U.S. Republican presidential candidate Donald Trump humorously proposed paying off the $35 trillion national debt with cryptocurrency if elected.
At a fundraising event, Trump stated: “We’ll probably pay off $35 trillion in cryptocurrency. I'll draft a little paper to allocate $35 trillion in cryptocurrency, and that's it – no more debt,” as shared by Bitcoin Magazine on YouTube.
Trump highlighted the promising future of cryptocurrency in his remarks.
The Wall Street Journal reported on October 30 that both Democratic and Republican parties have largely overlooked the growing national debt and budget issues.
On July 29, the U.S. House of Representatives' budget committee announced that the national debt had reached a record $35 trillion.
The International Monetary Fund (IMF) has expressed concern over the rising U.S. national debt, identifying it as a potential threat to the global economy.
Projections indicate that by 2032, U.S. national debt could surpass 140% of GDP.
The IMF recommended that U.S. policymakers explore measures such as raising indirect taxes and gradually increasing income taxes to address the fiscal issue.
