Former President Donald Trump believes President Joe Biden and congressional Democrats will cave on House Republicans’ request for significant spending cuts to raise the debt ceiling.
Trump’s remarks came during a CNN Townhall held at New Hampshire’s Saint Anselm College.
“Such an important question. So we’re at $33 trillion, a number that nobody ever thought possible,” Trump said in response to an audience member’s question about his thoughts on the current debt ceiling showdown.
Trump then touted his economic policies but said, “We had to keep this country,” once the Coronavirus pandemic started.
Trump said:
When we had our economy rocking and rolling just prior to COVID coming in, literally, we were making a fortune and oil. We’re going to make so much money from oil. We were going to start paying off debt. But then, with COVID coming and we had to do other things, we had to keep this country alive because it was so serious. But we have to get the country back. We have to lower energy prices, we have to lower interest rates, interest rates are through the roof, energy has to come down, it all has to come down, and we have to start paying off debt.
Trump criticized congressional Democrats for their refusal to negotiate on the debt ceiling, despite using it to negotiate with him when he was president.
“But when we have a debt limit, and they used that very seriously with me. They came in, Schumer came in with Nancy Pelosi, and they said ‘We’ll use it, we’ll violate it, will do whatever.’ They talked a whole lot different than they do right now,” Trump said.
He then said the country would likely avoid default because the Democrats will give in to House Republicans’ request for spending cuts.
Trump said:
I say to the Republicans out there, congressmen, senators, if they don’t give you massive cuts, you’re going to have to do a default. And I don’t believe they’re going to do a default because I think the Democrats will absolutely cave because you don’t want to have that happen. But it’s better than what we’re doing right now because we’re spending money like drunken sailors.
“So, just to be clear, Mr. President, you think the U.S. should default if the White House does not agree to the spending cuts Republicans are demanding?” CNN’s Kaitlan Collins asked.
“We might as well do it now, because you’ll do it later, because we have to save this country. Our country is dying. Our country is being destroyed by stupid people, by very stupid people,” Trump said.
Jordan Dixon-Hamilton is a reporter for Breitbart News. Write to him at jdixonhamilton@breitbart.com or follow him on Twitter.