With the unemployment rate at 9.2%, a contentious budget battle underway in Washington and small businesses- the very backbone of the U.S. economy- burdened by an ever growing list of government regulation, many might wonder what would Ronald Reagan would do today.
Well Arthur Laffer the famed economist who served as economic adviser under Reagan, tells me the Gipper would go after burdensome regulations to stimulate the economy, starting with President Barack Obama’s health care plan.
Laffer also says Americans should applaud Obama’s life story but reject his policies.
“He would repeal Obamacare. Obamacare makes no sense at all frankly. Remove Dodd-Frank, bring spending down and minimize government regulation”, Laffer told me in an interview.
“Obama is an example of an American success story but he is wrong on every issue. He is a terrific person but a very poor President”, he told me.
It’s that record in office that makes Obama a vulnerable incumbent in next year’s election, the former Reagan adviser added.
“Every election in my view is a referendum on the incumbent. I think Obama won in ’08 because people were fatigued over the war and all that and Bush quite frankly was not a very good President. I think Reagan won because Carter was so bad. I believe Obama faces a very steep uphill fight in 2012 regardless of the opposition.”
Laffer said he believes that if “people have good, high paying jobs then all the social issue differences find a way of working themselves out.”
You can listen to his candid remarks on these and other issues in the You Tube video above.
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