The US economy grew faster than expected in the third quarter of the year, according to a delayed report released by the Commerce Department on Tuesday. The report showed that gross domestic product, or GDP, expanded by 4.3% between July and September, far above economists’ expectations of 3.2%.
But while the numbers themselves were very positive, it was Commerce Secretary Howard Lutnick’s interpretation of the data that became online mockery.
‘Americans are getting a 4.3% raise,’ Lutnick claims
Appearing on Fox News’ Hannity, Lutnick reacted to the GDP figures with a bizarre claim that left many economists and social media users stunned. When guest host Kellyanne Conway asked how the growth would affect Americans’ daily lives and finances, Lutnick said, “So just think, the whole world out there in the third quarter, the United Kingdom grew .1. The European Union group, .4, and Japan fell .6%, fell .6%. Donald Trump’s economy grew, the United States of America, the biggest economy in the world, 4.3%.”
He then added, “What that means is that Americans overall – all of us – are going to earn 4.3% more money. We’re making a raise.” He went on to say that more jobs, lower energy costs and falling interest rates were on the way, describing the moment as the beginning of a “golden age.” He even suggested the growth would mean “more money in their pocketbooks” and “a great Christmas” for Americans.
Lutnick: The US economy grew 4.3%. What that means is that Americans overall—all of us—are going to earn 4.3% more money. pic.twitter.com/SIFi99NRBX
— Acyn (@Acyn) December 24, 2025
Online reactions pour in, mocking Lutnick’s math
It didn’t take long for social media users to react to Lutnick’s claim that GDP growth automatically means higher pay for everyone. One user wrote, “#MAGACantMath.”
Another user posted sarcastically, “Wow! Everyone in the US gets a 4.3% raise in their paychecks at the end of this month. That’s what you call winning. Sorry, I meant lying.”
Others spoke about inflation, which continues to eat into household budgets. “The real rate of inflation is at least 4.3% so people are no better off,” one user wrote. Another said, “Good grief. How can people go on TV and flat out make up crap?”
One questioned Lutnick’s grasp of economics altogether, saying it was “reassuring to know that the secretary of commerce has absolutely zero grasp of macroeconomics.”
What the data actually shows about the US economy
According to CNBC, consumer spending rose 3.5% in the third quarter, up from 2.5% in the previous quarter. The report had originally been scheduled for release on October 30, but was delayed due to the government shutdown. One final estimate will still be released later by the Bureau of Economic Analysis.
Despite the solid growth numbers, inflation is still a concern. The personal consumption expenditures price index, the Federal Reserve’s main inflation gauge, rose 2.8. Core inflation, which excludes food and energy, climbed to 2.9%. Both figures were higher than earlier readings and remain well above the Fed’s 2% target. Another inflation measure, the chain-weighted price index, rose 3.8%