Published: Fri, October 13, 2017
Worldwide | By Isabel Fisher

No, A Stock Market Rally Does Not Reduce the National Debt

No, A Stock Market Rally Does Not Reduce the National Debt

Trump's apparent confusion about the military exercise follows weeks of rebukes from the president about NFL players who kneel during the national anthem in protest of racial injustice and police brutality.

Last month, the president called the accusations that his team had colluded with Moscow "one of the great hoaxes" the Democrats came up with after they did "a rotten job of running".

While boasting about the US economy during an interview on Wednesday, President Donald Trump made the weird suggestion that gains in the stock market actually reduce federal 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.

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. And maybe in a sense, we're reducing debt. "But we're very honored by it".

Economic policy: he tried to connect the surge in the stock market since his election to the growing federal debt, which recently passed $20 trillion. "And we're very, very happy". Higher stock prices mean gains for investors and shareholders; they in no way impact the amount of money the government owes.

Nevermind that the debt has actually grown under Trump because "spending has increased and people have cut back on paying certain taxes compared to expectations", the Washington Post reports. So, on their own, the tax cuts being sought by Trump would hugely expand the deficit and add to the debt.

The interview is expected to cover a range of topics making headlines, along with Trump's push for tax reform and his new 70-point immigration plan, according to Fox News insider. The paper pointed out there are so many rich people who reside many other states, such as Florida.

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