Misunderstatement

To describe it as naïve would be a flagrant misunderstatement, but its sole purpose is to get laughs, and anyone who doubts its ability to do this has only to be reminded that for eighteen years now, day in and day out, " Aaron Slick " has averaged better than three productions every day.

Source: wiktionary

To say that the moratorium imposed by the present administration in Washington has had a disasstrous effect on meeting the housing needs of the elderly would be a gross misunderstatement.

Source: wiktionary

The Fed has considerable resources. In some ways, I think this is a gross misunderstatement because the Fed really, literally, has unlimited resources.

Source: wiktionary

This first presents as a grand misunderstatement, but let's not be too quick to judge.

Source: wiktionary