'Because now I'm not president': Trump admits to hypocrisy after encouraging U.S. default

During his town hall in New Hampshire on Wednesday, former President Donald Trump suggested the United States should actually default on its debt — an unprecedented action economists have warned would be catastrophic for the entire world economy — and then freely admitted that he only thinks this now because he isn't the one in the White House.

"We have to get the country back," said Trump. "Interest rates are through the roof. Energy has to come down, it all has to come down and we have to start paying off debt. But when we have a debt limit, and they use that very seriously. Schumer came in with Nancy Pelosi, and they were using, we'll violate it, we'll do whatever — they talked a whole lot different than they do right now. If they don't give you massive cuts, you're going to have to do a default, and I don't believe they're going to do a default because I think the Democrats will absolutely cave, because you don't want to have that happen, but it's better than what we're doing right now because we're spending money like drunken sailors," Trump said during the event.

"Just to be clear, Mr. President, you think the U.S. should default if the White House does not agree to the spending cuts Republicans are demanding?" asked moderator Kaitlan Collins.

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"We might as well do it now than do it later, because our country is dying," said Trump. "Our country is being destroyed by stupid people, very stupid people."

"You once said using the debt ceiling as a negotiating wedge could not happen," Collins pointed out.

"Sure, that's when I was president," said Trump.

"So why is it different now when you're out of office?" she pressed him.

"Because now, I'm not president," said Trump.