- As talk of recession fillsthe hot air here in Washington,

the Trump administration is pushing back

with its own message of confidence.

Speaking to reportersoutside the White House,

the president's chief economicadviser offering assurances.

The tea leaves theadministration is reading

predict a strong future economy.

- Folks are working, they're spending,

and they're saving, which is terrific,

and to me, there's no end in sight.

- [Jennifer] If anyone is at fault,

the president says it's the Fed

for not lowering interest rates.

- I think I could behelped out by the Fed,

but the Fed doesn't likehelping me too much.

- [Jennifer] The administrationis floating solutions,

including more tax cuts.

- We have for a whilebeen looking at something

I call tax cuts 2.0, whichwill be a compilation

of our best thinking onadditional tax relief incentives

for the middle class,for blue collar workers,

small businesses, and so forth.

- [Jennifer] The administrationis in repair mode

after taking two blows this week.

First, the CongressionalBudget Office predicted

the federal deficit willexceed one trillion by 2020.

- Both parties want to play Santa Clause.

They spend too much money.

The most important thing,though, to get the deficit down

is to keep the economy booming,

and, you know, we've had twosolid years of economic growth.

- [Jennifer] Then, theBureau of Labor Statistics

revised its numbers toreveal the economy created

half a million fewer jobsthan originally reported.

Still, Moore says thereal problem isn't jobs,

rather, too few workers.

- You know, the seven anda half million surplus jobs

when there's six million unemployed

means we have a millionand a half more jobs

than even people looking for jobs.

- [Jennifer] Still, the economic news

has Democrats seeking thenomination for president

smelling blood.

On the stump, front runner Joe Biden

blames signs of a slowing economy

on the president's trade war with China.

Democrats know a weak economy

could give them a major edge in 2020.

This as a new AP pollshows strong disapproval

of the president'sperformance across the board.

But the one area people approve of most

is his handling of the economy.

The president is off toFrance for the G7 Summit,

and where the economy is concerned,

he'll encourage his alliesto be more like the US.

- If our friends would adoptsome of the pro-growth policies

that we have adopted, theirgrowth would improve markedly.

- And at the president's urging,

G7 leaders will meet tomorrow morning

to discuss the economy and trade.

Jennifer Wishon, CBN News, Washington.