{"id":20830,"date":"2023-05-11T22:33:31","date_gmt":"2023-05-11T22:33:31","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/donald-trump-urges-republicans-to-let-us-default-on-debt-if-democrats-dont-agree-to-spending-cuts-economics-bitcoin-news\/"},"modified":"2023-05-11T22:33:31","modified_gmt":"2023-05-11T22:33:31","slug":"donald-trump-urges-republicans-to-let-us-default-on-debt-if-democrats-dont-agree-to-spending-cuts-economics-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/donald-trump-urges-republicans-to-let-us-default-on-debt-if-democrats-dont-agree-to-spending-cuts-economics-bitcoin-news\/","title":{"rendered":"Donald Trump Urges Republicans to Let US Default on Debt if Democrats Don’t Agree to Spending Cuts \u2013 Economics Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Former U.S. President Donald Trump has urged Republican lawmakers to let the U.S. default on its debt obligations if the Democrats do not agree on \u201cmassive\u201d spending cuts. Trump, who is also running for president in 2024, stressed that letting the U.S. default is \u201cbetter than what we\u2019re doing right now because we\u2019re spending money like drunken sailors.\u201d<\/strong><\/p>\n

Donald Trump\u2019s Advice on U.S. Default<\/h2>\n

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.<\/p>\n

Trump was asked during a televised CNN Town Hall on Wednesday for his advice to Republicans on the possibility of the U.S. defaulting on its debt obligations. He said:<\/p>\n

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I say to the Republicans out there \u2014 congressmen, senators \u2014 if they don\u2019t give you massive cuts, you\u2019re going to have to do a default.<\/p>\n<\/blockquote>\n

The former U.S. president added: \u201cI don\u2019t believe they\u2019re going to do a default because I think the Democrats will absolutely cave, because you don\u2019t want to have that happen.\u201d<\/p>\n

Trump, who announced in November last year that he is running for president again in 2024, stressed:<\/p>\n

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But, it\u2019s better than what we\u2019re doing right now because we\u2019re spending money like drunken sailors.<\/p>\n<\/blockquote>\n

When pressed to clarify if he believes that \u201cthe U.S. should default if the White House does not agree to the spending cuts,\u201d Trump promptly answered:<\/p>\n

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Well, you might as well do it now, because you\u2019ll do it later. Because we have to save this country. Our country is dying. Our country is being destroyed by stupid people, by very stupid people.<\/p>\n<\/blockquote>\n

Trump has issued multiple warnings regarding the U.S. economy and the U.S. dollar in recent months. He claimed last month that the USD is crashing<\/a> and \u201cwill soon no longer be the world standard.\u201d He also warned that \u201cwe are very close\u201d to World War III.<\/p>\n

U.S. Treasury Secretary Janet Yellen has informed lawmakers that the Treasury Department may not be able to pay all of the government\u2019s bills as early as June 1<\/a> \u201cif Congress does not raise or suspend the debt limit before that time.\u201d<\/p>\n

What do you think about Donald Trump urging Republican lawmakers to let the U.S. default on its debt obligations if Democrats don\u2019t agree to spending cuts? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nKevin Helms <\/h6>\n

\nA student of Austrian Economics, Kevin found 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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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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