Donald Trump Wants The U.S To Declare Bankruptcy | The Odyssey Online
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Politics

Donald Trump Wants The U.S To Declare Bankruptcy

"I will do for America what I have done for Business"

Akash patel
Aug 16, 2016
Loyola University Chicago
356
Donald Trump Wants The U.S To Declare Bankruptcy
NBC News

United States should declare bankruptcy.

Trump thinks that the U.S should be run like a business. If his past businesses are any indication of how he runs business this means there is a chance the U.S has a bankruptcy in the near future. Here is a quick list of failed Donald Trump business endeavors.

1. 1991: Trump Taj Mahal 1 Billion in debt.

Trumps first journey to the bankruptcy court came in 1991, when he decided to finance his Atlantic City casino with staggeringly high, HUGE interest rate of 14%. And so after taking out a small loan of about a billion dollars, all didn't go according to the plan for Donald, so he decided he wanted Mexico to pay for it. When that didn't happen he went to bankruptcy court.


2. 1992: Trump Plaza Hotel declares bankruptcy.

The old Donald just couldn't stay out of the bankruptcy court. Only a year after screwing over hundreds of investors, he was back in the dog house for yet another Atlantic City property disaster. The TRUMP PLAZA HOTEL AND CASINO. This time he defaulted on $550 million in debt.

3. 2004: Trump Hotels and Casinos Resorts declares bankruptcy, again.

Another decade, another bankruptcy. This time on 1.8 billion dollars, his largest one yet.

4. 2009: Trump Entertainment Resorts missed a 53 million bond payment.

Two bankruptcies per decade seems to be the theme of the game for Mr. Trump. So he had to get another one in before the decade was over. In 2009 Trump Entertainment Resorts, which was formed as a result of the former bankruptcies, filed for bankruptcy.

5. 2016: United States of America


In an interview with CNBC in march of 2016, Donald Trump said that " I would borrow, knowing that if the economy crashed, you could make a deal, and if the economy was good, it was good. so therefore, you cant lose." In this statement Mr. Trump revealed his insanely dangerous views on the National Debt. Declaring bankruptcy might make sense for a business but doing so with the worlds largest economy would cause chaos in the world financial markets.

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This article has not been reviewed by Odyssey HQ and solely reflects the ideas and opinions of the creator.
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