Subject: ​Statement from Gene Sperling on Donald Trump's Risky Suggestion He Would Consider Defaulting on the National Debt as President
From: Hillary for America Press <[email-masked]>
To: Hillary for America Press <[email-masked]>
Date: Sat, 7 May 2016 16:05:54 -0400
List-Id: <nationalpress2016.hillaryclinton.com>

*​​Statement from Gene Sperling on Donald Trump's Risky Suggestion He Would
Consider Defaulting on the National Debt as President*

Gene Sperling, former Director of the National Economic Council and
Assistant to the President for Economic Policy under Presidents Bill
Clinton and Barack Obama, released the following statement regarding Donald
Trump's risky suggestion he would consider defaulting on the national debt
as president:

"The full faith and credit of the United States of America has been one of
the bulwarks of our economic strength for over 200 years. For Donald Trump
to casually announce he would consider defaulting on our debt for the first
time in our history shows a stunning lack of responsibility and
understanding of the global economy. Donald Trump might feel it is fine to
renege on his own debts and drive some of his companies in and out of
bankruptcy, but that is no way to run the United States economy. If a
President Trump made good on his recent proposal to make default a viable
economic option for the United States, it would risk a global financial
meltdown, drive up interest rates for Americans for decades, and seriously
harm middle-class families."

On Thursday, Trump said in an interview with CNBC that as president he
would consider not making good on the country's debt obligations, an action
that experts say could imperil the entire United States economy and/or
cause a global financial crisis:
​​

Washington Post: Editorial: Donald Trump sets a new record for economic
recklessness
<https://www.washingtonpost.com/opinions/donald-trump-sets-a-new-record-for-economic-recklessness/2016/05/06/e1d1d2a0-13b5-11e6-93ae-50921721165d_story.html>

Business Insider: Donald Trump is floating an insane idea that would tank
the American economy
<http://www.businessinsider.com/donald-trump-treasury-haircut-idea-insane-2016-5>
​

Vox: Donald Trump just threatened to cause an unprecedented global
financial crisis
<http://www.vox.com/2016/5/6/11607464/trump-haircut-default-debt>

CNN: Donald Trump: 'I'm the king of debt'
<http://money.cnn.com/2016/05/05/investing/trump-king-of-debt-fire-janet-yellen/index.html>

Reason: We were kidding about Donald Trump literally taking the U.S. to
bankruptcy court, right
<http://​reason.com/blog/2016/05/06/we-were-kidding-about-donald-trump-liter/amp>

Market Watch: Donald Trump's plan for the economy: let's copy Greece
<http://​www.marketwatch.com/amp/story/guid/FE88645A-13C8-11E6-9AD1-2F276A451976>

Huffington Post: Great, Donald Trump threatened to default on the national
debt
<http://m.huffpost.com/us/entry/donald-trump-default-national-debt_us_572d08e3e4b096e9f0917fac>

American Spectator: Donald Trump's dumb plan to default on our debt payments
<http://spectator.org/blog/66221/donald-trumps-dumb-plan-default-our-debt-payments>

​
​​
###

For Immediate Release, May 7, 2016
Contact: [email-masked]
​​

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