Jay Carney, White House press secretary under Barack Obama, took to Twitter to paint his former boss in a friendlier light than current President Donald Trump.
Trump often uses stock market gains to tout the success of his presidency.
However, the stock market suffered one of its biggest losses in history on Monday, dipping almost 1,600 points.
Carney took the opportunity to criticize Trump’s use of stock market numbers and said:
Good time to recall that in the previous administration, we NEVER boasted about the stock market — even though the Dow more than doubled on Obama’s watch — because we knew two things: 1) the stock market is not the economy; and 2) if you claim the rise, you own the fall.
But, when social media users pointed out that Obama made similar claims in 2011:
Well, first of all, if you’re talking about the movements of the U.S. stock market, the stock market was down when I first took office and the first few months I was in office about 3,000 points lower than it is now.
Carney tried to clarify his statement:
While @BarackObama and others would on occasion mention the stock market’s revival as part of a broad observation about America’s recovery from the Great Recession – esp during the 2012 re-elect – we didn’t boast about daily or weekly spikes, for the aforementioned reasons.
After that clarification, he again had to issue another social media post to clear up the discrepancies in his second post:
Per my last tweet, should have said “only after multiple years of market, jobs and GDP growth” – and not as a boast in year one on daily spikes. Just politically unwise. By the time of this citation, Obama had been president 5+ years and Dow had doubled.