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Trump interview with Hannity in Harrisburg: How to watch

Trump interview with Hannity in Harrisburg: How to watch

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. "Don't forget, the Democrats have ruled the inner cities for 100 years", he said.

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

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

The Republican tax plan unveiled last week calls for as much as $6 trillion in tax cuts that would sharply reduce federal revenues.

As Business Insider's Josh Barro theorized, it's possible that Trump was thinking about the national debt and the stock market in the same terms as one of his real-estate holdings-stocks are up in anticipation of future growth, which improves the government's hypothetical ability to service its debt.

The exclusive interview with Trump will be aired on "Hannity" at 9 p.m. on Fox News. And maybe in a sense, we're reducing debt. "And we're very, very happy with what's happening on Wall Street".

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And stock market gains are on paper (though one can borrow against them without selling).

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.

And while Trump likes to talk about "reducing debt", the economic policy proposals he's unveiled so far, especially his tax reform plan, could easily add another trillion dollars to the debt, according to economists.

Trump also denied in the Fox interview that the wealthy would get a tax break in his plan, but he tried to do this by saying people in California, New York and IL would no longer be able to deduct their state taxes from their federal taxable income.

He added that any team owner who did so, would "be the most popular person in this country".


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