Reagan Economist Says Trump Economy Is 'Best Economy Ever'

An economist for the late former President Ronald Reagan has said that the economy of President Donald Trump is even greater than Reagan’s.

In fact, Art Laffer told CNN anchor Fredricka Whitfield on Saturday that the Trump economy is the greatest in the history of the United States.
>> So wonderful to be a messenger of good news. I mean, all these other stories, this is a wonderful, bright shining light. It’s lovely.

“Good job growth, good GDP growth, good growth in areas that have been traditionally very underemployed, the poor, the minority, th disenfranchised , are gaining a lot and getting the unemployment rates down to normal.

“Good levels. It’s all the benefits that come from economic growth come through everything in the economy. They come into all factors of life. It’s just lovely,” he said.

“It’s all supply-side economics. Economists had said this wouldn’t work that it doesn’t work, it never worked with Reagan, and of course it’s working beautifully with Trump. He’s done a wonderful job with the economy,” he said.

“And then they are skeptics who say the unemployment numbers don’t necessarily represent the people who have stopped working,” Whitfield said.

“That’s true. We still have a good way to go on the participation rate. People have dropped out of the labor force, and they should be coming back, you know, with higher wages, they’ll be attracted out of sitting there at home.

“That’s what’s really so wonderful. That’s from the high at the end of Bill Clinton. Bill Clinton did a great job as president and a phenomenal economy during his administration, we can get those average hours, we can increase that as well.

Is the economy the greatest in history?

“That’s part-time/full-time ratio. Product activity was 2.3%, which is good, but under Clinton, it was 3.4%, I believe. So we have room to go there, I don’t think this is a moment in history.

“I think this is a long period in history that we’ll have really good economy as long as the policies don’t change,” he said.

“President Trump says he does plan to run in his reelection campaign on the economy, and the recent CNN poll show most Americans approved of his handling of the economy, but as we have seen, the president tends to talk more about immigration, the Russian investigation still being under his skin and other divisive, less popular — so is he missing out on the opportunity?” Whitfield said.

“I’m an economist, and that’s really all I ever talk about. This is the best economy ever. And when James Carville said, ‘it’s the economy stupid,’ that’s what does it all.

“When you look at this, it’s really true. That’s what propelled Bill Clinton, Jack Kennedy and Ronald Reagan. In ’84, Fred, we won the election in ’84 only 49 to 1.

“Kennedy did such a great job. Bill Clinton won reelection under the pallor of investigation, he won because the economy is great.

“I think the same thing is true for President Trump. He’s done a great job on regulations, taxes, and I think he’s doing it on trade.

“He’s done a great job all the way across the board, and if it keeps going, I don’t see how people won’t like it and want to stay with it,” he said.

“So let me ask you about potential red flags. The deficit continues to rise expected to top more than $1 trillion alone. I know you are heralding the tax cuts, but that deficit is sizable,” Whitfield said.

“Yeah, but it’s not the tax cuts that did the deficit. If I may be very serious with you, the deficits are coming down because of extra growth. That is exactly what’s happening because of the tax cuts.

“The tax cuts led to the extra growth, which these people were forecasts 1.5 to 2% growth. That adds a huge on amount you now, that’s a lot of money, those people pay taxes, if you look at state and local — you look at the U.S. The whole federal government, we’re getting revenues pouring in their really nice, and shortly I think it will pay for itself,” he said.

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