The Oscar-nominated actor, who was fired on the latest episode of Celebrity Apprentice, was questioned by Access Hollywood Live host Billy Bush as to whether he believes Trump's policies could ail the US economic woes.
"Yes, I ensure you that will happen," Busey replied. "He has an awareness, he made great marks in school [and] he's a good man."
He continued: "[Trump] knows what the country needs in order to turn the dump over from where we are now... It seems that [the Obama administration] has no sensibility about what to do that's good for the country."
After Bush joked that Busey should consider signing on as Trump's running mate, the star replied: "Billy, I like the way you're talking!"
Trump has previously declared that he'll make his final decision on whether to pursue the presidency "prior to June".
If he does choose to challenge Obama for the US presidency, Trump will not be able to count on votes from Celebrity Apprentice contestants Star Jones and Dionne Warwick, who both recently claimed that they will not support his political bid.
The Celebrity Apprentice airs Sundays at 9pm ET/8pm CT on NBC.
> Gary Busey son in hospital with "childhood illness"
Watch Gary Busey discuss Donald Trump's possible presidential run below: