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"I suspect that the 25m jobs destroyed were high quality, Reagan-era jobs and the 40m jobs created were those wonderful Clintonite positions like midnight basketball counselors and paid Americore "volunteers" (or whatever that bogus program was called). Although, I do think a significant number of the new positions may indeed have been for lawyers, most of whom are now being retained by the White House."

I suspect that neither Reagan nor Clinton created any of the jobs in our economy. They were created by entrepreneurs and other sorts who were willing to work hard and take on risk to start or expand a business. There is at present a shortage of MBAs and companies are going at it hard to get them right out of college, giving signing bonuses among other things. College graduates are in huge demand in many skilled occupations. I suspect that many of the job losses were in things like textile mills and manufacturing facilities while many of the new ones are in high skilled positions. Some of the displaced manufacturing workers may not have the higher education needed for these new positions forcing them into lower paying service positions. So yes some good jobs were lost and replaced with lower paying ones, but there are great new job openings paying good money out there.
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