Economics
Trump Backtracks on Proposal to Renegotiate U.S. Debt
- Says U.S. never has to default `because you print the money’
- `Ridiculous’ to suggest he would favor a default, he says
A T-shirt with a picture depicting Republican presidential candidate Donald Trump is seen at a shop on the boardwalk in Atlantic City, New Jersey, on May 8, 2016.
Photographer: JEWEL SAMAD/AFP/Getty ImagesThis article is for subscribers only.
Donald Trump backtracked on his statement that he would renegotiate U.S. debt if the economy sours, a position that drew scorn from some in the financial community and provided an opening for Hillary Clinton’s campaign to blast the presumptive Republican presidential nominee on economic policy.
Trump said on CNN on Monday that he intended only to signal he would take advantage of a drop in the value of U.S. Treasury debt to save money by repurchasing debt on favorable terms.