Trump Warns GOP to Slash Spending or Risk Economic Catastrophe through Default

In a recent town hall meeting in New Hampshire, Donald Trump suggested that if Congressional Republicans did not make massive spending cuts, they should be willing to risk a U.S. and global economic default on debt. He warned that Republicans would “have to default” without further spending cuts. Trump later stated that he did not necessarily need a default because he expected the Democrats to give in to his demands. The former president’s remarks are particularly significant as they come at a time when both parties traditionally try to avoid responsibility for the debt ceiling conflict. The president’s comments also come at a time when economists have long warned that a default would slow the U.S. economy and have repercussions around the world, potentially leading to a recession and significant job losses.