Art Laffer to Newsmax: Trump Brings 'Sensible' Policies on Economy

President Donald Trump is putting through "very sensible, good supply side economic policies," especially when it comes to government spending, economist Art Laffer, who served as an adviser to former President Ronald Reagan, tells Newsmax.

"Government spending is a problem," Laffer told Tuesday's "Rob Schmitt Tonight" Tuesday. "Government is important, but not this big of a government isn't. We need to trim it down a lot, cut it down."

But he disagreed with Schmitt, who said the country is "going through the pain of that process."

"I don't think it's a pain," Laffer said. "I don't think it's a pain getting rid of dead workers and people who are unproductive and people who squander the resources. I think those resources belong to me, the taxpayer. And I would much rather see me have [resources] rather than giving it to people who waste it."

But Laffer said he is a "big fan" of Trump's and trusts him to turn the economy around.

"He has had all of this practical experience," Laffer said. "He's run his own companies very successfully.

'I think he was the single best first-term president the U.S. has ever had."

With Trump's education and skills as a negotiator, Laffer added, "I can't think of any individual that I think would be better suited to be president."

Still, Laffer said he is worried about the economy, but Trump is "as adept and as good at negotiating all these things as anyone I've ever seen. I feel very comfortable with him as president."

Laffer also said Tuesday he disagrees with some economists who say Trump's actions are bringing about a much-needed cooling of the economy that is needed to heal it.

"Cooling down the economy, lowering it down, getting it this down does not help anyone, anywhere, at any time," he said. "The faster the economy grows, the lower inflation is. If you have more goods and services available, the price of those goods and services are going to fall down. If you have a bumper crop in apples, the price of apples will fall, not rise.

"So the faster we grow, the better off we are."

Laffer also refused to blame Trump for the current stock market status.

"I don't see why any of these policies that Trump is putting through right now would cause the Dow to drop," he said. "Maybe people are afraid of the tariffs … but that's not cutting out waste, abuse, and fraud. It really is not – and that I just don't see any downside to it whatsoever."

He also understands why people are afraid.

"The Great Depression was caused by the Smoot-Hawley Tariff Act, which caused the crash in the market, which caused the Great Depression, which caused World War II," Laffer said. "But Donald Trump is very, very well-versed in the do's and don'ts of trade. He's a very smart guy. He's been dealing with this forever. He was head of a very large international company, Trump International. And you know, he knows how bad these barriers can be."

Trump is also trying to "bring reciprocity" between countries like Mexico and Canada, "so these guys reduce the barriers to trade against us," he added. "We maybe lower ours a little bit more, and that creates a freer trade environment and world that will cause huge expansion. We'll see.

"But I can't think of anyone I have more trust in than Donald Trump."

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