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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
“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.
Photos: Donald Trump's rise
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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.
Photos: Donald Trump's rise
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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.
Photos: Donald Trump's rise
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Donald J. Trump for President, Inc.
Trump, left, in a family photo. He was the second-youngest of five children.
Photos: Donald Trump's rise
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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.
Photos: Donald Trump's rise
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Seth Poppel/Yearbook Library
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.
Photos: Donald Trump's rise
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NY Daily News Archive via Getty Images
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.
Photos: Donald Trump's rise
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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.
Photos: Donald Trump's rise
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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.
Photos: Donald Trump's rise
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The Trump family, circa 1986.
Photos: Donald Trump's rise
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Trump uses his personal helicopter to get around New York in 1987.
Photos: Donald Trump's rise
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Trump stands in the atrium of the Trump Tower.
Photos: Donald Trump's rise
