president Donald Trump On Sunday, he said that his administration is investigating the American national debt, which indicates that some treasury payments may be fraudulent and “may not be counted.” Speaking on the first air force, Trump said his administration is reviewing debt records to reveal possible financial mismanagement.
It is about 36.2 trillion US dollars, and it exceeds 120 % of the country's gross domestic product, according to what he said. US Treasury. Trump indicated that the treasury payments are currently being reviewed.
He said, “We look at the cabinet.” “There may be a problem – you were reading about it. This may be an interesting problem … Many of these things may be unstable. In other words, some of these things that we find are very fraudulent, and therefore we may have less debts than we were We think.
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Director of the National Economic Council Kevin Haysit CNBC said On Monday, Trump's comments were not about US debt payments, but improper proper payments for contractors and grants.
This raised questions from financial experts because the treasury papers are some of the safest investment tools all over the world.
While Trump suggested that fraudulent payments can inflame the national debt, it argues that the independent budget monitoring that the proposed tax cuts of the administration will add trillion dollars from new debts. the The responsible federal budget committee It is estimated that Trump's tax plans will add $ 7.75 trillion to the expected debt during the fiscal year 2035.
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To help eliminate waste and define fraudulent spending in the federal government, Trump's billionaire soldiers Elon Musk To lead a comprehensive reform of federal government operations. It is said that the newly created government ministry in Musk is reviewing the records of salary and spending statements, which raises the interests of privacy and security.
A federal judge recently prevented the Musk team from accessing data and storing it from some government financial systems, noting the risk of improper detection of sensitive information. Treasury Secretary Scott Al -Rahman He said that the Musk team has access to “only reading” and was unable to make changes to the system.
Besides the speculative fraudulent payments from the treasury, Trump also said that foreign countries play a role in the rise of the debts of the United States, and blaming countries like Mexico and Canada to benefit from the United States in commercial deals.
“We are not rich now. We owe $ 36 trillion. This is because we are left all of these countries to benefit from us.”
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While Trump linked the trade deficit to National debtFinancial experts say the two are a separate issue. The commercial deficit measures the difference between the state's imports and exports, while the national religion reflects government borrowing over time. Treasury data He explains that as of November, Canada and Mexico have witnessed $ 374 billion and 100 billion dollars in US Treasury bonds, respectively.
Trump's investigation at Treasury payments It sparked controversy between economists and legislators. While supporters argue that the definition of wasteful government spending is very important, critics warn that questioning the validity of the treasury payments can destabilize the global financial markets. With the deadline for the roof of the debt, all eyes are on Congress to determine the future of American financial policy.
With the development of this position, financial experts emphasize the importance of distinguishing between legitimate debt obligations and potential efficiency in government spending. Whether Trump's efforts will lead to meaningful discounts in national religion still should be seen.
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This article Trump is investigating the debts of the United States for fraud, noting that the treasury payments “may not count” Originally Benzinga.com
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