No Need to Default on Debt- You Print the Money
In an interview with CNN Monday Donald Trump said that the U.S. will not have to default on its debt, "because you print the money,"
- CNN
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Donald Trump defended himself in an interview with CNN yesterday after he was reported suggesting that the U.S. should default on some of its debts.
"People said I want to go and buy debt and default on debt, and I mean, these people are crazy. This is the United States government," Trump told CNN's Chris Cuomo. "First of all, you never have to default because you print the money, I hate to tell you, OK?"
Trump explained that he would build his approach around the concept of buying back debt should the interest rates go up.
"I said if we can buy back government debt at a discount, in other words, if interest rates go up and we can buy bonds back at a discount -- if we are liquid enough as a country, we should do that," Trump said. "In other words, we can buy back debt at a discount."
Trump called himself, "The king of debt."
"I understand debt better than probably anybody. I know how to deal with debt very well. I love debt -- but you know, debt is tricky and it's dangerous, and you have to be careful and you have to know what you're doing," Trump said.
"People said I want to go and buy debt and default on debt, and I mean, these people are crazy. This is the United States government," Trump told CNN's Chris Cuomo. "First of all, you never have to default because you print the money, I hate to tell you, OK?"
Trump explained that he would build his approach around the concept of buying back debt should the interest rates go up.
"I said if we can buy back government debt at a discount, in other words, if interest rates go up and we can buy bonds back at a discount -- if we are liquid enough as a country, we should do that," Trump said. "In other words, we can buy back debt at a discount."
Trump called himself, "The king of debt."
"I understand debt better than probably anybody. I know how to deal with debt very well. I love debt -- but you know, debt is tricky and it's dangerous, and you have to be careful and you have to know what you're doing," Trump said.
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