Trump Claims Stock Market Rise Can Erase National Debt

President Trump “suggested that a soaring stock market might be ‘in a sense’ reducing the national debt, a statement that is not true, in any sense,” the New York Times reports.

Said Trump: “The country — we took it over and owed over $20 trillion. As you know the last eight years, they borrowed more than it did in the whole history of our country. So they borrowed more than $10 trillion, right? And yet, we picked up $5.2 trillion just in the stock market. Possibly picked up the whole thing in terms of the first nine months, in terms of value.”

He added: “So you could say, in one sense, we’re really increasing values. And maybe in a sense we’re reducing debt.”