Summers Says Debt Surge From Trump Plan Will Undermine US Power

Former Treasury Secretary Lawrence Summers said that President Donald Trump’s signature tax and spending plan will add to the US debt load in a way that will end up undermining the nation’s status as the preeminent global power.

“This makes us vulnerable,” Summers said on Bloomberg Television’s Wall Street Week with David Westin. “The world’s greatest debtor accumulating debt faster than any other country ever has in dollar volume is putting at risk its status as the world’s greatest power.”