Former US President Donald Trump at the Trump Turnberry Golf Course in South Ayrshire during his visit to the UK.
Steve Welsh | Pa Images | Getty Images
Former President Donald Trump urged Republican lawmakers on Wednesday to default the U.S. if Democrats don’t agree to spending cuts.
“I say to the Republicans out there — congressmen, senators — if they don’t give you big cuts, you’re going to have to default,” Trump said. “And I don’t believe they’re going to default because I think the Democrats are absolutely going to capitulate, absolutely capitulate, because you don’t want that to happen. But it’s better than what we’re doing right now because we’re spending like drunk sailors .”
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When CNN anchor Kaitlan Collins urged him to clarify his remarks, Trump said: “Well, you better do it now because you’ll do it later because we have to save this country. Our country is dying. Our country is being destroyed stupid people, very stupid people.”
Trump, the leading contender for the 2024 Republican presidential nomination, made the remarks during a CNN town hall during which he defended supporters who staged a violent insurrection at the U.S. Capitol in January 2021 and Mocking writer E. Jean Carroll a day later a jury found him liable for sexually abusing and defaming her.
Trump’s remarks took longer than expected in the U.S. run out of cash It can’t pay its bills unless Congress fixes the debt limit.Since January, the U.S. government has taken extraordinary measures to avoid breach of contract.
According to analysts and economists, a default would unleash market chaos and cost millions of jobs. Republicans have voted to raise the debt ceiling three times during Trump’s term.
Trump’s words are likely to encourage many of his Republican supporters in the House to strengthen their position against raising the debt ceiling without matching spending cuts. Biden has said he will not negotiate raising the debt ceiling, but has indicated he is open to discussing ways to reduce spending in a separate context.
Biden and four major congressional leaders, including a Trump supporter, House Speaker Kevin McCarthy, R-Calif., will meet again on Friday to discuss the debt ceiling. Treasury Secretary Janet Yellen said the US government could reach the debt ceiling as soon as June 1.