Google's Eric Schmidt: 'The math is that the American economy is doing well'

Despite political discord, the American economy is doing well, Alphabet Executive Chairman Eric Schmidt said Thursday. "I think the math is the American economy is doing well, and the unemployment situation is [going] well, and if you're confused on that, visit Europe," Schmidt said. Schmidt spoke from the DealBook Conference in New York City, hosted by CNBC anchor and New York Times columnist Andrew Ross Sorkin and the editors of the Times. The conference focuses on "playing for the long term" in a business environment that's shackled to quarterly returns and compressed news cycles. After an election cycle that stoked arguments over the shrinking middle class and widening inequality, Schmidt addressed the role that information played in the political process.