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Donald Trump explained how he'd approach cutting down the national debt
And he repeated his line that he's the "king of debt"
(CNN) —
Donald Trump declared Monday the U.S. never has to default on debt “because you print the money,” while trying to clarify his strategy for managing the national debt.
Trump insisted that he never said the U.S. should default or attempt to renegotiate with creditors, as had been reported.
World leaders scale back rhetoric on Donald Trump
’The king of debt’
“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,” Trump told CNN’s Chris Cuomo on “New Day.” “First of all, you never have to default because you print the money, I hate to tell you, OK?”
The presumptive Republican presidential nominee explained he would center his approach on debt buybacks if and when interest rates go up.
“I said if we can buy back government debt at a discount, in other words, if interest rates go up and we can buy bonds back at a discount – if we are liquid enough as a country, we should do that,” Trump said. “In other words, we can buy back debt at a discount.”
He also repeated his claim that he is “the king of debt.”
“I understand debt better than probably anybody. I know how to deal with debt very well. I love debt – but you know, debt is tricky and it’s dangerous, and you have to be careful and you have to know what you’re doing,” Trump said.
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President-elect Donald Trump has been in the spotlight for years. From developing real estate and producing and starring in TV shows, he became a celebrity long before winning the White House.
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Donald J. Trump for President, Inc.
Trump at age 4. He was born in 1946 to Fred and Mary Trump in New York City. His father was a real estate developer.
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Donald J. Trump for President, Inc.
Trump, left, in a family photo. He was the second-youngest of five children.
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Seth Poppel/Yearbook Library
Trump, center, stands at attention during his senior year at the New York Military Academy in 1964.
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Trump, center, wears a baseball uniform at the New York Military Academy in 1964. After he graduated from the boarding school, he went to college. He started at Fordham University before transferring and later graduating from the Wharton School, the University of Pennsylvania's business school.
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Trump stands with Alfred Eisenpreis, New York's economic development administrator, in 1976 while they look at a sketch of a new 1,400-room renovation project of the Commodore Hotel. After graduating college in 1968, Trump worked with his father on developments in Queens and Brooklyn before purchasing or building multiple properties in New York and Atlantic City, New Jersey. Those properties included Trump Tower in New York and Trump Plaza and multiple casinos in Atlantic City.
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Trump attends an event to mark the start of construction of the New York Convention Center in 1979.
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Trump wears a hard hat at the Trump Tower construction site in New York in 1980.
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Trump was married to Ivana Zelnicek Trump from 1977 to 1990, when they divorced. They had three children together: Donald Jr., Ivanka and Eric.
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The Trump family, circa 1986.
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Trump uses his personal helicopter to get around New York in 1987.
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Trump stands in the atrium of the Trump Tower.
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Trump attends the opening of his new Atlantic City casino, the Taj Mahal, in 1989.
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Trump signs his second book, "Trump: Surviving at the Top," in 1990. Trump has published at least 16 other books, including "The Art of the Deal" and "The America We Deserve."
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Trump and singer Michael Jackson pose for a photo before traveling to visit Ryan White, a young child with AIDS, in 1990.
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Trump dips his second wife, Marla Maples, after the couple married in a private ceremony in New York in December 1993. The couple divorced in 1999 and had one daughter together, Tiffany.
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Trump putts a golf ball in his New York office in 1998.
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An advertisement for the television show "The Apprentice" hangs at Trump Tower in 2004. The show launched in January of that year. In January 2008, the show returned as "Celebrity Apprentice."
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A 12-inch talking Trump doll is on display at a toy store in New York in September 2004.
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Trump attends a news conference in 2005 that announced the establishment of Trump University. From 2005 until it closed in 2010, Trump University had about 10,000 people sign up for a program that promised success in real estate. Three separate lawsuits -- two class-action suits filed in California and one filed by New York's attorney general -- argued that the program was mired in fraud and deception. Trump's camp rejected the suits' claims as "baseless." And Trump has charged that the New York case against him is politically motivated.
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Trump attends the U.S. Open tennis tournament with his third wife, Melania Knauss-Trump, and their son, Barron, in 2006. Trump and Knauss married in 2005.
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Trump wrestles with "Stone Cold" Steve Austin at WrestleMania in 2007. Trump has close ties with the WWE and its CEO, Vince McMahon.
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For "The Apprentice," Trump was honored with a star on the Hollywood Walk of Fame in January 2007.
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Trump appears on the set of "The Celebrity Apprentice" with two of his children -- Donald Jr. and Ivanka -- in 2009.
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Trump poses with Miss Universe contestants in 2011. Trump had been executive producer of the Miss Universe, Miss USA and Miss Teen USA pageants since 1996.
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In 2012, Trump announces his endorsement of Republican presidential candidate Mitt Romney.
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Trump speaks in Sarasota, Florida, after accepting the Statesman of the Year Award at the Sarasota GOP dinner in August 2012. It was shortly before the Republican National Convention in nearby Tampa.
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Trump appears on stage with singer Nick Jonas and television personality Giuliana Rancic during the 2013 Miss USA pageant.
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In June 2015, during a speech from Trump Tower, Trump announced that he was running for President. He said he would give up "The Apprentice" to run.