Batshittery Economy

Trump Wants to Run the U.S. Economy Like His Businesses, Meaning Bankruptcy

Donald Trump Presidential Announcement
JM Ashby
Written by JM Ashby

The national debt is not an immediate concern or an existential threat to the well-being of the nation, but we may need to take drastic measures to reduce it according to Republican presidential nominee Donald Trump.

Trump was asked how he would deal with our national debt and he actually said he would let the economy crash if it came to it.

Asked 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.”

say-what

First, a caveat: Trump is correct that there's currently no good reason to stop or reduce government spending. Borrowing costs are at nearly all-time lows. He knows at least that much which is more than you can say for most Republicans. We should be spending a lot more than we currently are, but Republicans in Congress disagree.

With that said, the idea that you could let the economy crash and then renegotiate sovereign debt is flipping ridiculous. Donald Trump has gone through that process multiple times in his private business ventures, but that is not how any of this works.

Trump's ignorance may not be quite as alarming as it is if not for the fact that, in recent years, we have literally come within hours of defauting on national debt payments because Republicans in Congress don't believe in paying for things we've already purchased.

Republican presidential nominee Donald Trump also doesn't believe in paying for things.

Holy shit, the "fiscally conservative" party is now run by a gun who says we should borrow money until the economy crashes and then refuse to pay it back.

  • muselet

    Josh Marshall wrote a piece today blasting Donald Trump’s irresponsible suggestion that the US simply declare bankruptcy and walk away, concluding:

    To be clear, this will never happen. But the fact that Trump is proposing it shows that when it comes to macro-economics and global economics Trump is a huge ignoramus who shouldn’t be allowed anywhere near the Treasury. It’s amazing suggestion. Not just stupid but someone who simply knows nothing about how the economy works.

    That’s actually one of the milder paragraphs, incidentally.

    Trump must never be elected to any office, anywhere.

    –alopecia

  • Nefercat

    And they have the gall to point fiscal fingers at the Democrats.

  • gescove

    Un.Effing.Believable. May I present your presumptive Republican nominee for President.

  • Badgerite

    Oh Jesus. The United States of America isn’t a casino business. Just shoot me.