Global Courant 2023-05-11 06:12:40
Former US President Donald Trump at Trump Turnberry Golf Course, in South Ayrshire, during his visit to the UK.
Steve Wels | Pa Images | Getty Images
Former President Donald Trump on Wednesday urged Republican lawmakers to default on the United States’ debt if Democrats don’t agree to cuts.
“I say to the Republicans there — congressmen, senators — if they don’t give you massive cuts, you’re going to have to default,” Trump said. And I don’t believe they’re going to default because I think the Democrats will absolutely concede, absolutely concede because you don’t want that to happen. But it’s better than what we’re doing now because we’re spending money like drunk sailors.”
When urged by CNN anchor Kaitlan Collins to clarify his remarks, Trump said, “Well you might as well do it now because you’ll do it later because we need to save this country. Our country is dying. Our country is destroyed by stupid people, by very stupid people.”
Trump, the leading contender for the 2024 Republican presidential nomination, made the remarks during a CNN town hall that came weeks before the US is expected to have no more money to pay its bills unless Congress raises or suspends the debt limit.
Read more: Confused about the debt ceiling? Here’s what you need to know
According to analysts and economists, a bankruptcy would cause chaos in the markets and result in millions of job losses. During the Trump presidency, Republicans voted to raise the debt ceiling three times.
Trump’s words could encourage his many GOP supporters in the House to harden their stance against raising the debt limit without corresponding cuts. Biden has said he will not negotiate raising the debt limit, though he said he is open to discussing ways to reduce spending in a separate context.
Biden and the top four congressional leaders, including Trump supporter House Speaker Kevin McCarthy, R-Calif., will meet again Friday to discuss the debt ceiling. Treasury Secretary Janet Yellen has said the US government could hit the debt limit on June 1.
