Trump’s Treasuries Fraud Remark Was on Payments, Not Debt, Hassett Says
I mentioned the initial news this morning so here’s an update
Bloomberg reports:
President Donald Trump’s weekend comments regarding irregularities in Treasury payments were a reference to billionaire Elon Musk’s claims that the government had made improper transfers to contractors and grant recipients — not an expression of concern about payments to bondholders, the president’s top economic adviser said Monday.
“The Treasury secretary has found that the controls for spending of the previous administration were unacceptable, that they were sending money out without knowing where the money was going,” National Economic Council Director Kevin Hassett said during an interview with CNBC. “They were sending money out without flagging what it was for.”
The president on Sunday told reporters that there was a “problem” at the Treasury Department and indicated the US government might disregard some payments, sparking concern that he was talking about US government debt.
I was so concerned I dumped some stuff to be safe. It looks like there wasn’t problem with bond coupon payments. But better safe than sorry.