Donald Trump defends himself “brilliantly” using bankruptcy laws
Highlights of history
Donald Trump has responded to Hillary Clinton’s harsh criticism of his business practices
Trump said Clinton doesn’t understand debt
Donald Trump on Tuesday fended off criticism of the bankruptcy history of his companies, reiterating his argument that, like other smart businessmen, he “used, brilliantly, the laws of the land” to his advantage.
The alleged GOP candidate was responding to attacks launched by his Democratic rival Hillary Clinton, who lambasted Trump’s trade record and economic ideas. in a cutting speech earlier the same day.
“What I did was use the laws of the land with flying colors. And not personally, just corporate. And if you look at people like me who are at the highest levels of activity, they use – a lot of them have, multiple times, “Trump told ABC World News Tonight host. », David Muir.
“But are average Americans paying the price, though? Muir replied.
“I run a business,” Trump said. “I run a business for myself, for my business, for my employees and for my family. Hillary would have no idea how to do this. Do not forget. Someone has to understand the debt. She doesn’t understand the debt.
In another interview on “CBS This Morning” on Wednesday, Trump continued to discuss the economy. Asked about his penchant for corporate debt – Turmp once dubbed himself ‘the debt king’, a name Clinton redefined as an attack – Trump explained that ‘if things don’t work out I renegotiate “.
Pressed further on how he would negotiate the country’s debt, Trump replied, “You go back and say, guess what, the economy has collapsed, I’m going to give you half of it.”
But Trump quickly reversed that claim moments later when O’Donnell referred to comments by Federal Reserve Chairman Janet Yellen, who warned that there could be “very serious” consequences if the United States were trying to reverse their debt obligations.
“I would not renegotiate the debt,” Trump said. “If I do a deal in a company, for example… that’s a different thing. He then explained that his strategy for tackling the national debt would be to borrow under favorable circumstances to lengthen debt payments in order to make them more manageable.
“I think this might be a good time to borrow and pay off debt – borrow debt, take on longer term debt,” Trump said.
Earlier Tuesday, Clinton spoke to Trump in an economic policy speech that attempted to dismantle his political prescriptions and portray the businessman as a danger to the U.S. economy.
Clinton addressed Trump’s bankruptcy story in his remarks, citing CNN report that no major American company has filed for Chapter 11 bankruptcy in the past 30 years more than Trump’s casino empire. She accused him of wanting to “bankrupt America like we were one of its casinos bankrupt,” and joked that Trump had “written a lot of business books. They all seem to end in Chapter 11.