Republican presidential front-runner Donald Trump has some interesting plans for U.S. debt. They could lead to nothing short of a global financial disaster.
In an interview Thursday, the billionaire businessman suggested that in order to lighten the American debt load, he would refuse to pay creditors back. Those holding U.S. Treasury bonds would have to negotiate repayment with the United States in an attempt to get a “haircut” — a term for creditors being paid back less than what they initially loaned. READ MORE