This is a rush transcript from "On the Record," July 21, 2011. This copy may not be in its final form and may be updated.
GRETA VAN SUSTEREN, FOX NEWS HOST: There's absolutely no doubt about it, Americans are suffering. What is happening in our country to many is extremely painful. We need jobs. And there is, of course, more dismal news today. Jobless claims went up again. So what is the problem with Washington? And what can we did to get out of this deep rut? Earlier today, we asked Donald Trump what he would do.
VAN SUSTEREN: Donald, nice to have you join us.
VAN SUSTEREN: Donald, grim news today, jobless claims at 418,000. That's bad news. Steve Wynn, who says he's a Democrat but has contributed to Republicans and to Democrats -- he says that President Obama is a wet blanket on the economy and he's very disappointed in President Obama's work on the economy. But on the other hand, his Vegas operations were up 23 percent since last year, so things are going pretty well for him. Can you put this together for me?
TRUMP: Well, Steve is a very good friend of mine, a great guy. And frankly, I just left his wedding not so long ago. He just got married and had a beautiful wedding. And he truly knows what he's talking about. He operates good properties all over. But the fact is, he's very, very against this administration, and for good reason.
VAN SUSTEREN: Why? When you went to the wedding, did the two of you talk about President Obama and the way he is steering the economy?
TRUMP: We speak all the time. He's not a fan. He doesn't like what he's going on. He sees what is happening all over the world and how well the world is doing in so many places. If you look at different countries, some are doing phenomenally, and some are doing so well because of us because of whether it is manufacturing our products or taking our jobs with outsourcing.
So many different things are happening. I never hear about it from Obama. I never hear about it from anybody. I don't hear about it from the Republicans either. You watch the Republican debates and they don't talk about what is going on with the rest of the world.
But Steve is very down on the administration. I've known that for a long time there. And there are many other great businessmen likewise that are down on the administration.
VAN SUSTEREN: The economy can sometimes be difficult to redirect. So many Americans are suffering, unbelievably so. With 418,000 jobless claims this week, is there any -- if you were president, anything that you could do right new that would have a dramatic effect?
TRUMP: What I would do right now is stop the many countries that are abusing this country, whether it's through their manipulation of currency or lots of other things. I would stop that immediately.
I would immediately get on the phone and talking with the OPEC folks who are absolutely ripping us because, despite the bad economy, fuel prices never come down. As I've been telling you for three years, you and others, if oil isn't coming down substantially below $100, like $40, $30, $20, which is what it should be, not these artificially inflated prices because of what they do surrounding a table in OPEC, this country can never be great again.
We are using oil from outside sources. And by the way, if we allowed coal and if we allowed things to happen in our country, we wouldn't need outside. You look at our natural gas, we have more than anybody. We don't create the incentive for people to get it. And environmentally it becomes almost impossible. The environmentalists have stopped it.
So if oil is at $100 and we are forced to import oil at $100 or more, we can never be great again. We have to create our own energy, and we have so much of it. Between coal and natural gas and nuclear people are starting to get away from, and I can understand. If you look even Germany. By the way, nobody is running better than Germany right now, and they are sort of turning off nuclear right now.
But if you look at natural gas, coal and so many other things, we don't need outside sources. OPEC is ripping us. Frankly, they are the number one abuser and we have to stop that. That's something that could be stopped quickly. They wouldn't even be there if it weren't for us.
VAN SUSTEREN: So I did research on you. I follow you all the time because I know you were toying with the idea of running for president, then you said no, then maybe run as an independent. Now I read you say Representative Bachmann is very underrated. So I'm curious with all your level of growing frustration, are you leaning towards endorsing or supporting Representative Bachmann? Or maybe I will run as an independent?
TRUMP: I'm going to see who going to the Republican nominee. I'm going to be looking at the economy. If the economy continues to do badly, which I think it will, because the administration does not know what they are doing. If the economy continues to do badly, and if the Republicans pick somebody that I think is the wrong person and isn't going to win, I would seriously consider running as an independent. The reason I have to do it that way is because as you know what I'm doing doesn't allow me to run sooner than May.
VAN SUSTEREN: President Obama in the last six months, does he appear stronger, does it appear the Republicans are getting to him? What is the status report?
TRUMP: I think the status report is that the Republicans are folding. The Republicans are not doing the job they should be doing. They allowed him to come back during the lame duck session in December, as you remember. And I said to people, he rose like the phoenix. It was incredible. They allowed him to come back.
I think they are not doing a good job now. They have all the cards if you look at the polls they are getting beaten more badly than Obama. And they have all of the chips. They have all of the cards. The debt limit, so many things they have right now.
One thing, he has to get rid of Obamacare. You have to get rid of Obamacare or the country is not coming back. It is a disaster. As I said, you have to stop. Whether it is OPEC, China, or others, you have to stop all of these countries that are out there that are absolutely beating us and taking advantage of us and making a tremendous windfall profit, if you want to use that word, on us. You have to stop the abusers. There's so many abusers.
They negotiate with us. They negotiate with our representatives. And they tell me, they say, Donald, may I ask you a question? Are your leaders stupid? These are people that make deals with this country. They say are your leaders stupid? Look at Colombia, they make $4 billion dollars, a relatively small trade pact with us, $4 billion last year, Colombia.
So we have to get really smart people. We have to use our best people, our smartest, to negotiate because the people that are doing it right now are leading us to oblivion.
VAN SUSTEREN: Donald, thank you. Congratulations on your being grandfather again. Tell your daughter I said hello and congratulations to her and her husband.
TRUMP: Thank you very much, Greta.