Trump on National Debt: "We’re Spending Money Like Drunken Sailors."

TRUMP: "If they don’t give you massive cuts, you’re going to have to do a default, and I don’t believe they’re going to do a default because I think the Democrats will absolutely cave because you don’t want to have that happen, but it’s better than what we’re doing right now because we’re spending money like drunken sailors.

>> Just to be clear, Mr. President, you think the U.S. Should default if the White House does not agree to the spending cuts Republicans are demanding?

TRUMP: We might as well do it now than do it later because our country is dying. Our country is being destroyed by stupid people, very stupid people.

>> You once said using the debt ceiling as a negotiating wedge could not happen.

TRUMP: Sure, that’s when I was president.

>> So why is it different now when you’re out of office?

TRUMP: Because now I’m not president.
[Applause]
>> The U.S. defaulting would be massively consequential for everyone –

TRUMP: You don’t know. It’s psychological more than anything else. And it could be very bad. It could be maybe nothing. Maybe you have have a bad week or a bad day, but, look, you have to cut your costs. We’re spending $7 trillion on much of it on nonsense. $7 trillion on nonsense.