Fmr Reagan Economist Blasts Unemployment Spike As ‘Bad Policies’ Result, Argues Trump’s Econ Plan Could Revive Growth

Former Reagan economist Art Laffer said Monday on Fox Business that the rise in unemployment rate is due to “bad policies,” highlighting how former President Donald Trump’s economic plan could bring back growth.

Federal Reserve Chairman Jerome Powell stated last week following the Feds announcement to lower its federal funds rate by 0.50% that one of the factors contributing to the rising unemployment rate is the “influx across the borders.” While on “Kudlow,” Laffer pushed back against Powell’s opinion, highlighting the lack of employment growth after Fox host Larry Kudlow pressed him on whether illegal immigration played a role in rising rates.

“Not really, he’s logically inconsistent, Larry. I mean, if unemployment went up because of illegal immigrants coming in, wouldn’t employment have gone up as well because they’ve come in — some of them get jobs, some of them don’t in the labor force, but when you look at employment growth, it’s been declining dramatically, Larry, and that’s really the problem,” Laffer said.

“The unemployment rate — and Trump is completely right, by the way, in this. The unemployment rate increases is because of bad policies not because of illegal immigrants,” Laffer continued. “Their tax policies, their spending policies, have led to a decline in the rate of growth of the economy and lessened employment. And that’s really a serious problem.”

Laffer continued to note how Trump’s economic policies like “no tax on tips” and removing taxes