Super Stupid

Trump Doesn’t Know How Debt, or Stocks, or Anything Works

JM Ashby
Written by JM Ashby

As often as Trump says ridiculous things, it's still fairly rare to see conservatives call him out for it. But Trump said something so preposterous last night the response from both sides of the aisle was nearly unanimous.

Trump appeared on Fox News with his personal fluffer Sean Hannity last night where he made the fantastical claim that stock market gains have eliminated a portion of the national debt.

"The country — we took it over and owed over $20 trillion," Trump said in an interview on Fox News, referring to the total national debt, which has hovered near $20 trillion since early 2016.

"As you know, the last eight years, [the federal government] borrowed more than it did in the whole history of our country," Trump said. "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."

I'm fairly certain that $5.2 trillion is not $10 trillion. That is not how numbers work. That is also not how the stock market or the national debt works. Financial gains made by Wall Street do not belong to the United States Treasury.

Some people might say Trump actually does know how these things work and he was simply lying on Fox News, but personally I believe Trump is mentally deteriorating and does not have a firm grasp of reality or even the English language. But you don't have to take my word for it. Virtually every White House official and cabinet member that has the ear of a reporter in Washington says Trump is increasingly unhinged.

I don't know if I should even bother pointing that Trump's package of tax cuts for the rich would add another $5 trillion to the national debt. The gains made because of that also won't belong to the Treasury. At least not until people rise up and eat the rich.

  • Aynwrong

    I’d consider it a modern miracle if Trump could demonstrate that he knows how to operate a toaster.

    • ninjaf

      Not even one of the complicated 4-slicers. Just your standard, basic 2-slicer.

  • Badgerite

    As you noted in your post, gain on Wall Street goes into Wall Street pockets. It does not go to pay down the national debt unless it is acquired by the government through taxes. And since he himself wants to enact the “bigly-est” tax cut in the history of the universe, one would have to surmise that none of that Wall Street gain is going to pay down the debt.
    What’s more, any tax cut that is not paid for elsewhere will result in government deficits to fund the tax cut. In other words, the “bigly-est” tax cut in the history of the universe will blow the national debt to kingdom come.
    But of course, trump’s solution to such economic realities has always been 1) bankruptcy followed by 2) sell out to a hostile foreign power who will fund you. I don’t think either of those are an option for this country.

    • ninjaf

      I wouldn’t be so sure he doesn’t see selling off our country to the highest bidder. See: any arms deal he has announced since taking office.

  • Dread_Pirate_Mathius

    This crap is just nonsensical. How does anyone support this guy? I wouldn’t trust him as a middle school class treasurer.

    • Christopher Foxx

      How does anyone support this guy?

      Isn’t it obvious? Voting for Trump pissed off the liberals. Most of his supporters need no more reason than that.

      And his supporters figure the “libs” get more irritated as the obviousness of Trump’s incompetence and mental instability mounts, and the just plain wrongness of his being in office grows. So continuing to claim support for him just adds to their joy.

      The actual fact that they also are realizing he’s an utter moron doesn’t count as much to them as that “frustrate the liberals” goal.