Trump: ObamaCare is a disaster

Donald Trump sounds off on the South Carolina bill that would make it a crime to implement the Affordable Care Act and general uncertainty surrounding Obama's signature legislation

This is a rush transcript from "On the Record," May 3, 2013. This copy may not be in its final form and may be updated.

GRETA VAN SUSTEREN, FOX NEWS HOST: Almost a year after the Supreme Court upheld most of ObamaCare, the battle over health care showing no sign of letting up, in some instances even heating up after Democratic Senator Max Baucus warned it could be a train wreck and Republican, of course, seizing on that comment. And this week the South Carolina state house approved a bill criminalizing the implementation of ObamaCare in that state. That's, under the South Carolina bill there will be criminal penalties for enforcing the health care law.

Donald Trump joins us. Nice to talk to you, Donald.

DONALD TRUMP, CEO, TRUMP ENTERPRISES: Hello, Greta.

VAN SUSTEREN: Donald, I was reading your tweets, and you talk about health care and it is basically a two-for. Under your latest tweet we'll see record increases in premiums and inferior care in services. And now the state of South Carolina saying any one that enforces it -- it hasn't been signed by the governor, but they want to make it criminal to enforce it. What do you think?

TRUMP: Every business that I know of is having a hard time with Obamacare, the complications of it, people don't understand it. It is written poorly. It's extremely expensive. And every single business that I know of is having problems. And frankly what South Carolina did is amazing because a lot of people are feeling that way. But businesses are having a tremendous problem not only with the costs and the complexity of it, they don't understand what it means.

VAN SUSTEREN: The thing in South Carolina will never -- the federal law, the Supreme Court will obviously trump what South Carolina does. I think it is symbolic -- I mean, I think it is symbolic and not that it will have an impact what South Carolina is doing. In terms of the implementation, most people might think that don't run businesses that ObamaCare is not creating a problem now. A business like yours has got to be sorting through the regulations now, right, trying to figure out what to do?

TRUMP: It is creating a problem now, and I know a lot of businesses are going less than 30 people and they're putting in part-time workers. And I noticed in the reports today there are a lot of part-time workers that came out in the stats that was hearing today on the programs that you have a tremendous number of part-time workers coming out on the statistics.

And frankly, nobody knows what to say. As you know, the government is hiring thousands and thousands of people to explain it to people. Nobody knows what to say. Nobody knows how to implement it. And I have been saying it may just die of its own weight. It's a heavy, heavy program that is extremely complex. There are probably lots of ways out of it, because, again a lot of people are saying they are hearing part-time employees and that way they don't even have ObamaCare.

VAN SUSTEREN: The Senate finance chairman Max Baucus, who was one of the architects and supporters of this used an unfortunate term this past week in describing it as a possible "train wreck." Of course, he is not running again in 2014 and left a little bit of a stink bomb for the Democrats to handle. Why do you think that he used that term? Do you think that was just a slip or do you think he's having a new look at this?

TRUMP: No, I think he was being honest. I mean, he's telling the truth. It's a train wreck. Nobody knows what is going on. And a lot of people were surprised that he came out. He was very much in favor of it. He wanted the law implemented and fought for the law but now sees what is happening.

And frankly, Greta, look, I love the country. I want the country to do well. If they are going to have a law, let it work. I would love to see everything work. It's not working. He came out and he was one of the big proponents, and he came out totally, I mean he used the word "train wreck," and that word being used all over the place now you because actually those words are very accurate.

VAN SUSTEREN: If you could have a beer summit with the president at the White House in the next couple of days or weeks, what would you tell h him?

TRUMP: Well, I would say they have to do something. Whether it is starting all over again, and frankly that is a possibility. A lot of people think that is the only way it is going to work, or simplification. At a minimum you need major simplification.

But there is no question it is hurting businesses. A lot of businesses are being hurt, and a lot of people aren't getting full-time jobs. They are getting part-time jobs because this way you simplify, and you reduce the costs of ObamaCare. And if you look, many, many businesses are coming out with part-time jobs and under 30 people et cetera, et cetera. This is not good for employment.

VAN SUSTEREN: What do you make of the fact there is a tick downward in the month of April in the unemployment rate, although the participation rate did tick up?

TRUMP: Well, the number of -- number one, it's good. Overall it's good. And it has been very, very slow and it has been long in coming. But I really think we have a much better chance without the ObamaCare because a lot of those stats are really just reflecting people that are working but they are working more as a part-time position and that came out very strongly in the numbers today, that there are a lot of part-time jobs. Now, that is being caused by ObamaCare.

VAN SUSTEREN: In terms of investments, you know, are people sitting on money so they are not revving up the economy and making investments or have people begun once again to start putting money back into the economy?

TRUMP: I did something about two years ago that I have really never done much before. I bought a lot of stock. And the reason I bought stock is because the dollar is going to hell. And if the dollar goes to hell you buy stock and you buy hard assets, real estate. I bought Doral Country club and a lot of real estate. Doral is in Miami which is doing well because the south Americans are pouring into Miami. Miami is Boomtown, USA. I did something I have never really done based on the fact we have artificially low interest rates. And based on the fact that the dollar is going to hell, I bought stocks and shockingly they are through the roof.

VAN SUSTEREN: Donald, as always, thank you, sir.

TRUMP: Thank you very much.