• With: Donald Trump

    This is a rush transcript from "On the Record," April 5, 2013. This copy may not be in its final form and may be updated.

    GRETA VAN SUSTEREN, FOX NEWS HOST: Tonight, strong winter, weak spring. No, this is not your local weather report. This is your economy.


    RUSH LIMBAUGH, RADIO HOST: We are living in a dying country.

    BILL HEMMER, FOX NEWS ANCHOR: There is a dismal new report about the state of jobs in America. Employers adding only 88,000 jobs in the month of March. That's the fewest number we have seen in nine months.

    UNIDENTIFIED MALE: Definitely not a good report.

    LIMBAUGH: The number of people in this country who are not working is shameful.

    STUART VARNEY, FOX NEWS ANCHOR: We've got 132 million jobs in this country and a growing population. You got to do better than 88,000 new jobs.

    JAY CARNEY, WHITE HOUSE PRESS SECRETARY: We are disappointed they are not the better.

    LIMBAUGH: Ninety million Americans are no longer in the workforce, 90 million.

    CARNEY: The president is not ever going to be satisfied until everybody who's looking for a job can get a job.

    UNIDENTIFIED MALE: We overshot. It is a punch to the gut.

    UNIDENTIFIED MALE: I'm calling it the dropout nation. We see it in a lot of areas with the jobs report.

    UNIDENTIFIED MALE: You don't want to make too much of any one month, but it's not a good sign.

    LIMBAUGH: I think it's official, we have a dying country.


    VAN SUSTEREN: And the man famous for both hiring and firing, Donald Trump joins us.

    Nice to see you, Donald.


    VAN SUSTEREN: Donald, those numbers, 88,000 jobs added in the month of March are ghastly. Who is causing this? Who is standing in the way? What is the problem and what should we do?

    TRUMP: Well, they are shocking numbers and a lot of people are just absolutely -- they can't even believe it. I was watching this morning [and] some great economists, if there is such a thing as a great economist, and they just could not believe the numbers, they are so bad.

    So, Rush or somebody was saying dying country, and to a certain extent, we do have a dying country. Our business is being taken away by China and others and we just don't have what we used to have. We lost our mojo as a country.

    VAN SUSTEREN: All right. Well, we lost our mojo. Well, we even got Austan Goolsbee who used to work to the president's economic adviser, calling this a punch to the gut, the numbers today.

    And you got Vice President Biden who apparently has a different view of it. He is more optimistic. He says the economy is now adding private sector jobs every month -- disappointing this month, but they nonetheless added jobs. So, he is putting a positive spin on this and nobody else is. Everyone else is absolutely freaked with these numbers.

    TRUMP: Well, they've got to put a positive spin. They have no choice but to do that. But we really are a country that is in tremendous trouble.

    I have people working for me at a lower level saying that, you know, Mr. Trump, we lost $45 this week. And I said, $45 out of what? They get paid about $350 and $400 a week. And they came up to me and they said, we didn't know the tax increases were going to affect us. We heard it was people over $250,000 and people making a lot of money. But, actually, everybody has been very hurt by really if you add it up, it's Obamacare.

    VAN SUSTEREN: Well, if you look at the numbers, we added 88,000 in the month of March. The unemployment level went down to 7.6, which means, you know, the real crime here of several crimes here, economic crimes is the fact that we've managed to discourage so many people out of the job market, we've so made their lives miserable that they've given up. So they aren't even counted, hence the number goes done.

    So, we really put this incredible depressing film over the economic job market.

    TRUMP: Well, that is the big fallacy. People give up looking for a job and they therefore stop and we don't count them in the numbers and we have this report that the numbers went down. The numbers haven't gone down. The real number is probably 17 percent or 18 percent if you really look at it.

    The country is in trouble and we lost our incentives. We don't have the incentive like we used to have.

    Other countries that are starting at a different level, all of a sudden, you know, they picked up our old formula. We've lost our old formula.

    Also, you look at food stamps, you look at the different kinds of welfare programs going on. It's really unbelievable what's happened together country and we can't afford it as a country. And we have to start making things again because if we don't make things again, we are just going to fail.

    VAN SUSTEREN: Well, just think when you talk about unemployment numbers, you are talking about the people who really want jobs and if you look at the numbers and you break them down, demographics, African-Americans, the unemployment levels of those actually looking for jobs, 13.3 percent. Teenagers from the ages of 16 and 19, the ones who really want jobs and are out there hunting, 34 percent. It says 24 percent up there but the different number I have is much higher.

    You know, it's astounding whether it's 24 percent or 34 percent is totally unacceptable. And yet, there's no -- there's no -- there's no bright light ahead.

    TRUMP: Well, this is no bright. And you real le said something interesting because the African Americans have been just decimated by what's going on with the economy, and you would have thought it maybe would have been the other way around. They have been absolutely decimated and it's very sad.

    Young people coming out of college, young people without education, without the big college education, they are getting just creamed. So, we have to get going as a country or we are really going to have problems. You know, we can solve all of our problems if we can get the economy going, whether it's Social Security or Medicare or Medicaid.

    I mean, the big thing is to get the economy strong and robust and we can take care of things. Right now, we cannot take care of our people that need it. No matter what you do, no matter what you say, it is just not there. And I said it before, you know, the mojo of this country is gone.

    VAN SUSTEREN: Who is the person who has the job, is it the head of, you know, is it the speaker, is it the House majority, the president, business leaders, I mean, who really has sort of his finger on the button that could change all this stuff or is there no single person?