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we added almost twice as many jobs as people were predicting, but they were quality jobs. Again, compare and contrast Joe Biden's jobs numbers. Most of Joe Biden's jobs that he added were government jobs and part-time jobs. In this jobs report, a lot of these are construction jobs. They're full-time jobs. They're not government jobs. This is the tip of the iceberg. And I think at the end of the day, that's part of the American dream, right, is to be able to have a job that you can support your family and maybe be able to afford to buy your first house and buy your first pickup truck and maybe even your first bass boat. So I think that we're going in the right direction. It's a great jobs report. It's a good first number. This, I told my friends yesterday, this is complicated, but before, trust President Trump, he's done this before, we had a great economy. I think that this is the start of a golden era.

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All right, we're down to economists Art Laffer joins us now and sir, it's good to have you back on. Thank you very much Rob. There's so much uncertainty right now that there's a lot of nerves over this and I look at this and I feel like I'm watching the president take a really big political risk to do I think some of the things that really need to happen in this country for the betterment of our general economy. Is that how you see it? Well that's very nice that you feel that way in a way. The way I see it really very seriously is as you probably know I'm a big fan of Donald Trump's. You know he has had all of this practical experience. He's run his own companies very successfully but wealthy man. He ran the country in the first term and as I've said in economics now that I think is single best first term president the U.S. has ever had. If you look at him from the standpoint of education he's as well educated as any president. I mean literally if you look at presidents he's really very well educated. And if you look at him as a negotiator he's a great negotiator. He's all of these skills together. I can't think of any individual that I think would be better suited to be president of the United States the policy maker in place than Donald Trump today. Now does that mean I'm not worried about the economy. Of course it doesn't mean that. But I think he is as adept and as good at negotiating all of these things as anyone I've ever seen. And frankly I feel very comfortable with him as president. I wish the market were up 20 points not down. I do. But you know I don't know what to say about that. Yeah. Well let's just let's just talk about that because there's a lot of people especially in this city that I live in that believe that this market has been overcooked for a very long time and everything's been very inflated and the market's been inflated. Our prices have been inflated. And I think a lot of people out there thought that this needed to cool down that everything kind of needed to cool down. I spoke to a guy today who's a brilliant guy he's a Trump voter and he kind of believes that the White House right now is just kind of forcing us to take the medicine that we've needed to take. They want to kind of cool everything down get the 10 year down get mortgage rates down and kind of calm everything down early on before it becomes a political liability near the midterms and then get inflation down and then set them set the economy off the right way. Do you think that's a possibility. Well it's a possibility but I don't think you're right at all in that Rob if I say cooling down the economy lowering it down getting at this down does not help anyone anywhere at any time. 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 and apples the price of apples will fall not rise. So the faster we grow the better off we are. I don't think there's anything to taping the economy down that makes any sense whatsoever. But what I do think is that Donald Trump is putting it through a very sensible good supply side economic policies. Government spending is a problem especially wasted fraudulent. I don't know what all the work additives they use to it. You know there's a lot of importance for government government is important but not this big of government isn't it. We need to trim it down a lot cut it down and we're going through the pain of that process. I don't think it's a pain. I don't think it's a pain getting rid of dud 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 the pain giving it to people who wasted the pain I guess would be what we're seeing right now. You know the Dow's down what maybe 10 percent. I don't think this is what's caused the Dow to be down. My view I don't see why any of these policies that Trump is putting through right now would cause the Dow to drop. Maybe people are afraid of the tariffs. That may be true and that that could well be true but that's not cutting out waste abuse and fraud. It really is not and that I just don't see any downside to whatsoever. Tariffs people are scared and I understand why they're scared. You know the Great Depression was caused by the Smoot-Holly tariff which caused the crash in the market which caused the Great Depression which caused World War Two. Those are serious events but Donald Trump is very very well versed in the do's and don'ts and 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 could be. I believe and this is me if you want to know what he believes give him a call. But I believe he is trying to bring reciprocity so these guys reduce the barriers to trade against us. 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. We'll see. I can't think of anyone I have more trust in than Donald Trump. OK. All right. So this unease right now you think will be over soon is your estimation? I hope so. I'm really good at forecasting the past Rob. I really am good at that. I'm a little less through. But I think that's true and by the way don't be such a stranger ask me on your show more often. I love your show. Well I love having you on and we appreciate you coming on sir. You're one of my favorites. Thank you. Very good.

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All I know is we're going to take in hundreds of billions of dollars in tariffs and we're going to become so rich, you're not going to know where to spend all that money, I'm telling you, you just watch. We're going to have jobs, we're going to have open factories, it's going to be great.

Transcribed automatically. Expect errors in names and numbers.