Presumptive Republican presidential nominee said Monday that his recent comments about renegotiating or restructuring debt with creditors are being misconstrued…
“People said I want to go and buy debt and default on debt. I mean, these people are crazy,” he said. “This is the United States government. First of all, you never have to default because you print the money — I hate to tell you, OK? So there’s never a default.”
“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,” Mr. Trump said on CNN’s “New Day.”
Defaulting on the US debt is precisely what’ve had said, but it looks like someone got to him and gave him a quick refresher on how money works. Also, why would the US buy back debt that is paying practically zero interest “at a discount” when interest rates go up? But that’s a whole other lesson Trump needs.