From The New York Times (May 6):
After assuring Americans he is not running for president “to make things unstable for the country,” the presumptive Republican nominee, Donald J. Trump, suggested that he might reduce the national debt by persuading creditors to accept something less than full payment.
Asked on Thursday whether the United States needed to pay its debts in full, or whether he could negotiate a partial repayment, Mr. Trump told the cable network CNBC, “I would borrow, knowing that if the economy crashed, you could make a deal.”
He added, “And if the economy was good, it was good. So, therefore, you can’t lose.”
Such remarks by a major presidential candidate have no modern precedent. The United States government is able to borrow money at very low interest rates because Treasury securities are regarded as a safe investment, and any cracks in investor confidence have a long history of costing American taxpayers a lot of money. [read more]
Wow! Donald Trump really has confidence in his negotiating ability. We’ll see. Actually, according to FEE.org, Trump is not the first to threaten default on the debt. The first was Obama.
It’s actually better for the powers-to-be have displine and stop spending amd make cuts in gov’t programs than to default on the debt. Donald Trump hasn’t suggested any gov’t program to eliminate or to cut. Ted Cruz on the other hand suggested five programs. Maybe Trump should look at that list programs to cut or to eliminate. He wouldn’t have to choose all five but say two to three would be a good start. I’m sure Ted Cruz wouldn’t mind.
To be fair, Mr. Trump said he like the “penny plan” when Sean Hannity suggested this plan.
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