Our stable genius, according to the new Woodward Book, Fear, had a plan for eliminating the federal debt in 8 years: Print Mo’ Money!
President Trump allegedly suggested to his chief economic adviser last year that the government should print more money to help eliminate federal debt, according to an excerpt from Bob Woodward’s new book.
The veteran Watergate journalist wrote in his new book — “Fear: Trump in the White House” — that Gary Cohn, the now-former top economic adviser, told Trump that the Federal Reserve was likely to increase rates during his first term in office, in an excerpt first reported by Business Insider.
“We should just go borrow a lot of money, hold it, and then sell it to make money,” Trump reportedly said in response.
Cohn was “astounded” by the president’s response, which he reportedly said illustrated a “lack of basic understanding” about how federal debt works.
Trump, who was the president-elect at the time and had promised to wipe out U.S. debt in eight years, reportedly offered a solution: “Just run the presses — print money.”
Gary Cohn has already issued his rebuttal to the book:
“This book does not accurately portray my experience at the White House.”
Which kinda-sorta doesn’t deny anything at all.