Trump Ignorantly Thinks the Stock Market Reduces Government Debt

Trump Ignorantly Thinks the Stock Market Reduces Government Debt”

While boasting about the USA economy during an interview on Wednesday, President Donald Trump made the freakish suggestion that gains in the stock market actually reduce federal debt. "And yet, we picked up 5.2 trillion just in the stock market", Trump said during an interview on Fox News".

The Republican tax plan unveiled last week calls for as much as $6 trillion in tax cuts that would sharply reduce federal revenues.

"So, you could say in one sense we are really increasing values, and maybe in a sense we are reducing debt", Trump added, before Hannity quickly moved on to another topic. As CNBC details, to see why this doesn't make sense, consider the relationship (or lack thereof) between the stock market and debt during the Obama administration. But we're very honored by it.

Yes, the debt burden, to the extent that it actually matters, is spread across every taxpayer, while stocks are not widely held, and in fact, concentrated among the rich. In Trump's fractured mind, the stock market is part of a big pile of money that is used to pay the national debt. The stock market has nothing to do with the debt.

"Stock Market has increased by 5.2 Trillion dollars since the election on November 8th, a 25% increase".

Trump appeared not to know how the debt works.

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

"A higher stock market encourages consumers and companies to spend more, which helps the overall economy", said Valliere of Horizon Investments.

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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