'Trumponomics' author blames Obama for Great Recession, mocks student loan forgiveness plans

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.

What an idiot. The great recession was caused by Obama being elected, not junk mortgages. These are the idiots our politicians look up to. What a joke.

Lagger has dementia and bet he forgot Iran/Contra in Nicaragua. We’re paying for this now, as thousands flee Nicaragua.

I guess he was on Mars, when the major banks collapsed at the end of the Bush administration, causing the loss of millions of jobs. Someone wake up RipVanWinkle, please. And as an aside W and Condi gave us 9/11, ignoring memos, as happened in SriLanka.

How can you be a serious economist if you rewrite history? The Great Recession started under Bush. Obama enherited a blody mess.

Laffer may or may not be a great economist but he is a lousy historian. I'm sure that Obama would be amazed at his powers to start a recession before he was elected president.

Hahaha they have forgotten G Bushe's and GOP tickle down economic policies or what Obama got from them and where he brought it so Trump can brag for his economy.

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