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Tags: jason furman | economy | gdp | jobs | growth | unemployment

Obama Economist: Even Limited Growth Might Reelect Trump

jason furman speaks during the daily briefing in the Brady Briefing Room in 2016
Former White House economic adviser Jason Furman (Mandel Ngan/Getty Images)

By    |   Wednesday, 27 May 2020 06:09 PM EDT

The improvement in the economy between now and Election Day could boost President Donald Trump's chances of regaining the White House, even if the situation is significantly worse than what it was just before the coronavirus pandemic struck, according to former Obama economic adviser Jason Furman.

"The economy went incredibly far down," Furman told Fox News' "America's Newsroom" on Wedndesay. "Over the next six months, it will move itself from very, very bad – which is where it was in April – to very bad or, if we are lucky, just bad towards the end of the year."

Even though Furman is not very optimistic the overall state of the economy will be good by the conclusion of 2020, the start of a bounceback from such a deep hole will still mean a large number of jobs created every month.

He stressed, "there will be two ways to look at it [as the election nears]. President Trump will be saying that we created one or two million jobs last month – that's the most jobs in a month. And, others will point out very correctly – I think arguably more correctly – that we're still . . . 15 million jobs short of where we were before the coronavirus struck."

Furman pointed out, "Financial crises are of long, grinding slow recoveries, [while for] natural disaster, the economy snaps back very quickly. This is a combination of the two."

He also said, in order to properly lay the groundwork for a sustained recovery, "We need to pass aid to states. We need to help people who have been most impacted. We need to stay at it and not assume everything would be fine."

Brian Freeman

Brian Freeman, a Newsmax writer based in Israel, has more than three decades writing and editing about culture and politics for newspapers, online and television.

© 2023 Newsmax. All rights reserved.


Politics
The improvement in the economy between now and Election Day could boost President Donald Trump's chances of regaining the White House, even if the situation is significantly worse than what it was just before the coronavirus pandemic struck, according to former Obama...
jason furman, economy, gdp, jobs, growth, unemployment
282
2020-09-27
Wednesday, 27 May 2020 06:09 PM
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