"As you know, the last eight years, [the federal government] borrowed more than it did in the whole history of our country", Trump said. And yet we picked up $5.2 trillion just in the stock market. "They said - they lost the election - they sat in a room and they said, "Wow, we look bad, '" Trump said during an interview with Fox News" "Hannity". And maybe in a sense, we're reducing debt. "So they borrowed more than $10 trillion, right?" "We're very honored by it". "And we're very, very happy". But even this generous explanation relies on so many assumptions that it doesn't really help Trump-as the president continues to be reminded, the United States is not a real-estate business, and the White House is not a family office. "That means more money in the pocket of everyday citizens, and more circulating in our economy as a whole", the official argued.
"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. Like families, nations accrue debt when they spend more money than they take in. The stock market could reverse its gains and all of those profits could disappear, and the debt would remain at around $20 trillion.
Twice a day, as the American flag is raised and lowered on USA military bases and other installations, a bugle plays "Retreat". As of October 10, the USA owes over $20 trillion in debt, a slight increase from January.
Also, more or less accurate - $9 trillion to be exact.
Hannity's whiney Twitter post follows a statement released by Sasse on Wednesday, in which the Republican senator took Trump to task for threatening to "challenge" NBC News' license, which would be a stunning assault on the U.S. Constitution.