Renegotiate My Foot.

       If Donald Trump is president he will renegotiate our nation's debt. Ya know how crazy that is? He goes to all our creditors and tells them we owe them 20% less than we do. And we will pay less in interest on those debts. And if they don't like it, we'll cancel the debt entirely. Why? How can we do it? Because Trump says we can and there's nothing they can do about it.
       Nothing they can do about it? Well for starters they could say okay but the next time we go looking to borrow anything we'd be out of luck. They'd also step back from any cooperation with America. But the thought of being unable to borrow money when we needed it would be crippling. We'd have to cut funding to everything. Foreign aid (peanuts), all entitlements (a drop in the bucket), school aid (Small change), but then we'd have to cut defense (now we're talking), and then we'd have to increase taxes on everybody (OMG).
       Ya see, in business you can demand to renegotiate a company's debt and get away with it because you can always declare bankruptcy. That way you get to cut your indebtedness and start fresh. But America isn't a business, its a country. And America is renowned for being honest and trustworthy all around the world. Our word is our bond. No matter if another country hates our guts, they know they can trust us to keep our word, friend or foe.
       That's why we are the monetary standard of the World. China wants to hold that title, but America is more trustworthy. Being the monetary standard for the world gives us prestige and financial opportunities not available to anyone else. You wouldn't really want to give up such a lucrative advantage now would you? Because if you did, we'd wind up paying even higher taxes, maybe a lot higher taxes, even after cutting out all those budgetary extras.