Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Laffer: Don’t Feel Economy is Improving

Details

  • Description

    Former Reagan economic adviser Art Laffer on Sandy’s impact ahead of the election.

  • Duration 4:05
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

To art Laffer.

And the -- former -- advisors been kind enough to sit through mayor Bloomberg's briefing with us and we started to talk to you art for those that -- -- joining us about Friday's.

Economic data this idea about whether the jobs report might be delayed in the Census Bureau hasn't made a decision but to reiterate what you're saying you -- you think they'll come out the report right on -- All I do what I do and I don't think it'll be very good for the president I mean employment growth is barely kept growth with the if the population.

And in fact the only reason the unemployment rate has fallen is because people -- literally left the labor force.

I mean that's why it's fall fall as far as as otherwise -- be up around eleven or 12%.

And you know even those who have jobs a lot of them don't have jobs they -- -- have they've got part time jobs that a full time jobs.

I don't see how this can help the president does Leo said earlier I just don't see how.

But -- Leah expects this to be actually a battered John Leo Hendry you're referring -- expects this -- okay jobs report in terms of where we've -- the last nearly four years but.

I don't know part -- we can debate that another time because we have to -- -- very average runs out.

But I want to stick to right now the president has to focus on.

Being may be more of the president and apparent presidential been being -- candidate clearly but doesn't that help Pam.

This isn't that had been -- it may help them right.

I mean he'll look presidential he's doing a good job -- -- I mean.

You know this is a time when all of us really wanna get together and help but those who were being threatened by the storm it's it's a terrible thing and if you.

Just listen to what Bloomberg said it's just amazing it's terrifying to be honest with the.

-- if you're Mitt Romney -- flashed at the bottom of the screen as we speak right now -- -- -- tough position politically because just does the president.

The V appearances there -- are important for sitting president of course the execution your job -- his job is the president right now court yet for Mitt Romney he's canceled all campaign events.

Bob both for tonight and -- castle -- events for tomorrow.

As well so it's that you did he sees missing out on a few days of campaigning here all week before the election.

And he had to me but that's what happens when you have a storm like this you know things like this do happen.

And that's all present a governor Romney can do is just cancel -- events and hope for the best but I mean -- we really want to make sure we get through this storm.

Safely and and I really laud President Obama for working hard to make sure that we have all the resources available to make people.

Make it through pretty well.

-- -- and if you look at this jobs report on Friday that to go back of that -- and if people already know if their name know or believe that the economy is improving or allow say -- is that why.

Mean we might have very little impact even -- even though it's a few days before the election.

You know I.

I don't think the economy is improving that's -- trying to say is that.

The only improvement -- is that people left the labor force and the employment growth Kagan is just keeping -- pace with the population.

There is no improvement with a lots except everything's got little bit larger and -- -- -- -- the labor force and that's why the unemployment -- down.

Gas prices have fallen dramatically and -- -- still well above three dollars a gallon which is not yet yeah that's true at that lots of this and that's the other of that but.

Gas price I think are higher than where they were when he came and office but.

This economy is not grown like -- -- that this is the single worst recovery.

We've had in the history of the US.

Under Reagan we would have had growth rates here of between seven and 8% real growth on a quarterly basis for several years I mean.

The unemployment rate dropped like a -- participation rates increased that's not what's happening here right these policies don't work and they really just don't you can't.

Tax and economy in the prosperity simply a -- and that's what he's been trying to do.

And it won't work and if he gets reelected I expect the we're gonna have a couple more years of of real tough time.

Thank you art and that's kind of the macro discussion of where the economy stands and what they're talk about the election with the over the next two days also -- a micro discussion of what the impact of the storm missed.

Economically but -- thank you very much for coming on.

We appreciate it thank you very much -- -- just what.

Load More