Donald Trump is insisting that by “renegotiating all of our deals” he will be able to wipe out the United States’ debt in eight years.
The Hill reported that the Republican frontrunner said in a wide-ranging interview with the Washington Post that he’d be able to get rid of the more than $19 trillion debt “over a period of eight years.”
Eliminating that amount of debt in eight years is highly impossible, according to most economists, the Washington Post reported. It could require using $2 trillion a year from the annual $4 trillion budget to pay off holders of the debt.
Trump insisted in the interview that “renegotiating all of our deals” will help pay down the debt by sparking economic growth.
“The power is trade. Our deals are so bad,” Trump said. “I would immediately start renegotiating our trade deals with Mexico, China, Japan and all of these countries that are just absolutely destroying us.”
You can read the rest of the story here.