Published: Fri, October 13, 2017
Global Media | By Meredith Barber

Trump just claimed stock market gains actually offset national debt

Trump just claimed stock market gains actually offset national debt

Major stock market indexes have also steadily soared in that time, but they have not yielded the amount of increased economic growth and federal tax receipts that would be necessary to begin reducing federal debt. But what's even more disturbing is, one of the things we do know Sean Hannity is doing with the president during these phone calls, and during the times when they've met personally, Sean Hannity is giving advice to the president on how to run the country.

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. So you can say in one sense, we are really increasing values and may be in a sense, we are reducing debt. Gains in the market, which are pocketed by investors, do not directly reduce the federal debt, which is how much the government owes on its borrowings.

"We can't let anybody play around with our voters and our voter system", Trump said. "We've got to get the wall, we've got to stop people from coming into this country".

According to an incredible report in Vanity Fair on Wednesday, the President "hates everyone in the White House" and his aides fear he is "unravelling".

Trump is right that the stock market has added trillions in value since his election. Like families, nations accrue debt when they spend more money than they take in. There are two ways to reduce the debt: Raise taxes or reduce government spending. "It [stock market gains] reflects a stronger underlying economy that will eventually help reduce the national debt through higher tax revenues but there is just no connection". Gross debt, CRFB notes, rose $9.3 trillion under Obama, from $10.6 trillion to $19.9 trillion, although Obama alone isn't responsible for the increased debt. When he left office this past January, the US owed approximately $19.9 million.

Mr Trump's apparent ignorance of the custom follows weeks of condemnation from the 71-year-old about NFL players "disrespecting" the country's flag by refusing to kneel during the national anthem, which is traditionally played ahead of all American sporting events.

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