Trump indicates he has no idea how the national debt works

Trump indicates he has no idea how the national debt works

Donald Trump appeared on Sean Hannity's Fox News Channel show tonight and took a victory lap in his battle with the NFL and players taking a knee during the national anthem.

The Republican tax plan unveiled last week calls for as much as $6 trillion in tax cuts that would sharply reduce federal revenues. "And yet, we picked up 5.2 trillion just in the stock market", Trump said during an interview on Fox News". Possibly picked up the whole thing in terms of the first nine months.

"So you could say, in one sense, we're really increasing values". And no, that stock market rally did not reduce or offset the national debt either. "But we're very honored by it", Trump said.

Please note: This is a commentary piece. (Or at least he didn't seem to know it in his interview with Hannity.) That's concerning, particularly because Trump ran on his business savvy - and his ability to make America rich because he could work the markets and the financial sector better than anyone.

If the economy grows, the debt can grow too, and that's fine.

"The stock market's gains have virtually nothing to do with the size of the national debt, which continues to rise because government spending far exceeds government receipts", political economist Greg Valliere told CNNMoney. The stock market has nothing to do with the debt.

But higher stock prices reflect corporate profits.

Trump also overreads the 3.1% second-quarter GDP growth figure, about which he brags constantly. But under the Obama Administration that same index rose 235%. In the policy area where Trump has taken the most action - immigration - his actions are likely to push growth downward. "Nobody knows debt better than me", Trump said on CBS in June 2016.

Related Articles

  • Passing The Cisco CCNA Certification Exam Guide

    The course develops your knowledge and skills according to the digital era, which helps in getting evolution in the network. 3. This will also help in building up the required aptitudes the course requests. · Bifurcate what is important to learn.
    Spain crashed returning from the parade fighter

    Spain crashed returning from the parade fighter

    Thursday's parade saw the participation of 3,900 military personal, along with 78 different aircraft, including four Eurofighters. The crash reportedly took place near a public park, just south of Albacete called La Pulgosa.
    Did Shahid Kapoor watch Padmavati trailer in advance?

    Did Shahid Kapoor watch Padmavati trailer in advance?

    According to reports, the stars of the film are getting a heavier pay cheque but Deepika Padukone takes the highest remuneration. Agitations against the maker and regarding the subject of the film, is still being continued by different group of protesters.
  • Oxford racing ahead of London to become 'world's first zero-emissions zone'

    Despite NO2 levels dropping by 36.9 per cent across Oxford, certain parts of the city centre are still highly polluted. It is hoped these improvements to infrastructure will support the introduction of the Zero Emission Zone.
    Samsung's Star Wars themed robot vacuums are the droids you're looking for

    Samsung's Star Wars themed robot vacuums are the droids you're looking for

    FullView Sensor™ 2.0 allows the unit to clean around home decorations and valuable personal items as small as 10mm. You can preorder both now at the Samsung website; the estimated ship date is November 5th at the time of writing.
    Delhi CM Arvind Kejriwal's Maruti Suzuki WagonR Stolen

    Delhi CM Arvind Kejriwal's Maruti Suzuki WagonR Stolen

    In the more recent times though, Kejriwal moved on to the last generation Toyota Innova as his daily driver instead of the WagonR. More details about the theft are awaited.
  • Check Out Which Casino is Best For You With No Deposit Bonuses

    Check Out Which Casino is Best For You With No Deposit Bonuses

    Everyone has to start somewhere, and if you or another first-time player makes a mistake, you would not expect criticism. All the games have rules to follow and there are plenty of online resources that will teach you how to play them.

    Myths about learning English

    For example, you can fulfill the exercise online and it’s better than to write it and it shows your mistakes automatically. And again- the motivation is the key! The myth#3: the residence in another country guarantees you the language learning.
    Eminem demolishes Donald Trump in freestyle rap

    Eminem demolishes Donald Trump in freestyle rap

    The track is named after the suggestive remarks Donald Trump made last week whilst he was photographed with military leaders. Kendrick Lamar, who triumphed at the latest MTV Video Music Awards, came in a close second with four trophies.
  • Aerie Pharmaceuticals Scores Relative Strength Rating Upgrade

    Aerie Pharmaceuticals Scores Relative Strength Rating Upgrade

    On a one to five ratings scale where 1.0 indicates a Strong Buy, 2.0 indicates a Buy, 3.0 a Hold, 4.0 a Sell and 5.0 a Stong Sell. Also, there are 1 buy, 0 sell and 0 strong sell ratings, collectively assigning a 1.5 average brokerage recommendation.
    Richard Branson's Virgin Group invests in Hyperloop One

    Richard Branson's Virgin Group invests in Hyperloop One

    Shervin Pishevar, co-founder and executive chairman of Hyperloop One, said the partnership "feels like a natural fit". Its tracks use magnetic levitation and the pod glides at airline speeds for long distances.

    Las Vegas Sands Corp (NYSE:LVS) Institutional Investor Sentiment

    The sales growth rate for a stock is a measure of how the stock's sales per share (SPS) has grown over a specific period of time. On Thursday, March 17 the stock rating was downgraded by Standpoint Research to "Hold". (NYSE:LVS)'s near-term growth potential.