Donald Trump, the presidential nominee of the Republican party has predicted that he could rid the United States of its $19 trillion debt in two terms as president.
Trump said he could accomplish the elimination of debt “over a period of eight years”. He made this ambitious claim during an interview with the Washington Post published on Saturday. The Republican front-runner explained that he will govern in the similarly atypical, convention-defying manner he has campaigned.
Trump has been characteristically defiant to critics on his economic proposal. While many economists have argued that many of Trump’s economic proposals, including massive across-the-board tax cuts and potentially engaging in trade wars could damage the United States economically.
Trump said, “I am renegotiating all of our deals, the big trade deals that we’re doing so badly on. With China, $505 billion this year in trade”. Trump argued that those new deals would spur economic growth and allow the U.S. to pay off its trillions of dollars in debt.
Trump also repeated his claim that the United States is “sitting on an economic bubble. A financial bubble”, a prediction at odds with that of most economists and financial analysts, according to a recent Wall Street Journal survey.