title:  Trump: We Should Default On Our Debt Because We Can Just ‘Print The Money’
text: A lot of time people ask the question: why can t we just print more money to get rid of our debt? The answer is simple. If you just print more money, you will be completely devalue our currency, thus sending our nation into a destructive economic tailspin, much like Germany in the early part of the 21st century.And if you re Donald Trump, you re A-OK with doing just that.The self described business  genius  just showed the American people how truly stupid and inept he is today when he gave a reason as to why America should default on its debt: just print more money, and buy it back. Appearing on CNN s New Day, Trump told host Chris Cuomo: People said I want to go and buy debt and default on debt, and I mean, these people are crazy. This is the United States government. First of all, you never have to default because you print the money, I hate to tell you, OK? Trump s plan basically consists of this: we don t raise the debt-ceiling, thus defaulting. But we won t default because interest rates will go up and we will use our liquid assets such as cash (which we ll print more of) to buy back bonds at a discount that will cover the debt.According to the Washington Post:The items in the federal budget that are the overwhelming drivers of long-term deficits wouldn t really be helped if the government were to unleash massive inflation. The federal government has pledged to pay for medical care for the elderly (through Medicare) for the poor (Medicaid) and provide basic retirement income (Social Security).But for each of those programs, inflation wouldn t solve the government s financial problems. It would make them worse (to put it in the technical language, they are real obligations, not nominal obligations).So, in other words, medical costs would skyrocket and social security payments would have to freeze, etc. The country would be in chaos.This comes after Trump touted himself as the  debt king  who  loves debt  and would use his  experience  in debt to solve all our problems and make us great again and that means printing more money to give us a faux impression of economic security, the same impression that brought many nations to their knees.This is the man who is supposed to be the economic genius and the one who will make America an economic powerhouse?The level of stupidity is maddening.Featured image via Mark Lyons/Getty Images