Today May 9, 2016, Mr. Trump was reported to have explained that getting creditors to take less meant paying off loans to creditors in today’s interest rates if rates go higher than they are now. ( I wonder if that would prevent the global crisis?)
October 7, 2013
…Treasury Secretary Jack Lew warned that the budget brinkmanship was “playing with fire” and implored Congress to pass legislation to re-open the government and increase the nation’s $16.7 trillion debt limit. Lew reiterated that Obama has no intention to link either bill to Republican demands for changes in the 3-year-old health care law and spending cuts.
A defiant Boehner insisted that Obama must negotiate if the president wants to end the shutdown and avert a default that could trigger a financial crisis and recession that would echo 2008 or worse. The 2008 financial crisis plunged the country into the worst recession since the Great Depression of the 1930s…