Donald Trump Admits He ‘Made A Fortune Off Of Debt’ Using Tactics That Would Be Bad For The Country

Benjamin Simon - Author

Jun. 21 2016, Updated 2:17 p.m. ET

Hillary Clinton has never shied away from attacking her opponent Donald Trump any way she can. Lately, her go-to strategy seems to be pointing out Trump’s history of declaring bankruptcy and running businesses into debt. She claims that Donald Trump’s business strategies would be disastrous for the United States economy. Strangely, Trump sort of agreed with her in a recent tweet.

According to CNBC, Hillary Clinton declared on Tuesday that if Donald Trump is elected president, his policies will almost certainly cause a recession. She claims to base this bold assertion off the analysis of multiple economists who identify as both liberal and conservative.

Article continues below advertisement

“Now I don’t say this because of typical political disagreements — liberals and conservatives say Trump’s ideas would be disastrous,” said Clinton. “Economists on the right, the left and the center all agree Trump would throw us back into recession.”

As previously reported by the Inquisitr, Hillary Clinton has accused Donald Trump of exploiting Chapter 11 of the United States Bankruptcy Code. This is the kind of behavior that she believes Trump will attempt as president of the United States.

Blockquote open

“Donald Trump has said he is qualified to be president because of his business record. So let’s take a look at what he did for his businesses: He’s written a lot of books about business. They all seem to end at Chapter 11; go figure.”

Hillary Clinton (Photo by J.D. Pooley/Getty Images)
- Blockquote close
Article continues below advertisement

Though Trump has claimed his use of the bankruptcy code for profit has benefited his employees as well as his own family, Clinton claims that his “debt” strategy has actually resulted in hundreds of people losing their jobs and shareholders losing money. Clinton added that intentionally increasing the national debt would result in no financial gain for anyone living in the United States.

Article continues below advertisement

Donald Trump has also been repeatedly called the “king of debt” for his supposed abuse of these bankruptcy tricks. But the most surprising thing to come from Hillary Clinton’s accusations is Trump’s lack of denial. In the middle of Clinton’s speech, Donald Trump published a tweet owning the “king of debt” label and seemingly acknowledging that his strategy for making money in the business world would be the wrong way to run a country. But he added at the very end of the tweet that he still plans to fix the United States some other way.

According to Reuters, Clinton also explained in her speech that Donald Trump’s plan to simplify the tax code and adjust the corporate tax rate from 15 percent to 35 percent would only benefit wealthy families like his own at the detriment of the working class. In addition to using the “king of debt” label, Hillary Clinton has also been throwing around the term “Trump recession” for the economic catastrophe she believes Donald Trump may cause.


Latest Donald Trump News and Updates

    © Copyright 2023 The Inquisitr. The Inquisitr is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.