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profishingrods.com October 21, 2017


Trump sitting down with Sean Hannity for exclusive interview during Pa. visit

13 October 2017, 07:42 | Devin Moran

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Trump is right that the stock market has added trillions in value since his election.

"The president has started to call people more on the weekends, from the cellphone, which he didn't used to do", the person said, noting that Trump often calls Hannity after the Fox News host's nightly show.

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.

"I'm so proud of the $5.2 trillion dollars of increase in the stock market", Trump said, referring to the bull market that began as the economy pulled out of the Great Recession during the months after President Obama took office. 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, you can say in one sense we're really increasing values; and maybe in a sense we're reducing debt". "We're very honored by it". And no, that stock market rally did not reduce or offset the national debt either. The rise in the stock market alone could have no effect on the nation's debt unless those stocks are sold, at which point those shareholders would pay capital gains taxes to the federal government on their earnings.




"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", CNBC's Christina Wilkie writes.

In the speech itself, Trump laid out the benefits of his tax plan with a stress on what he projected to be a windfall for the trucking industry.

Correction: This article has been updated to accurately reflect Trump's comments in a televised interview.



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