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

Jake Tapper uses Harvey Weinstein scandal to bash Trump and Sean Hannity

Yes, you're right in thinking this isn't the usual way an interview between a journalist and a politician goes. In terms of value.

What Trump is suggesting here is that because of the gains in the stock market - which have absolutely happened - the national debt is being reduced. "But we're very honored by it", Trump said.

That's, um, not how this works.

While it's true that USA stock market indexes have risen markedly during Trump's time in office, the current gains are part of a bull market that began in the spring of 2009, when the country began to recover from the Great Recession and the collapse of the housing market.

Of course, this is a gross overread of the stock market rally.

In terms of stock market gains, Trump is accurate about the increase, although the exact figure could be up for debate.

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The stock market, broadly speaking, measures wealth being created (or lost) by large corporations and investors in those companies. As of October 10, the USA owes over $20 trillion in debt, a slight increase from January. There are two ways to reduce the debt: Raise taxes or reduce government spending.

"They sat in a room and they said, 'Wow, we look bad.' The morning after - in fact it's been written about in various books or a book - but they said, 'Why did you lose the election?' 'Ah, it was Russian Federation!"

Donald Trump accused on Wednesday the Democratic camp of using the alleged Russian Federation collusion claim to justify their poor performance in the 2016 presidential election.

Trump seems not to know any of that.

He also touted his understanding of debt during the campaign.

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". "I mean, that's a smart thing, not a stupid thing".

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