Donald Trump Urges Republicans to Let US Default on Debt if Democrats Don't Agree to Spending Cuts

newsbtcPublished on 2023-05-12Last updated on 2023-05-12

Abstract

Former U.S. President Donald Trump has urged Republican lawmakers to let the U.S. default on its debt obligations if the Democrats do not agree on “massive” spending cuts. Trump, who is also running for president in 2024, stressed that letting the U.S. default is “better than what we’re doing right now because we’re spending money like drunken sailors.”

Donald Trump Urges Republicans to Let US Default on Debt if Democrats Don't Agree to Spending Cuts

Former U.S. President Donald Trump has urged Republican lawmakers to let the U.S. default on its debt obligations if the Democrats do not agree on “massive” spending cuts. Trump, who is also running for president in 2024, stressed that letting the U.S. default is “better than what we’re doing right now because we’re spending money like drunken sailors.”

Donald Trump’s Advice on U.S. Default

Former President and 2024 Republican presidential candidate Donald Trump has advised Republican lawmakers to let the United States default on its debt obligations if Democrats do not agree to spending cuts.

Trump was asked during a televised CNN Town Hall on Wednesday for his advice to Republicans on the possibility of the U.S. defaulting on its debt obligations. He said:

I say to the Republicans out there — congressmen, senators — if they don’t give you massive cuts, you’re going to have to do a default.

The former U.S. president added: “I don’t believe they’re going to do a default because I think the Democrats will absolutely cave, because you don’t want to have that happen.”

Trump, who announced in November last year that he is running for president again in 2024, stressed:

But, it’s better than what we’re doing right now because we’re spending money like drunken sailors.

When pressed to clarify if he believes that “the U.S. should default if the White House does not agree to the spending cuts,” Trump promptly answered:

Well, you might as well do it now, because you’ll do it later. Because we have to save this country. Our country is dying. Our country is being destroyed by stupid people, by very stupid people.

Trump has issued multiple warnings regarding the U.S. economy and the U.S. dollar in recent months. He claimed last month that the USD is crashing and “will soon no longer be the world standard.” He also warned that “we are very close” to World War III.

U.S. Treasury Secretary Janet Yellen has informed lawmakers that the Treasury Department may not be able to pay all of the government’s bills as early as June 1 “if Congress does not raise or suspend the debt limit before that time.”

Tags in this story
Donald Trump, Donald Trump US default, Donald Trump US dollar, Donald Trump USD, US debt default

What do you think about Donald Trump urging Republican lawmakers to let the U.S. default on its debt obligations if Democrats don’t agree to spending cuts? Let us know in the comments section below.


Kevin Helms
A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.




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