Relevant:
- Mnuchin: Stock market 'absolutely' Trump admin's economic report card
- After Trump broke his promise to eliminate the national debt, GOP senators say ‘next term'
- Donald Trump's great tax dodge: How the nominee avoided paying millions in taxes
- U.S. Deficit Up for First Time Since 2009 on Spending Surge
- America's Huge Debt Buildup Has Tied Trump's Hands
2017-10-12 — cnn.com
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... The stock market and the national debt have, quite literally, no direct connection. The stock market, broadly speaking, measures wealth being created (or lost) by large corporations and investors in those companies.
The national debt, which sits at $20 trillion and counting, is the debt owed by the federal government. There are two ways to reduce the debt: Raise taxes or reduce government spending. A bull stock market is not one of those two options.
Trump seems not to know any of that.
Trump seems to be getting more senile by the hour...
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