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Clinton: 'king of debt' Trump would rig economy for Wall Street – campaign live | Clinton: 'king of debt' Trump would rig economy for Wall Street – campaign live |
(35 minutes later) | |
6.05pm BST | |
18:05 | |
As Clinton spoke, Trump tweeted away: | |
Hillary says this election is about judgment. She's right. Her judgement has killed thousands, unleashed ISIS and wrecked the economy. | |
Hillary Clinton surged the trade deficit with China 40% as Secretary of State, costing Americans millions of jobs. | |
How can Hillary run the economy when she can’t even send emails without putting entire nation at risk? | |
Hillary Clinton’s open borders immigration policies will drive down wages for all Americans - and make everyone less safe. | |
Obama-Clinton inherited $10T in debt and turned it into nearly $20T. They have bankrupted… https://www.instagram.com/p/BG7IYzumhZw/ | |
I am "the king of debt."That has been great for me as a businessman, but is bad for the country. I made a fortune off of debt, will fix U.S. | |
5.58pm BST | |
17:58 | |
Clinton concludes with a thought experiment. Imagine Trump as president when “your jobs and savings are at stake”. | |
Clinton: | |
We can’t let him bankrupt America like we are one of his failed casinos. We can’t let him roll the dice with our children’s futures. | |
Just imagine if you can, Donald Trump sitting in the Oval Office, the next time America faces a crisis. Imagine him being in charge when your jobs and savings are at stake... someone thin-skinned and quick to anger, who’d likely be on Twitter attacking reporters, or bringing the whole regulatory system down on critics? | |
Would he even know what to do? | |
Donald Trump believes in the worst of us. He thinks we’re fearful not confident. ... He thinks the only way forward is to go back to a past prosperity... | |
In fact the only way forward is forward. | |
Clinton’s done. Cue Rachel Platten. | |
Updated | |
at 5.58pm BST | |
5.56pm BST | |
17:56 | |
Clinton: Trump has 'one move' | |
Clinton says he intentionally ran up debt, bankrupting his companies four times, and defaulting. “I play with bankruptcy,” Trump has said. | |
Clinton quotes him and replies: | |
Everything seems to be a game with him... in Atlantic city, he put his names on buildings, his favorite thing to do... when his casino and hotel went bankrupt because of how badly he mismanaged them, he still walked away with millions. | |
She quotes him again: “Atlantic City was a very good cash cow for me for a very long time.” Clinton replies, “remember that the next time you see him on TV. | |
He’s doing the exact same thing he’s been doing for years. This is his one move. He makes over-the-top promises... and then everything falls apart, and people get hurt. Those promises you’re hearing from him at his campaign rallies, those are the same promises he made to his customers at Trump university. | |
The same people he’s trying to get to vote for him are the people he’s been exploiting for years... It’s working people. He’s been involved in more than 3,500 lawsuiots in the last 30 years... a lot of them small businesses.. that never got paid. | |
Not because he couldn’t pay them, but because he could stiff them. Sometimes he offered them 30 cents on the dollar... hundreds of liens have been filed against him. | |
Clinton gives voice to the “painters, plumbers” working people stiffed by Trump: “I worked for him. I did my job. He wouldn’t pay me what he owed me.” | |
Clinton continues: | |
No this is not normal behavior. There are great business people here in Ohio, in America... they want to build something that lasts. They’re decent, they’re honest... and they would never dream of acting the way Donald Trump does. | |
In America, we don’t begrudge people being successful, but we know people shouldn’t do it by destroying other people’s dreams. | |
5.53pm BST | |
17:53 | |
Clinton: Trump's books about business 'all seem to end at Chapter 11' | |
Clinton cuts loose a line: “He’s written a lot of books about business. They all seem to end at Chapter 11.” | |
Clinton grants Trump his nickname “king of debt”: | |
The king of debt has no real plan for making college debt payable back... he has no credible plan for rebuilding our infrastructure apart from the wall he wants to build. Personally I’d rather spend the money rebuilding our schools... he has no ideas on how to strengthen Medicare or expanding social security..he has no real strategy for creating jobs... But then maybe we shouldn’t expect better from someone whose most famous words are ‘you’re fired’. | |
He has not clean energy plan..he just says climate change is a hoax invented by the Chinese. Well... it is a lot easier to say a problem doesn’t exist than it is to actually try to solve it. | |
She also says he has no plan to address generational poverty in rural and urban communities. | |
In the heat of a campaign... it is tempting to give simple answers to complex problems. Believe me I have been tempted. But I am not going to do that. | |
I think Donald Trump has said he’s qualified to be president because of his business record... Let’s take a look at what he did in his business. He’s written a lot of books about business. They all seem to end at Chapter 11. Go figure. | |
Updated | |
at 6.10pm BST | |
5.42pm BST | |
17:42 | |
“Trump’s own products are made in a lot of countries that aren’t named America,” Clinton says. She lists Trump ties, Trump suits, Trump ties, Trump picture frames, Trump barware. | |
I’d love for him to explain how that fits with all his talk about America first. I honestly believe that the difference between us is not just about policy. We have fundamentally different views about whether America is strong or weak... Donald Trump never misses a chance to say that Americans-- he’s talking about us – are losers, and the rest of the world is laughing at us. | |
Just the other day, he told a crowd that America quote ‘is not going to survive’. I don’t know what he’s talking about. | |
In her travels as secretary of state, she says, she saw envy of America around the world. | |
Updated | |
at 6.08pm BST | |
5.38pm BST | 5.38pm BST |
17:38 | 17:38 |
Fifth, Trump on trade. | Fifth, Trump on trade. |
Clinton says “we should renegotiate trade deals that aren’t working” and reject new deals such as the Trans-Pacific Partnership.” | Clinton says “we should renegotiate trade deals that aren’t working” and reject new deals such as the Trans-Pacific Partnership.” |
And here Clinton sounds like Trump: | And here Clinton sounds like Trump: |
When China dumps cheap steel.. or manipulates currency, we need to respond forcefully. | |
Updated | |
at 5.43pm BST | |
5.37pm BST | 5.37pm BST |
17:37 | 17:37 |
Clinton: the USA 'doesn’t do business Trump’s way' | Clinton: the USA 'doesn’t do business Trump’s way' |
Clinton runs through what she says are the main weaknesses of Trump’s economic plan. | Clinton runs through what she says are the main weaknesses of Trump’s economic plan. |
First, there’s his plan for Wall Street. | First, there’s his plan for Wall Street. |
He says he wants to wipe out the tough rules we put on banks... he also wants to repeal the consumer financial protection bureau [Senator Warren’s watchdog agency]. Trump would take us back to where we were before the crisis. He’d rig the economy for Wall Street again. Well that will not happen on my watch, I can guarantee you. | |
Clinton says she would veto any effort to roll back financial regulations and seek to strengthen them. | Clinton says she would veto any effort to roll back financial regulations and seek to strengthen them. |
Second, his approach to the national debt. | Second, his approach to the national debt. |
He calls himself the king of debt and his tax plan lives up to the name. | |
Clinton cites a study showing Trump’s tax plan would drive up the debt by trillions. She quotes him saying, “I would borrow, knowing if the economy crashed, you could make a deal.” | Clinton cites a study showing Trump’s tax plan would drive up the debt by trillions. She quotes him saying, “I would borrow, knowing if the economy crashed, you could make a deal.” |
The full faith and credit of the United States is not something we just gamble away. That could cause an economic catastrophe. And it would break 225 years of ironclad trust that the American economy has with AMericans and with the rest of the world. Alexander Hamilton would be rolling in his grave. You see we pay our debts. | |
She quotes Ronald Reagan about America’s reputation. | She quotes Ronald Reagan about America’s reputation. |
Maybe Donald feels differently because he made a fortune filing bankruptcies and stiffing creditors. But the United States of America doesn’t do business Trump’s way. And it matters when a candidate talks like this.... even suggesting that the United States would default would cause a global panic. | Maybe Donald feels differently because he made a fortune filing bankruptcies and stiffing creditors. But the United States of America doesn’t do business Trump’s way. And it matters when a candidate talks like this.... even suggesting that the United States would default would cause a global panic. |
She says Trump’s plan to print money is like Germany in the 20s or Zimbabwe in the 90s. “It drove inflation through the roof and crippled the economy. The AMerican dollar is the safest currency on the planet. Why would he want to mess with that? We can’t let these loose careless remarks get any credence.” | She says Trump’s plan to print money is like Germany in the 20s or Zimbabwe in the 90s. “It drove inflation through the roof and crippled the economy. The AMerican dollar is the safest currency on the planet. Why would he want to mess with that? We can’t let these loose careless remarks get any credence.” |
Third, Trump’s tax plan. | Third, Trump’s tax plan. |
Clinton starts playfullly: | Clinton starts playfullly: |
You know when I was working on this speech... I’d have my researchers send me information, and then I’d say, really? He really said that? And they’d send me all the background... so here it goes. | You know when I was working on this speech... I’d have my researchers send me information, and then I’d say, really? He really said that? And they’d send me all the background... so here it goes. |
Clinton says Trump would give millionaires a $3t tax cut. Corporations would get $2t more dollars. Before releasing his plan, Trump said hedge fund-ers would pay more. But his plan “makes the current loophole even worse,” Clinton says. | Clinton says Trump would give millionaires a $3t tax cut. Corporations would get $2t more dollars. Before releasing his plan, Trump said hedge fund-ers would pay more. But his plan “makes the current loophole even worse,” Clinton says. |
Trump would get a tax cut under his plan, Clinton says: | Trump would get a tax cut under his plan, Clinton says: |
But we don’t know exactly how much because he won’t release his tax returns. Every major presidential candidate in the last four decades has shown the American people their taxes... | But we don’t know exactly how much because he won’t release his tax returns. Every major presidential candidate in the last four decades has shown the American people their taxes... |
You have to ask yourself, what’s he afraid of? Maybe that he hasn’t paid taxes on his huge income? ... Or maybe he isn’t as rich as he claims? Or that he hasn’t given away as much to charity that he brags about. | You have to ask yourself, what’s he afraid of? Maybe that he hasn’t paid taxes on his huge income? ... Or maybe he isn’t as rich as he claims? Or that he hasn’t given away as much to charity that he brags about. |
Whatever the reasons, Americans deserve to know before you cast your votes this November. | Whatever the reasons, Americans deserve to know before you cast your votes this November. |
Fourth, Trump on jobs. | Fourth, Trump on jobs. |
Clinton says Trump’s deportation and wall-construction policy could cause a recession. | Clinton says Trump’s deportation and wall-construction policy could cause a recession. |
“This policy is not only wrong-headed and unachievable, it is really bad economics.” She says expelling 11m people would cost a lot and shrink the economy. | “This policy is not only wrong-headed and unachievable, it is really bad economics.” She says expelling 11m people would cost a lot and shrink the economy. |
Updated | |
at 5.43pm BST | |
5.27pm BST | 5.27pm BST |
17:27 | 17:27 |
Clinton: 'Trump would throw us back into recession' | Clinton: 'Trump would throw us back into recession' |
Economists of all political stripes agree, Clinton says: “Trump would throw us back into recession.” | Economists of all political stripes agree, Clinton says: “Trump would throw us back into recession.” |
She says a former McCain economic adviser estimated Trump’s policies would increase unemployment and debt and tank the stock market. | She says a former McCain economic adviser estimated Trump’s policies would increase unemployment and debt and tank the stock market. |
Clinton: | Clinton: |
Every day we see how reckless and careless Trump is. He’s proud of it. Well that’s his choice. Except when he’s asking to be our president. Then it’s our choice. | Every day we see how reckless and careless Trump is. He’s proud of it. Well that’s his choice. Except when he’s asking to be our president. Then it’s our choice. |
Donald Trump actually stood on a debate stage ....and said that wages are too high in this country... he said and I quote, having a low minimum wage is not a bad thing for this country... | Donald Trump actually stood on a debate stage ....and said that wages are too high in this country... he said and I quote, having a low minimum wage is not a bad thing for this country... |
Back in 2006... Trump said... “I sort of hope that the housing market crashes” because he’d make money off of all the foreclosures. | Back in 2006... Trump said... “I sort of hope that the housing market crashes” because he’d make money off of all the foreclosures. |
...He has said all kinds of things about women in the workforce. [Calling women employees “an inconvenience”.] | ...He has said all kinds of things about women in the workforce. [Calling women employees “an inconvenience”.] |
He clearly doesn’t know much about how we have grown the economy over the last 40 years, which is largely thanks to women getting into the workforce and adding to family incomes. | |
Clinton says that abolishing Obamacare, as Trump wishes to do, would hurt families and the economy. | Clinton says that abolishing Obamacare, as Trump wishes to do, would hurt families and the economy. |
Updated | |
at 5.43pm BST | |
5.21pm BST | 5.21pm BST |
17:21 | 17:21 |
Clinton: Trump 'shouldn’t have his hands on our economy' | Clinton: Trump 'shouldn’t have his hands on our economy' |
Clinton: | Clinton: |
Today I want to talk about what Donald Trump is promising to do to the economy. After more than a year it’s important that he be held accountable for what he says he’ll do as president. | Today I want to talk about what Donald Trump is promising to do to the economy. After more than a year it’s important that he be held accountable for what he says he’ll do as president. |
A few weeks ago I said his foreign policy proposals and reckless statements represent a danger to the national security... it turns out, he’s dangerous [in business and the economy] too. | A few weeks ago I said his foreign policy proposals and reckless statements represent a danger to the national security... it turns out, he’s dangerous [in business and the economy] too. |
Just like he shouldn’t have his finger on the button, he shouldn’t have his hands on our economy. | Just like he shouldn’t have his finger on the button, he shouldn’t have his hands on our economy. |
5.18pm BST | 5.18pm BST |
17:18 | 17:18 |
Clinton takes a swipe at Trump. She says her web site summarizes her economic plan, and: | Clinton takes a swipe at Trump. She says her web site summarizes her economic plan, and: |
I do admit, it is a little wonky, but I have this old-fashioned idea that if you’re running for president, you should say what you want to do, how you’re going to pay for it and how you’ll get it done. | I do admit, it is a little wonky, but I have this old-fashioned idea that if you’re running for president, you should say what you want to do, how you’re going to pay for it and how you’ll get it done. |
I actually sweat the specifics because they matter. | I actually sweat the specifics because they matter. |