President Trump has frequently called himself ‘the king of debt’, meaning he has years of experience as a real estate developer around the world negotiating loans, restructurings, and even using bankruptcy to shed debt, which is a legal business strategy.
Now the President faces a country with more debt on the books than it produces in a year with its economy.
White House press secretary Kayleigh McEnany outlined Trump’s thoughts on the how to deal with the U.S. sovereign debt pile in the second term. In short, Trump wants to grow our way out of it, because we all know spending will never be cut in the amount needed to balance the budget.
“What is the president’s plan, as the economy does rebound, to take this on? Obviously, it was needed with the coronavirus pandemic, and that is why we are looking at this right now, but something obviously has to be done about this as we do slowly see the economy recover. What is the president’s plan?” Fox News asked.
“I spoke with the president about this just before coming and joining you, and he said absolutely the debt is a big second-term priority of his,” McEnany declared. “He wants to see unprecedented growth and we’ll see that on President Trump’s watch. He had the hottest economy in modern history once. He cut taxes for middle-class and hard-working Americans.
“We believe unprecedented growth will go a long way in solving the problem, but it is certainly a second term priority.”