Kevin Hassett
President Donald Trump’s failure to negotiate an end to his war with Iran has led the administration to now absurdly claim the resulting rise in gas prices are a good sign for the economy.
Kevin Hassett, the Trump-appointed director of the National Economic Council, made the claim during an appearance on Fox News Sunday.
“People are spending more on gas, but they’re also spending more on everything else—not just groceries but restaurants and so on. And I think that’s a sign that you would see when people are optimistic about the future,” Hassett said.
In the weeks following Trump’s choice to attack Iran, which has caused the closure of the vital Strait of Hormuz shipping route, gas prices have reached an average of $4.32 per gallon, according to the American Automobile Association. That is significantly more than the $3.14 that a gallon cost at this time last year.
No serious economist would argue that rapidly increasing the cost of a necessity like fuel could be seen as a positive economic indicator, and the Trump administration is aware of this.
Increased fuel costs, along with Trump’s increased tariffs, have caused inflation to rise. According to the Commerce Department, inflation reached 3.8 percent year-over-year in April, the highest rate that has been measured since May 2023.
The recovering economy that Trump inherited from former President Joe Biden is being washed away by Trump’s actions.
On his Truth Social account, Trump fumed on Sunday night that he is receiving criticism for his diplomatic impotence. Trump and his team have continually promised that a “deal” with Iran is imminent, but for weeks, nothing substantial has materialized.
“[D]on’t the Dumocrats, and various seemingly unpatriotic Republicans, understand that it is MUCH tougher for me to properly do my job and negotiate, when political hacks keep negatively ‘chirping,’ at levels never seen before, over and over again, that I should move faster, or move slower, or go to war, or not go to war, or whatever,” Trump wrote.
He concluded: “Just sit back and relax, it will all work out well in the end – It always does!”
Reprinted with permission from Daily Kos
- Fox Anchors' Nuclear Justification For Iran War -- And Its High Costs -- Is Collapsing ›
- Rising Gas Prices Enraged Republicans Under Biden, But Not Any More ›
- Terrified By Iran War's Impact On Gas Prices, Republicans Try Blaming Democrats ›
- Hassett: No 'Storm Clouds' Rising on National Economy | Newsmax.com ›
- US and Iran exchange renewed fire as Trump asks for changes to proposed deal to end hostilities | CNN Politics ›
- White House economic director downplays Americans' economic anxiety amid high gas prices and inflation - ABC News ›
- Kevin Hassett: Oil shipments through Strait of Hormuz to resume in 'a month or two' ›
- Trump’s economic guru doubles down and brags that Americans ‘spending more on everything’ - not just gas | The Independent ›
- Kevin Hassett urges Americans to look at whole picture on prices - POLITICO ›
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