Donald Trump Urges Republicans to Let US Go into Debt Default If Democrats Don’t Agree to Spending Cuts – Economics Bitcoin News

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Former US President Donald Trump has urged Republican lawmakers to let the US default on its debt obligations if Democrats do not agree to massive spending cuts. Trump, who is also running for president in 2024, emphasized that letting the US default would be better than doing it now because they are spending money like drunken sailors.

Donald Trump Advice on US 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 in a televised CNN Town Hall on Wednesday for his advice to Republicans on the possibility of the US defaulting on its debt obligations. He said:

I’m telling the Republicans out there congressmen, senators if they’re not going to give you massive cuts, you’ve got to default.

The former US president added: I don’t believe they will do a default because I think the Democrats will absolutely cave, because you don’t want that to happen.

Trump, who announced in November last year that he would run for president again in 2024, emphasized:

But, better than what is done now because they spend money like drunken sailors.

When pressed to clarify whether he believed “the US should default if the White House does not agree to spending cuts,” Trump quickly responded:

Well, you might as well do it now, because you will 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 numerous warnings about the US economy and the US dollar in recent months. He said last month that the USD was falling and “will soon cease to be the world standard.” He also warned that “we are very close” to World War III.

US Treasury Secretary Janet Yellen informed lawmakers that the Treasury Department may not be able to pay all government bills as early as June 1 if Congress does not raise or suspend the debt ceiling before then.

What do you think about Donald Trump urging Republican lawmakers to let the US 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 discovered 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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