The US President Donald Trump said on Wednesday in a televised interview that the alleged Russian meddling in 2016 presidential campaign was merely an excuse introduced by the Democratic party to justify their suffered political defeat.
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. 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. So they borrowed more than $10 trillion. Possibly picked up the whole thing in the first nine months, in terms of value.
"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. "We are very honored by it and very, very happy by what's happening in Wall Street".
But higher stock prices reflect corporate profits. If the US funds expansions of education or infrastructure that allows for better and more economic activity, then it's money not just well spent, but as Trump would say, in a sense reducing debt.
CNBC pointed out that the stock market and the national debt have nothing to do with each other, "For evidence that the two metrics have little to no bearing on one another, look no further than the eight years of the Obama presidency: Between 2009 and 2017, the S&P 500 returned 235 percent while the national debt soared".
Of course, this is a gross overread of the stock market rally.
In terms of stock market gains, Trump is accurate about the increase, although the exact figure could be up for debate.
Trump seems not to know any of that.
I assume he thinks it's like a real-estate investment: If you have a $50 million mortgage on a building, and its value rises from $80 million to $100 million, you have deleveraged without paying your debt down at all. I'm great with debt.
So, Trump is wrong to say he's fixing the debt.