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.”
It's the kind of logic you'd hear from a 12-year old or a Green Party candidate. Apologies to all preteens who might come by.
Any measures that would reduce the value of the existing
debt, making it cheaper to repurchase, would increase the cost of issuing new
debt. Such a threat also could undermine the stability of global financial
markets.
Yeah, I knew there was something wrong with it.
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