Sent: Wednesday, June 19, 2019 6:02 PM
Subject: In-town pool report #8 - full quotes
Full quotes from the Oval Office ceremony for those want it.
POTUS called Laffer "father of supply-side economics"
"You developed a brilliant theory, shaped unprecedented economic reforms and helped turn a severe recession into a remarkable boom. You proved that the most powerful way to grow the economy and raise government revenue was not to increase rates, but to adopt strong incentives that unleash the power of human freedom to innovate, create jobs and deliver greater opportunity to all Americans, and he's proved it over and over again."
"Remember in 1974 alone, 2 million Americans joined the unemployment and inflation, it was 11 percent. Right now we have inflation at almost nothing."
"Academics called his theory insanity, totally wacky and completely off the wall. With optimism, confidence and exceptional intellect, Art would go on to prove them all wrong on a number of occasions."
"In 1978, California Gov. Jerry Brown asked him to help implement Proposition 13, which the people had overwhelmingly enacted to drastically reduce the state property tax. (I think they could use it now out there, by the way.) The results were so successful that job creation soon grew at twice the nationwide rate."
"The Reagan economy soared, granting sustained economic growth, shrinking poverty expanding incomes and dramatically increasing federal revenue. Sounds very familiar. Sounds very, very familiar. Actually our economy has never, ever been stronger than it is today."
"To get the ball over the goal line...We have President Kennedy, President Reagan, Prime Minister Margaret Thatcher, and, of course, you, Mr. President, Donald Trump, to really make it all happen."
Chief Political & White House Reporter
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