Saturday, 20 July, 2024

A Look at Donald Trump’s Derogatory Narrative of “Bounce Back Jobs”


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Recently Kevin Price, Host of the nationally syndicated Price of Business, visited with economist, Alex Brill.

Brill is a resident fellow at the American Enterprise Institute (AEI), where he specializes in economic policy. He has an impressive career history, having served as the policy director and chief economist of the House Ways and Means Committee, playing a key role in tax legislation. He also worked as an economist at the White House Council of Economic Advisers. 

Donald Trump frequently uses the term “bounce back jobs” as a criticism of Joe Biden’s economic performance, arguing that the current job gains merely reflect a recovery from pandemic losses rather than true job creation. This critique contrasts sharply with traditional policy views on employment.

Key Points:

  • Trump’s Critique:
    • Trump argues that jobs gained under Biden are just a recovery of those lost during the COVID-19 pandemic.
    • He believes reclaiming lost jobs is not equivalent to creating new employment opportunities.
    • This defies historic economic orthodoxy.
  • Contrast with Traditional Policy Views:
    • Policy makers traditionally view any job creation positively, whether recovering lost jobs or creating new ones.
    • The focus has been on overall employment numbers without distinguishing between recovered and new jobs. In other words, jobs are jobs.
    • Trump’s perspective suggests that true economic progress is only reflected in new job creation. That has never been a criteria or framework in economic history.

Trump’s use of “bounce back jobs” introduces a critical lens, and arguably an inaccurate one, challenging long-held views on employment and highlighting the importance of new job creation in measuring economic success.

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