Donald Trump has recently made one of his more controversial policy statements: Trump said on Thursday that his way of dealing with the national debt is to “convince our creditors to take less than the full amount.” Trump’s idea is that he can work out a deal with the people to whom the US owes money; this deal would mean that the US pays a portion of the debt, but not the entire amount at the same time.

United States national debt

United States national debt

This policy has its good sides and its bad ones: first of all, trying to convince creditors to accept less than the full amount of money could go poorly for the US. That is not at all a traditional way of dealing with a debt crisis. On the other hand, this is an example of Trump using business sense to deal with problems in the US’s monetary policy. Although this method of dealing with the debt may not work, it IS a step in the right direction to stop following the status quo and hope that interest rates don’t rise. Trump still has to learn about government policy as opposed to business policy, but using business sense to solve government problems is a step in the right direction.

Category: Trump 2.0