The U.S. is hurtling toward a debt crisis. Congress seems entirely unfocused on doing anything about it.
Defaulting on the U.S. debt would have been unthinkable in any other presidency. But Trump has made a career of defaulting on debt. He’d buy a building or a casino or an airline, load it up with debt, run the thing into the ground financially — because he’s a terrible business man — refuse to pay his creditors, and they’d cut him slack because at the end of the day they didn’t really want to re-possess the asset. Trump thinks that’s how the world works, not just commercial New York real estate.
I think Trump would default on the U.S. debt in a heartbeat, and be proud of himself for doing it.
Who would get hurt? Anyone who holds debt obligations of the U. S. Treasury in our retirement assets, either individually or in a pension plan. Beyond that, defaulting on the debt would be a crisis for the global economy.
When are Trump voters going to wake up to the fact that they’ve elected not only a grifter and a con man, but a moron?