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techkenyot.com October 21, 2017


Trump Makes Puzzling Claim That Stock Market Gains Have Reduced The Debt

12 October 2017, 07:08 | Glen Norman

Hannity to interview Trump in Harrisburg tonight; here's how to watch

Former White House strategist Steve Bannon takes part in an interview with host Sean Hannity on the set of Fox News Channel's “Hannity” in New York on Monday. AP

Yes, you're right in thinking this isn't the usual way an interview between a journalist and a politician goes. What matters is Trump's answer. "Russian Federation was an excuse used by the Democrats when they lost the election", Trump told Fox News' Sean Hannity on Wednesday.

The Republican tax plan unveiled last week calls for as much as $6 trillion in tax cuts that would sharply reduce federal revenues. "Possibly picked up the whole thing in terms of the first nine months, in terms of value". In terms of value. "We are very honored by it and very, very happy by what's happening in Wall Street". As CNBC details, to see why this doesn't make sense, consider the relationship (or lack thereof) between the stock market and debt during the Obama administration.

That's, um, not how this works. "In zero sense does a stock market rally, which enriches corporations and investors and shareholders, translate into American taxpayers and the national debt".

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The stock market, broadly speaking, measures wealth being created (or lost) by large corporations and investors in those companies.

The national debt, which he correctly states is $20 trillion, is the result of the government spending more than it takes in. What matters is whether the government has a debt it can reasonably service. A bull stock market is not one of those two options.

Trump has made few policy changes, and none that seem likely to boost productivity or reverse the demographic trends that have driven slow growth.

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The US President Donald Trump said on Wednesday in a televised interview that the alleged Russian meddling in 2016 presidential campaign was merely an excuse introduced by the Democratic party to justify their suffered political defeat.

I assume he thinks it's like a real-estate investment: If you have a $50 million mortgage on a building, and its value rises from $80 million to $100 million, you have deleveraged without paying your debt down at all. I'm great with debt. "They are going up, and some are already finished, and I will say they are really looking good".

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