Trump Ignorantly Thinks the Stock Market Reduces Government Debt

Hannity was fired from KCSB the University of California's radio station after the controversial segment in 1989

President Donald Trump is scheduled to sit down with Fox News' Sean Hannity on Wednesday in Harrisburg for an exclusive interview to air on the network.

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're really increasing values". The claim is incorrect on its face, but it does point to how the president views the economic interplay between the federal government and Wall Street. 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", Trump said.

In Trump's fractured mind, the stock market is part of a big pile of money that is used to pay the national debt.

While it's true that USA stock market indexes have risen markedly during Trump's time in office, the current gains are part of a bull market that began in the spring of 2009, when the country began to recover from the Great Recession and the collapse of the housing market.

Earlier Wednesday, Trump vowed that the stock market and employment would "grow by leaps and bounds" if Congress passes tax cuts he is proposing.

As for that stock market rally, the Standard and Poor's 500 is up almost 20% since his election - an impressive rally. "Lowest unemployment in 16 years and if Congress gives us the massive tax cuts (and reform) I am asking for, those numbers will grow by leaps and bounds #MAGA", the president said in a series of tweets.

Related News:



Most liked

Court grants woman paid sick leave to care for ailing dog
The court accepted the argument and ruled that La Sapienza must give the employee back pay for the two days she was absent from work.

Brookfield Infrastructure Partn (NYSE:BIP) Trading Up - Short Interest Down by -27.90%
Brookfield Infrastructure Partners (NYSE:BIP) (TSE:BIP.UN) last announced its quarterly earnings data on Thursday, August 3rd. The company had revenue of $934.00 million during the quarter, compared to analysts' expectations of $768.00 million.

Amazon.com, Inc. (AMZN) Position Lifted by Lourd Capital LLC
The e-commerce giant reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.40 by ($1.00). It also upped Brookfield Global Listed Infrastructure Income Fun (INF) stake by 43,126 shares and now owns 341,891 shares.

Investors Buy Shares of Netflix, Inc. (NFLX) on Weakness
The value of the total investment in Netflix , Inc. went from $787,000 to $720,000 a change of 8.5% quarter over quarter. As of quarter end Grubman Wealth Management had disposed of a total of 1,300 shares trimming its holdings by 24.7%.

Camden Property Trust (NYSE:CPT) Q2 2017 Sentiment Report
Confluence Inv Ltd Liability Corporation holds 0.07% or 299,396 shares in its portfolio. 4,799 are owned by Tarbox Family Office. Waterfront Capital Partners LLC bought a new position in Columbia Property Trust during the first quarter worth $19,219,000.

Firangi motion poster: Kapil Sharma ready to fight for the nation
When Kapil was doing his show The Kapil Sharma Show that time he always promoted his upcoming movie Firangi . Kapil made his debut on the silver screen with Abbas Mustan's Kis Kis Ko Pyaar Karun, which released in 2015.

'Breaking Bad' house owners put up fence to stop pizza throwing
According to Quintana during the first Balloon Fiesta after they moved in, she reckons the numbers went into the hundreds.

OSU receives grand jury subpoena in basketball case
Underwood, who was coach at Oklahoma State from March 2016 to March 2017, is not named in the subpoena. The current Oklahoma State coaching staff retained Evans after Underwood left in March for IL .

Amblin's Adaptation of Stephen King's The Talisman Hires Josh Boone As Screenwriter
He'll need to venture across the States and enter The Territories to find the object that gives the book its title. Boone broke out as a helmer when he wrote and directed the box office hit " The Fault in Our Stars ".

Wells Fargo & Co (WFC) Analysts See $1.05 EPS
After $0.39 actual earnings per share reported by Kroger Co for the previous quarter, Wall Street now forecasts 2.56% EPS growth. Sawgrass Asset Management Ltd Limited Liability Company invested 0.14% of its portfolio in Wells Fargo & Co (NYSE:WFC).

Royal Bank of Canada Reaffirms Buy Rating for SunTrust Banks, Inc. (STI)
STI's 9-day MACD now sits below the 20-day MACD, indicating that STI's upside momentum has decreased during the last three weeks. It worsened, as 51 investors sold STI shares while 249 reduced holdings. 65 funds opened positions while 210 raised stakes.

Juan Martin del Potro battles past Alexander Zverev at Shanghai Masters
Sixth-seeded Grigor Dimitrov also advanced, but had to save three match points before beating Ryan Harrison 3-6, 6-3, 7-6 (6). The victor of that match may well meet Roger Federer in the semi-finals - a man whom Del Potro downed at the US Open.

Premier League rules out playing Christmas Eve match at 16.00 GMT
Given his say, Wenger admitted at his weekly press conference that he would rather not kick off any later than 2pm if Arsenal are asked to play on Christmas Eve.

China wants U.S. to recognise Pakistan's efforts to combat terrorism
A number of former and present ambassadors, congress and senate staffers, state department officials and prominent media persons were present on the occasion.

Ceasefire violation along LoC: Pakistan opens fire in J&K's Poonch district
On June 12, Pakistani Army violated ceasefire along LoC in Krishna Ghati at 6:20 AM in Jammu and Kashmir. The exchange of fire in Poonch's Khadi Karmara continued as reports last came in, the officials said.