Trump Ignorantly Thinks the Stock Market Reduces Government Debt

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Trump Ignorantly Thinks the Stock Market Reduces Government Debt

He told Sean Hannity, "Now, if you look at the stock market, that's one element, but then we have many other elements".

The exclusive interview with Trump will be aired on "Hannity" at 9 p.m. on Fox News.

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. "So, they borrowed more than $10 trillion dollars, right?" "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're really increasing values; and maybe in a sense we're reducing debt". And no, that stock market rally did not reduce or offset the national debt either. But we're very honored by it. Plus, they're not entirely owned by Americans. The stock market has nothing to do with the debt.

As for that stock market rally, the Standard and Poor's 500 is up almost 20% since his election - an impressive rally.

Would I have linked it that way?

The question of whether the USA has too much, too little or just enough debt is for another day.

Trump appeared not to know how the debt works.

The debt is money that the federal government has already spent.

If the US grows its debt to build bridges to nowhere, then no, it's not a wise use of money.

"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!"

And in any case, Trump's comments are a far better construct for evaluating the national debt than that of the zero-sum tea partiers.

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