Steve Forbes on Tuesday predicted a busy Inauguration Day for Donald Trump, saying he believes the president-elect will reverse President Barack Obama's "anti-growth executive orders" and make a push for deregulation.
"One of the things I think the president will do even on Inauguration Day itself is sign executive orders peeling away a lot of Obama's anti-growth executive orders and having a real push for deregulation," Forbes said on Fox News' "America's Newsroom" morning show.
"Remember when Ronald Reagan came in back in 1981, on Day 1 he took off price controls on oil and gas which critics said would lead to a huge increase in prices," Forbes said. "It led to just the opposite. More supply, more reasonable prices and it contributed to the great boom of the 1980s. I think you will see Trump try to do the same thing from Day 1 on the deregulatory side of things."
Forbes pushed back on President Obama, who defended his regulations Monday, saying that removing those regulations would be a mistake.
"And you look at the small businesses, they're getting crushed by these rules and regulations," Forbes said. "Many of them written in language which no one can interpret except a bureaucrat depending on his or her mood that day, and that hurts investment. If you get a push on deregulation, not punishing banks for making loans, I think you will see the credit markets start to revive."