“The country, we took it over in 20 trillion 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 in terms of the first nine months. In terms of value. So you can say in one sense, we are really increasing values and may be in a sense, we are reducing debt. We are very honored by it and very, very happy by what’s happening in Wall Street.”
— Donald Trump in Hannity Interview
The self-proclaimed king of debt argues that since the stock market rose by $5 trillion, that somehow offsets the national debt.
The stock market enriches corporations and investors. The national debt is carried by the people. You can reduce debt by spending less, or raising taxes, neither of which Trump is suggesting. He is pounding on Obama for increasing the debt, yet his proposed tax cuts are bound to skyrocket the debt.
That’s just not how it works, Mr. President. Trying to dumb America down some more?
And Hannity, thanks for the “tough” question. Definitely dumbing down America.
One thought on “The King of Debt Speaks his Wisdom”
Too bad people can’t collateralize their home or business loans with their current stock market holdings.