"So, you can say in one sense we're really increasing values; and maybe in a sense we're reducing debt".
While speaking with Fox News' Sean Hannity at an Air National Guard hangar in Middletown, Pennsylvania, Trump paused as loudspeakers began playing the tune, "Retreat", in the distance. And yet, we picked up $5.2 trillion just in the stock market.
If the GOP wants to be on the right side of history, they will distance themselves from Trump immediately and starting putting country ahead of party. Possibly picked up the whole thing in the first nine months, in terms of value. Last week, for instance, he told Fox News that he might "wipe out" Puerto Rico's $72 billion debt-something neither he nor the federal government has the power to do. 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.
"Now, if you look at the stock market, that's one element, but then we have many other elements".
It was unclear in what sense Trump believes the stock market's gains may help reduce the national debt, as the two are not connected.
During his campaign, Trump claimed that under his tutelage the US would be debt-free within eight years-a feat that has not been accomplished since 1835.
In fact, the president wants to cut taxes and potentially add to the debt if spending cuts can not be found to offset those tax cuts.
The national debt, which he correctly states is $20 trillion, is the result of the government spending more than it takes in. 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.