Trump Wants To Use His Bankruptcy Experience For US Debt

Apparently Donald Trump wants to bring his rather vast experience with bankruptcy restructuring to our national government. In an interview with CNBC, Trump said he would “make a deal” regarding the full payment of our national debt. The implication of that statement is that the United States would technically default on its debt. Now there may be some members of the Tea Party who would be comfortable with this, but most people recognize how important the “full faith and credit” of the United States Government is. The liquidity and stability of US Treasury securities still grease the wheels of the global economy and, as we saw in 2011, any inkling, no matter how remote, that we will not stand behind our debt can raise our borrowing costs significantly. I’m pretty sure that Wall Street will not take kindly to this kind of talk – let’s just hope that they don’t write it off as Trump being Trump. At some point, there has to be some accountability for the things he says.