Trump Reveals He Doesn't Understand How The National Debt Works

President Trump on national debt on Fox News with Sean Hannity. (Photo credit Fox News / Twitter)

In a Fox News interview Wednesday, President Trump bragged of gains in the stock market. Then he suggested his administration was "in a sense reducing (national) debt."

"The country -- we took it over and owed over 20 trillion. As you know the last eight years, they borrowed more than it did in the whole history of our country. So they borrowed more than $10 trillion, right? And yet, we picked up 5.2 trillion just in the stock market."


"Possibly picked up the whole thing (national debt) in terms of the first nine months, in terms of value. So you could say, in one sense, we're really increasing values. And maybe in a sense, we're reducing debt. But we're very honored by it."

Trump appeared to suggest that stock market gains lead to a reduction in the country's national debt. But that isn't how it works. That isn't how money works.

And it wasn't just a momentary gaffe. President Trump made the same claim earlier that afternoon in his tax reform speech in Harrisburg, Pennsylvania.

Very proudly, just in the stock market alone, we have increased our economic worth by $5.2 trillion, that’s right, since Election Day. $5.2 trillion. Think about that, that’s a quarter of the $20 trillion that we owe.”

Critics have been citing Trump's business record since he announced his candidacy. Over-leveraged, multiple bankruptcies, and routinely trying to cut costs by refusing to pay contractors what he owed, it is a matter of public record that Donald Trump struggled with finances in his private-sector life. He also has the dubious distinction of losing money running a casino.

Trump is now in the White House where his financial actions are on international display. That added scrutiny may provide a better window into why he had so many failures in the business world.

This apparent lack of financial understanding comes after a prominent Republican also pointed out Trump's inadequacies in foreign policy and not knowing how diplomacy or national security work.

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Republican Governor Ron DeSantis immediately took steps to undermine the public will by signing into law a bill that would only restore voting rights to felons who fully pay all fees and fines imposed after leaving prison.

Under Florida law, court debts left unpaid after three months are referred to private debt collectors, who can then tack on a surcharge of up to 40%.

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A day after Senators took an oath of impartiality in the impeachment trial against President Donald Trump, the President eagerly announced the team of lawyers who will be defending him.

Two names on the list stood out.

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Now that the impeachment articles have been transferred to the U.S. Senate and Senators have been sworn in as jurors, Donald Trump's Senate impeachment trial is officially underway.

And while it's adjourned for the long weekend, the White House just announced their legal team, and it's a doozy.

In addition to lead attorneys Pat Cipollone and Jay Sekulow, Trump's legal team will consist of five additional lawyers who are expected to have speaking roles on the Senate floor throughout the trial:

  • Robert Ray
  • Alan Dershowitz
  • Ken Starr
  • Jane Raskin
  • Pam Bondi
Yep, you read that right, Ken Starr, of Clinton impeachment infamy.

And none other than Monica Lewinsky herself weighed in with a reaction that was relatable AF:

Many were here for it and had Lewinsky's back.





But doesn't that sentiment pretty much define every day?



And how is that going to. go for Starr?

Fair:

Can we make this happen, please?


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Fox News

Far-right television personality Sean Hannity is a crucial part of Fox News' evening efforts to spin reality in favor of President Donald Trump.

On Wednesday night, that required Hannity to dismiss Lev Parnas, the right hand man of the President's personal lawyer, Rudy Giuliani.

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Maine's senior Senator, Republican Susan Collins, trended on Twitter Wednesday.

But with the reason why, Collins' 2020 senatorial campaign probably wished she hadn't.

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