Trump wishes to eliminate deficit spending and pay down the national debt “big league” through cuts in government spending (particularly on the Departments of Education and Environmental Protection) and an increase in US productivity.
NOLL: “And I travel across the country and teach kids about saving money. Which is hard! Our government doesn't, isn't even fiscally responsible. So, I'm asking every single candidate, and I've been waiting to ask you...”
TRUMP: “In particular.”
NOLL: “Oh yeah, of course. So, specifically, what are you gonna do about the $18 trillion deficit?”
TRUMP: “Alright. Well, what we're going to do, I mean we do, and by the way it's not $18 trillion, it's now $19 trillion. So we have now $19 trillion in deficits. $19 trillion, you know if you look, we owe! When I say that, we owe, this is what you're talking about, we owe $19 trillion as a country. And we're gonna knock it down and we're gonna bring it down big league and quickly, we're gonna bring jobs back, we're gonna bring business back, we're gonna stop our deficits, we're gonna stop our deficits, we're gonna do it very quickly.”
MANY IN AUDIENCE: “HOW?”
(0:23 – 2:11)
TRUMP: “Oh, how! Are you ready? Number 1, we have tremendous cutting to do. You have a Department of Education that is totally out of control, massive costs. And, you know, most of the, and some of the Republican candidates like Common Core. I'm totally against Common Core. I want local education. When I'm in New Hampshire and Iowa and South Carolina, I want – so important. So we're gonna have that.
We're gonna save on Department of Environmental Protection, because they're not doing it. They're not doing their job, and they're making it impossible for our country to compete. And many, many other things. Hundreds of billions of dollars is going to be saved, just in terms of running government.
In addition to that, I'm gonna bring millions of jobs back into this country. Okay, darling? Thank you.”
Clinton sees a rising debt liability as a national security issue, limiting the capabilities of the US and causing it to appear weak internationally.
(0:12 – 0:37)
“I think that our rising debt levels poses a national security threat. And it poses a national security threat in two ways. It undermines our capacity to act in our own interests and it does constrain us, where constraint may be undesirable. And it also sends a message of weakness internationally.”
“There’s just a pattern here, where the other side continues to use the same old tired policies. They don’t work and then Democrat presidents have to come in and fix what was broken. I have this old-fashioned idea that, you know, you ought to look at the evidence and if you look at the evidence at the end of Bill Clinton’s two terms, we had the longest peace-time expansion in American history, with 22 million new jobs, a balanced budget and a surplus that would have paid off our national debt had they not been so rudely interrupted by the next administration.”