# Trump's plan to cut the national debt **URL:** \ **Category:** Politics & Elections\ **Created:** [May 7, 2016, 5:21pm UTC](https://boards.straightdope.com/t/trumps-plan-to-cut-the-national-debt/754196 "2016-05-07T17:21:50Z")\ **Posts on this page:** 20\ **Page:** 1
**Author:** ![Johnny\_L.A](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/johnny_l.a/32/1084_2.png) [@Johnny\_L.A](https://boards.straightdope.com/u/Johnny_L.A)\ **Post date:** [May 7, 2016, 5:21pm UTC](https://boards.straightdope.com/t/trumps-plan-to-cut-the-national-debt/754196/1 "2016-05-07T17:21:50Z")
[Get Creditors to Accept Less](http://www.nytimes.com/2016/05/07/us/politics/donald-trumps-idea-to-cut-national-debt-get-creditors-to-accept-less.html?_r=0) > [@](#): > > Asked on Thursday whether the United States needed to pay its debts in full, or whether he could negotiate a partial repayment, Mr. Trump told the cable network CNBC, “I would borrow, knowing that if the economy crashed, you could make a deal.” > > He added, “And if the economy was good, it was good. So, therefore, you can’t lose.” He did backtrack a little: > [@](#): > > Pressed to elaborate on his remarks, Mr. Trump did appear to step back. He said that he was not suggesting a default, but instead that the government could seek to repurchase debt for less than the face value of the securities. The government, in other words, would seek to repay less money than it borrowed. Since more than 65% of the national debt is owed to Americans, and 16% of the debt is owed to Social Security, I wonder how retirees will react when their Social Security checks are slashed? Don’t most retirees tend to vote Republican? They can’t say, ‘Well I didn’t vote to cut my government money!’ ---
**Author:** ![Catamount](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/catamount/32/2840_2.png) [@Catamount](https://boards.straightdope.com/u/Catamount)\ **Post date:** [May 7, 2016, 5:37pm UTC](https://boards.straightdope.com/t/trumps-plan-to-cut-the-national-debt/754196/2 "2016-05-07T17:37:59Z")
:smack: And here we see the best answer to the question “Why can’t we run the government like a business?” ---
**Author:** ![lance\_strongarm](https://avatars.discourse-cdn.com/v4/letter/l/87869e/32.png) [@lance\_strongarm](https://boards.straightdope.com/u/lance_strongarm)\ **Post date:** [May 7, 2016, 5:43pm UTC](https://boards.straightdope.com/t/trumps-plan-to-cut-the-national-debt/754196/3 "2016-05-07T17:43:16Z")
> [@Johnny\_L.A](#): > > [Get Creditors to Accept Less](http://www.nytimes.com/2016/05/07/us/politics/donald-trumps-idea-to-cut-national-debt-get-creditors-to-accept-less.html?_r=0) > > He did backtrack a little: > > Since more than 65% of the national debt is owed to Americans, and 16% of the debt is owed to Social Security, I wonder how retirees will react when their Social Security checks are slashed? Don’t most retirees tend to vote Republican? They can’t say, ‘Well I didn’t vote to cut my government money!’ And how will the credit markets react when we try to borrow another dime? He would destroy our credit. Trump would ruin us. The man is downright scary. ---
**Author:** ![Johnny\_L.A](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/johnny_l.a/32/1084_2.png) [@Johnny\_L.A](https://boards.straightdope.com/u/Johnny_L.A)\ **Post date:** [May 7, 2016, 5:51pm UTC](https://boards.straightdope.com/t/trumps-plan-to-cut-the-national-debt/754196/4 "2016-05-07T17:51:17Z")
> [@](#): > > Mr. Trump told CNBC that he was concerned about the impact of higher interest rates on the cost of servicing the federal debt. “We’re paying a very low interest rate,” he said. “What happens if that interest rate goes two, three, four points up? We don’t have a country. I mean, if you look at the numbers, they’re staggering.” I work in the credit industry. Want to know what happens to your interest rates if you have a bad credit rating? ---
**Author:** ![running\_coach](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/running_coach/32/15836_2.png) [@running\_coach](https://boards.straightdope.com/u/running_coach)\ **Post date:** [May 7, 2016, 5:54pm UTC](https://boards.straightdope.com/t/trumps-plan-to-cut-the-national-debt/754196/5 "2016-05-07T17:54:20Z")
[From here.](https://www.yahoo.com/news/experts-predict-economic-disaster-trump-recovery-idea-065837562--election.html?ref=gs) > [@](#): > > Just as he floated a plan that experts say would raise interest rates, Trump separately discussed the need to be cautious about higher rates during the same CNBC interview in which\*\* he bragged about being “the king of debt.”\*\* > > “It’s a real dilemma, and we have to be very, very careful,” he said.\*\* “I love debt. I love playing with it,\*\* but of course now you’re talking about something very, very fragile.” He thinks the economy is a fucking _toy_. ---
**Author:** ![MandaJo](https://avatars.discourse-cdn.com/v4/letter/m/ac91a4/32.png) [@MandaJo](https://boards.straightdope.com/u/MandaJo)\ **Post date:** [May 7, 2016, 5:55pm UTC](https://boards.straightdope.com/t/trumps-plan-to-cut-the-national-debt/754196/6 "2016-05-07T17:55:21Z")
There is literally no end to the number of ways this is a bad idea. It’s like a fractal, where every way that it’s a bad idea is, in itself, enough to make it the worst idea anyone has ever had. My first thought was that it would be a disaster for his candidacy because people would realize that “renegotiating with creditors” means “cutting granny’s retirement check” or “shrinking your pension”, but then I realized that a lot of low-information voters believe dogmatically that our debt is held entirely by the Chinese, and the idea of telling China “Fuck you guys, you need us more than we need you, take $.75 on the dollar or we will just go home” would have some romantic appeal to that sort of person–we are so powerful that we don’t have to pay off our debts because they fear us. Obviously, this is entirely, entirely wrong, but these are the same people that believe a 34% tariff on cars built in Mexico would be a great idea. ---
**Author:** ![elucidator](https://avatars.discourse-cdn.com/v4/letter/e/8edcca/32.png) [@elucidator](https://boards.straightdope.com/u/elucidator)\ **Post date:** [May 7, 2016, 6:23pm UTC](https://boards.straightdope.com/t/trumps-plan-to-cut-the-national-debt/754196/7 "2016-05-07T18:23:46Z")
> [@Johnny\_L.A](#): > > I work in the credit industry. Want to know what happens to your interest rates if you have a bad credit rating? Not a problem. Trump will have the Secretary of the Treasury send out e-mails to the effect that he has a big pot of money that must be deposited in America, and if he could just have the recipients bank account numbers and other info… ---
**Author:** ![septimus](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/septimus/32/410_2.png) [@septimus](https://boards.straightdope.com/u/septimus)\ **Post date:** [May 7, 2016, 6:26pm UTC](https://boards.straightdope.com/t/trumps-plan-to-cut-the-national-debt/754196/8 "2016-05-07T18:26:35Z")
Until I saw this, I thought Trump was a man of above-average intelligence only pretending to be a moron. Now I know better. And Paul ‘Atlas Shrugged is my favorite book’ Ryan, leader of the “sane” wing of the GOP, is ready to endorse The Donald as soon as he makes some “_I hate government and unsuccessful people_” incantation. :rolleyes: O frabjous day, the GOP really has imploded! ---
**Author:** ![elucidator](https://avatars.discourse-cdn.com/v4/letter/e/8edcca/32.png) [@elucidator](https://boards.straightdope.com/u/elucidator)\ **Post date:** [May 7, 2016, 6:55pm UTC](https://boards.straightdope.com/t/trumps-plan-to-cut-the-national-debt/754196/9 "2016-05-07T18:55:38Z")
Six more months. I’ve resolved to remain sane and sober. I may have to choose. ---
**Author:** ![truthSeeker2](https://avatars.discourse-cdn.com/v4/letter/t/7cd45c/32.png) [@truthSeeker2](https://boards.straightdope.com/u/truthSeeker2)\ **Post date:** [May 7, 2016, 7:05pm UTC](https://boards.straightdope.com/t/trumps-plan-to-cut-the-national-debt/754196/10 "2016-05-07T19:05:58Z")
God bless Donald Trump. Really. He is the only one having the boldness and courage to raise the right issues . Hillary, Obama and others are going to be dishonest always on this main issue of the election. ---
**Author:** ![Ulf\_the\_Unwashed](https://avatars.discourse-cdn.com/v4/letter/u/b4bc9f/32.png) [@Ulf\_the\_Unwashed](https://boards.straightdope.com/u/Ulf_the_Unwashed)\ **Post date:** [May 7, 2016, 7:12pm UTC](https://boards.straightdope.com/t/trumps-plan-to-cut-the-national-debt/754196/11 "2016-05-07T19:12:25Z")
> [@truthSeeker2](#): > > God bless Donald Trump. Really. > > He is the only one having the boldness and courage to raise the right issues . Hillary, Obama and others are going to be dishonest always on this main issue of the election. The “main issue of the election” is cutting people’s Social Security payments? And arguing in favor puts him on the right side of this issue? My goodness. ---
**Author:** ![Euphonious\_Polemic](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/euphonious_polemic/32/3002_2.png) [@Euphonious\_Polemic](https://boards.straightdope.com/u/Euphonious_Polemic)\ **Post date:** [May 7, 2016, 7:24pm UTC](https://boards.straightdope.com/t/trumps-plan-to-cut-the-national-debt/754196/12 "2016-05-07T19:24:22Z")
> [@Ulf\_the\_Unwashed](#): > > The “main issue of the election” is cutting people’s Social Security payments? > And arguing in favor puts him on the right side of this issue? > My goodness. I’m really hoping **truthSeeker2** ’s post was a whoosh. Because if it was not… Oh my. ---
**Author:** ![truthSeeker2](https://avatars.discourse-cdn.com/v4/letter/t/7cd45c/32.png) [@truthSeeker2](https://boards.straightdope.com/u/truthSeeker2)\ **Post date:** [May 7, 2016, 7:26pm UTC](https://boards.straightdope.com/t/trumps-plan-to-cut-the-national-debt/754196/13 "2016-05-07T19:26:41Z")
> [@Ulf\_the\_Unwashed](#): > > The “main issue of the election” is cutting people’s Social Security payments? > And arguing in favor puts him on the right side of this issue? > My goodness. 1. This is the situation your past and present presidents have got you in. 2. Why should the younger generation have so much debt of past generations? 3. There is no harm in taking some %age points’ cut. 4. It (the cut) most likely wont happen but Trump won’t talk about it in any case before elections because he is smart 5. It (some cuts) will be an amazing thing if it happens. Honesty is great. ---
**Author:** ![boffking](https://avatars.discourse-cdn.com/v4/letter/b/858c86/32.png) [@boffking](https://boards.straightdope.com/u/boffking)\ **Post date:** [May 7, 2016, 7:34pm UTC](https://boards.straightdope.com/t/trumps-plan-to-cut-the-national-debt/754196/14 "2016-05-07T19:34:55Z")
If I stay at the Trump Hotel, I’m going to tell them that I’m not paying $500 a night, I will only pay $200. How well will that go? ---
**Author:** ![Johnny\_L.A](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/johnny_l.a/32/1084_2.png) [@Johnny\_L.A](https://boards.straightdope.com/u/Johnny_L.A)\ **Post date:** [May 7, 2016, 7:35pm UTC](https://boards.straightdope.com/t/trumps-plan-to-cut-the-national-debt/754196/15 "2016-05-07T19:35:04Z")
> [@truthSeeker2](#): > > 1. This is the situation your past and present presidents have got you in. > 2. Why should the younger generation have so much debt of past generations? > 3. There is no harm in taking some %age points’ cut. > 4. It (the cut) most likely wont happen but Trump won’t talk about it in any case before elections because he is smart > 5. It (some cuts) will be an amazing thing if it happens. Honesty is great. Did you miss the part where the Republicans’ little temper tantrum in 2011 will end up costing U.S. taxpayers $19 billion because of higher interest rates? Do you remember 2007/2008 when Bush & Co. crashed the economy? Did you know that other countries turn to the U.S. dollar as a safe haven because we pay our debts? Imagine if Trump essentially files Chapter 11 and the dollar is no longer a safe investment. Honesty is great. Trump is not honest. He’s also incapable of running a country. ---
**Author:** ![truthSeeker2](https://avatars.discourse-cdn.com/v4/letter/t/7cd45c/32.png) [@truthSeeker2](https://boards.straightdope.com/u/truthSeeker2)\ **Post date:** [May 7, 2016, 7:43pm UTC](https://boards.straightdope.com/t/trumps-plan-to-cut-the-national-debt/754196/16 "2016-05-07T19:43:42Z")
> [@Johnny\_L.A](#): > > Did you miss the part where the Republicans’ little temper tantrum in 2011 will end up costing U.S. taxpayers $19 billion because of higher interest rates? > > Do you remember 2007/2008 when Bush & Co. crashed the economy? Did you know that other countries turn to the U.S. dollar as a safe haven because we pay our debts? Imagine if Trump essentially files Chapter 11 and the dollar is no longer a safe investment. > > Honesty is great. Trump is not honest. He’s also incapable of running a country. That will be amazing. Other countries will work and produce for their own people. Not for the American consumer. Restructuring of debt, some haircuts etc will go a long way in restoring credibility because present situation is just hopeless for the system. ---
**Author:** ![Johnny\_L.A](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/johnny_l.a/32/1084_2.png) [@Johnny\_L.A](https://boards.straightdope.com/u/Johnny_L.A)\ **Post date:** [May 7, 2016, 7:44pm UTC](https://boards.straightdope.com/t/trumps-plan-to-cut-the-national-debt/754196/17 "2016-05-07T19:44:54Z")
OK, I’m running into Poe’s Law here. ---
**Author:** ![Leaper](https://avatars.discourse-cdn.com/v4/letter/l/4bbf92/32.png) [@Leaper](https://boards.straightdope.com/u/Leaper)\ **Post date:** [May 7, 2016, 7:46pm UTC](https://boards.straightdope.com/t/trumps-plan-to-cut-the-national-debt/754196/18 "2016-05-07T19:46:58Z")
Well, you always knew there are voters just fine with eliminating “entitlements”; it’s a point well taken on this particular topic. ---
**Author:** ![Johnny\_L.A](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/johnny_l.a/32/1084_2.png) [@Johnny\_L.A](https://boards.straightdope.com/u/Johnny_L.A)\ **Post date:** [May 7, 2016, 7:49pm UTC](https://boards.straightdope.com/t/trumps-plan-to-cut-the-national-debt/754196/19 "2016-05-07T19:49:04Z")
> [@Leaper](#): > > Well, you always knew there are voters just fine with eliminating “entitlements”; it’s a point well taken on this particular topic. 'But… But I meant _other people’s_ entitlements! :mad: ’ ---
**Author:** ![Smapti](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/smapti/32/17938_2.png) [@Smapti](https://boards.straightdope.com/u/Smapti)\ **Post date:** [May 7, 2016, 7:49pm UTC](https://boards.straightdope.com/t/trumps-plan-to-cut-the-national-debt/754196/20 "2016-05-07T19:49:14Z")
> [@truthSeeker2](#): > > Restructuring of debt, some haircuts etc will go a long way in restoring credibility because present situation is just hopeless for the system. I do not think the national debt works the way you think it works. [Next page](https://boards.straightdope.com/t/trumps-plan-to-cut-the-national-debt/754196.md?page=2)