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Published On: Fri, Aug 12th, 2016

Donald Trump wants massive infrastructure stimulus, blames President Obama, Hillary Clinton for ISIS

WILFRED FROST: In your businesses, you’ve used leverage in the past. When you look at the shape of the yield curve for U.S.. Treasury debt at the moment, how low interest rates are, is this a moment for the U.S. To borrow and spend in order to stimulate growth that you spoke about infrastructure spending? Are you happy to boost the balance sheets it were of the U.S. economy at the moment?

 photo/ TaxRebate.org.uk

photo/ TaxRebate.org.uk

TRUMP: Well, I’ve always loved leverage. As Becky can tell you. I’ve always, you know, respected leverage but I’ve always loved it. But a country is a different thing. However, with that being said, the interest rates are so low, I mean, the numbers are so low, that yes this is a time to borrow and borrow long-term. So that we have the money and rebuild our infrastructure. We could have the money – we have things we have no choice. Our military is very depleted. Extremely depleted.People don’t like to talk about our military is absolutely depleted from all of the different things we’re doing and nobody knows where they are, who they’re fighting.  I mean, our people don’t know anything. We have people that have no idea — they’re in so many different locations. Nobody knows what’s going on. But the word depletion is the word that keeps getting used. We have to fix our military. We have to take care of our vets.  It’s a disaster what’s going on with our vets. And the veterans administration. We have to fix our infrastructure.  Our country’s infrastructure is in horrible condition. Worst condition it’s ever been in.  Bridges are in — I mean, in dangerous shape. I think 50% of the bridges are actually in dangerous shape. When you think of that, that’s incredible.  Where they could fall. Roads, tunnels, hospitals. I mean, everything. We have to fix the airports. Our airports are like third world countries. You go into some of these beautiful airports, you go into Dubai and you go into different places throughout the world and you see airports that are unbelievable.  That we’ve never had in this country. And then you fly into La Guardia or you fly into LAX. Or you fly into Kennedy, any of them. You fly into these airports, it’s like a third world country. So we have to fix our airports and our transportation system and our trains which are, you know, a hundred years old. We have trains from a hundred years ago. Those are the good ones. And you go to China and you go to these other places and you see the bullet trains. They go hundred miles an hour

QUICK: How do you pay for all that, Mr. Trump?

TRUMP: So we need to fix our country.  We’ve spent so much money in the Middle East.  $4 trillion they’re saying now. That means we spent more than that.  But we’ve spent all this money in the Middle East. And by the way, we are now further away from something happening in the Middle East than if we did nothing. Had we done nothing, we would have been in better shape in the Middle East we spent $4 trillion and maybe even 5 — and we are right now much further away, I mean, like not even close, much worse shape than had we done nothing.

QUICK: How do we pay for that? And is it going to be public money?  Is it private money? And as Wilfred just asked, what level of debt to GDP would you feel comfortable with?

TRUMP: Well, you could have combinations of private money you can even privatize certain things.Basically you’re going out and borrowing money on the United States to rebuild your infrastructure.  It would be infrastructure money and maybe there’s ways of giving additional, you know, credits to people that buy these bonds. Frankly the interest rate would be so low.

QUICK: That sounds a lot like Larry Summers.

TRUMP: Normally you would say you want to reduce your debt. And I would like to reduce debt too as much as anybody. The problem is you have a military problem, you have an infrastructure problem, a tremendous infrastructure problem. And you have other problems. And also, the asset is your rates are so low.  What’s going to happen when the rates eventually will go up and you can’t borrow, you absolutely can’t borrow because it’s too expensive?  It would destroy our balance sheet, totally destroy the balance sheet.  So you’d be paying so little interest right now. This is the time to borrow.

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About the Author

- Roxanne "Butter" Bracco began with the Dispatch as Pittsburgh Correspondent, but will be providing reports and insights from Washington DC, Maryland and the surrounding region. Contact Roxie aka "Butter" at [email protected] ATTN: Roxie or Butter Bracco

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