Donald Trump, the former President and potential 2024 Republican presidential candidate, has advised Republican lawmakers to let the United States default on its debt obligations if Democrats do not agree to spending cuts. During a televised CNN Town Hall on Wednesday, Trump advised Republican congressmen and senators to demand massive spending cuts, saying that they should default on their debt obligations if they do not get what they want.
Trump believes that Democrats will cave in to Republican demands, stating that he does not believe that a default will happen. However, he thinks that a default is still better than the current situation, where the government is spending money recklessly. Trump urged Republicans to take action to save the country, which he believes is being destroyed by “stupid people.”
Trump’s Warnings About the US Economy
In recent months, Trump has issued multiple warnings about the US economy and the US dollar. He claims that the US dollar is crashing and that it “will soon no longer be the world standard.” Furthermore, he warns that the country is on the brink of World War III.
The US Treasury Department has informed lawmakers that it may not be able to pay all of the government’s bills as early as June 1 if Congress does not raise or suspend the debt limit before that time. This situation has become increasingly urgent, and Trump’s suggestion to default on debt obligations only adds to the complexity of the issue.
It remains to be seen whether Republicans will follow Trump’s advice or if Democrats will agree to spending cuts. With the US economy at stake, both parties will need to find a solution soon to avoid a potential default.