Former Reagan economist and 'Trumponomics' author Arthur Laffer ridiculed Americans with student loan debt and blamed the 2007 Great Recession on Barack Obama, who didn't begin his presidential term until January 2009.
Former Reagan administration economist Arthur Laffer ridiculed Americans with student loan debt and blamed the 2007 Great Recession on Barack Obama, who didn't begin his presidential term until January 2009.
"In March of 2020 I'm really going to look at the political world very carefully," Laffer said. "Because if you'll remember, coming into the election in 2008, when Obama started rising in the polls, and doing well in the polls, the stock market crashed, the stock market tells you what will be and not what has been. And the stock market looks forward -- If they see an Obama coming into the office they'll crash and that's what led to the Great Recession.
Perhaps speaking to Fox News' average viewer age of 65-66 years old, Laffer praised Donald Trump's recent tax bill and monetary policy that has made"retirees very happy." Despite Laffer's claim, Warren has previously said she switched from being a conservative to a liberal in the mid-1990s after watching banks destroy families through bankruptcy and other greed-driven tactics.
"Yea, my dad, mom and dad, I'm sorry. I didn't even have to pay them back either," Laffer replied with a chuckle, before agreeing he'd been financially planning since age 17. "But back then it was much cheaper. It was a lot, lot cheaper." Arthur Laffer and Fox News co-anchor Bill Hemmer mocked Warren's student debt forgiveness plan and compared it to Oprah Winfrey famously offering her audience members free cars.
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