Trump Urges Restraint Against Default, Hints at Military Action for Growth

WASHINGTON — In a recent press conference held at Mar-a-Lago, President-elect Donald Trump outlined his administration’s priorities, notably addressing the national debt limit while simultaneously advocating for cuts in spending. He did not shy away from suggesting that military action could be considered to expand U.S. territory.

With his inauguration set for January 20, Trump attributed difficulties in governance to the outgoing Democratic President Joe Biden. “We are inheriting a difficult situation from the outgoing administration,” he stated, expressing disappointment over inflation rates and high interest levels. He emphasized the Biden administration’s attempts to hinder reforms favored by the American electorate.

As Republicans prepare to leverage budget reconciliation, a complex legislative tool, Trump urged a resolution to prevent the nation from defaulting on its debt. He remarked, “I just don’t want to see a default. Nobody knows what would happen if there was a default — it could be 1929, and it could be nothing.” He clarified that raising or suspending the debt limit would not detract from his plans to reduce federal expenses.

On the anniversary of the January 6 Capitol insurrection, Trump reiterated his commitment to pardon those charged in relation to the event. He, however, refrained from specifying whether this would include individuals charged with violent offenses, stating, “We’ll be looking at the whole thing, but I’ll be making major pardons.”

In foreign policy discussions, Trump did not rule out military intervention to regain control over the Panama Canal and Greenland. He acknowledged their importance for U.S. economic security but also noted that he could not provide assurances against using coercion to take those territories. “But I can say this: We need them for economic security,” he added, emphasizing the strategic significance of these locations.

Trump warned that “all hell will break out in the Middle East” if Hamas does not release hostages by the time he returns to office. Additionally, he announced a plan for DAMAC Properties, a Dubai-based firm, to invest $20 billion in the U.S. This investment aims to establish extensive data centers across various states, including Arizona and Texas, fostering advancements in technology and artificial intelligence.

Highlighting his stance on energy, Trump criticized Biden’s recent decision to halt future oil and gas drilling along the East and West coasts, asserting he would “reverse it immediately.” He expressed confidence that increasing drilling operations would lead to lower energy costs, potentially accelerating economic recovery across multiple sectors.

Moreover, Trump vowed to dismantle what he termed an electric vehicle “mandate” and advocated for a cessation of wind energy projects. “We’re going to try and have a policy where no windmills are being built,” he declared, reflecting his commitment to traditional energy sources.

Last updated 4:01 p.m., Jan. 7, 2025