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Trump says debt crisis after presidency OK as ‘I won’t be here’: Report

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Donald Trump
President
Donald Trump answered questions from the press outside the White
House before departing to the G20 summit in November
2018.

Win McNamee/Getty
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  • President Donald Trump reportedly dismissed a future
    debt crisis because he “won’t be there” when it reaches a
    critical point.
  • US debt currently sits
    around $21 trillion
    , and the federal government is expected
    to issue $1.34 trillion in new debt this year — the most since
    2010.
  • Trump campaigned on reducing the federal debt, but
    sources told The Daily Beast that the president does not talk
    about it.
  • Trump has reportedly developed a new interest in the
    issue recently and told Cabinet officials to work on a way to
    reduce the deficit.
  • But people close to him say he does not see the issue
    of rising debt as crucial to his legacy as president.

President Donald Trump is not worried about setting the US up for
a massive debt crisis after his presidency as he “won’t be here”
when it erupts.

Sources close to the presidency
told The Daily Beast
that Trump has repeatedly shrugged off
any concerns about the rising national debt because he will not
be here when the national debt reaches a critical point.

Trump told senior officials in a 2017 briefing that economic data
suggests this point would come after he sat a second term in
office and addressed charts and graphics by saying: “Yeah,
but I won’t be here,”
a source that witnessed the comment
told The Daily Beast.

US debt currently sits
around $21 trillion
, and in a few years the US could be
paying more in interest on that debt
than on the military
or Medicare.

The Treasury
Department said in October
that the federal government
will issue $1.34 trillion in new debt during 2018 — a 146% jump
from 2017 and the highest amount of new debt issued since
2010.


Read More:



The US will issue over $1.3 trillion in new debt in 2018, the
highest amount since the depths of the recession

The GOP’s tax reform law is expected to add $1.5 trillion
in debt over the next 10 years and is expected to drive the US’s
exploding deficit.

Reducing the national debt is typically a major platform for
Republicans and one that Trump
campaigned on.
At a campaign rally in 2016,  he
accused Obama of  “doubling” the national debt.

But sources close to the president told The Daily Beast that
Trump does not raise the issue. One former senior White House
official said: “I never once heard him talk about the
debt.”

Trump may have recently shifted his attention to addressing
the ballooning deficit. According to a report
from The Washington Post
in November, Trump has demanded that
Cabinet officials work on a way to reduce the federal
deficit. 

A  former senior White House official told The Daily
Beast that “he understands the political nature of the debt but
it’s clearly not, frankly, something he sees as crucial to his
legacy.”

Other reports have also suggested Trump has had a
dismissive attitude towards national debt. The Post article
confirmed an anecdote in the journalist Bob Woodward’s latest
book, “Fear:
Trump in the White House
“: When Gary Cohn, Trump’s former
economic adviser, brought the issue to Trump’s attention, the
president suggested
the US could simply print more money
to pay off the
debt.

Marc Short, Trump’s former
legislative affairs director
, told The Daily Beast that Trump
does “recognize the threat that debt poses” and said that Trump’s
concern about “rising interest rates” shows his concern for the
matter. 

Senior Republicans have acknowledged the mounting debt.
House Speaker
Paul Ryan said in October
that one of his biggest
disappointments as speaker was his inability to address the
growing federal debt.


Read More:


Paul Ryan says one of his biggest regrets is the ballooning
federal deficit. The evidence shows he has himself to
blame.

“On healthcare itself and debt and deficits, it’s the one that
got away,” Ryan said at a Washington Post event.

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