Trump policy on exploding US debt has been leaked: "I won't be here."

[DetlefK]

https://www.thedailybeast.com/trump-on-coming-debt-crisis-i-wont-be-here-when-it-blows-up

Since the 2016 presidential campaign, Donald Trump’s aides and advisers have tried to convince him of the importance of tackling the national debt.

Sources close to the president say he has repeatedly shrugged it off, implying that he doesn’t have to worry about the money owed to America’s creditors—currently about $21 trillion—because he won’t be around to shoulder the blame when it becomes even more untenable.

The friction came to a head in early 2017 when senior officials offered Trump charts and graphics laying out the numbers and showing a “hockey stick” spike in the national debt in the not-too-distant future. In response, Trump noted that the data suggested the debt would reach a critical mass only after his possible second term in office.

“Yeah, but I won’t be here,” the president bluntly said, according to a source who was in the room when Trump made this comment during discussions on the debt.

Meanwhile, on the campaign-trail he bragged that he can pay off the whole US debt in 8 years.

https://thehill.com/blogs/ballot-box/presidential-races/275003-trump-i-will-eliminate-us-debt-in-8-years

[underpants]

1. He's the best at debt. THE BEST!

[mindem]

2. I still can't believe

so many people were stupid enough to believe anything this idiot drumph said and vote for him. Anyone who supports anything about the repuke party does not love their country. Enough is enough.

[RainCaster]

3. The US will just declare bankruptcy, right? DFT did that so many times he knew it would work again

Of course!

[Tanuki]

4. The stable genius has also said the govt. should just "print more money" to eliminate the debt.

https://thehill.com/blogs/blog-briefing-room/news/406085-trumps-plan-to-help-eliminate-federal-debt-was-to-print-money

Trump "allegedly suggested to his chief economic adviser last year that the government should print more money to help eliminate federal debt, according to an excerpt from Bob Woodward’s new book.
...........

“We should just go borrow a lot of money, hold it, and then sell it to make money,” Trump reportedly said in response.

Cohn was “astounded” by the president’s response, which he reportedly said illustrated a “lack of basic understanding” about how federal debt works.

Trump, who was the president-elect at the time and had promised to wipe out U.S. debt in eight years, reportedly offered a solution: “Just run the presses — print money.”

Woodward wrote that Cohn then went on to explain how printing more money is thought to lead to inflation and could be catastrophic for the fiscal health of the U.S.

"It was clear that Trump did not understand the way the US government debt cycle balance sheet worked," Woodward wrote.....(more)