants rated conditions as the worst since the Great Depression while Republican respondents described stronger growth and lower inflation. Hassett cited third-quarter GDP growth projected at 5 percent, a recent jobs report, real income gains, and the largest annual decline in prescription drug prices in 64 years. He also referenced initial unemployment claims at the lowest levels recorded since World War II.

Doocy asked whether Hassett would acknowledge that many people continue to feel prices remain elevated. Hassett replied that cumulative inflation during the prior administration reached approximately 20 percent, producing higher price levels that have persisted even as recent annualized inflation has approached the Federal Reserve’s 2 percent target. He noted that the year-over-year inflation rate peaked at 9.1 percent in June 2022 before declining. Hassett added that he had observed recent price reductions on items such as ground beef at retail outlets.

Bureau of Labor Statistics data confirm that the Consumer Price Index rose by roughly 19–20 percent on a cumulative basis between January 2021 and January 2025. The same series shows the peak 12-month rate of 9.1 percent occurred in mid-2022, after which the rate moderated. Separate Commerce Department figures placed annualized GDP growth in the third quarter of the current year near 5 percent in initial estimates, while Labor Department data showed initial unemployment claims near historic lows.

Hassett also discussed recent Federal Reserve policy actions and administration efforts to reduce regulatory requirements, including changes affecting appliance standards. He stated these steps were intended to lower operating costs for businesses such as trucking. Doocy noted additional market indicators, including record levels on major stock indexes.

The exchange occurred against a backdrop of differing economic records across administrations. The Biden administration took office during the final stages of pandemic-related disruptions that had produced sharp swings in employment and output. Official data show unemployment falling from above 6 percent in early 2021 to around 3.7 percent by late 2023, with cumulative job gains exceeding 15 million positions before the subsequent transition. Inflation rose rapidly in 2021–2022 amid supply-chain constraints and fiscal measures, then eased after 2022. The current administration has reported continued GDP expansion, low initial claims for unemployment insurance, and further reductions in certain regulated costs, while cumulative price levels remain above those recorded at the start of 2021.

Hassett maintained that pocketbook measures—employment stability, income growth, and recent price movements—provide a clearer picture than survey responses. Doocy pressed on whether visible price levels affect daily perceptions regardless of recent inflation trends. The discussion concluded without resolution on that point, with both participants agreeing that drug-price reductions and stock-market performance represented positive developments while differing on the weight to assign to polling results.

Additional government statistics released in recent months include continued expansion in real disposable income and further moderation in core inflation measures excluding food and energy. Federal Reserve projections at the time of the interview placed the policy rate path dependent on incoming data for employment and prices.