Many people would agree that the United States’ debt is out of control and something needs to be done about it. GOP presidential hopeful Donald Trump is one of those people, and his plan to eliminate that debt has many liberals (and Republicans) scrambling.
Trump said as president he would be able to eliminate the nation’s more than $19 trillion debt “over a period of eight years” by renegotiating “all of our deals,” which would help reduce the debt by sparking economic growth.
Most economic analysts would consider this impossible because it would involve taking more than $2 trillion a year out of the country’s annual $4 trillion budget to pay off the debt.
Economists also indicate that trade wars would cripple the U.S. economy, but Trump disagreed.
“I’m renegotiating all of our deals, the big trade deals that we’re doing so badly on,” he said. “With China, $505 billion this year in trade.”
Trump said that in his first 100 days, he would cut taxes and renegotiate trade and military deals, one of which would include changing the U.S. role in the North Atlantic Treaty Organization. Watch Woodward discuss his interview with Trump below: READ MORE