Trump is right to link national debt to assets

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

Not even Sean Hannity could hide the signs that Trump is mentally not all there as the President didn't know what the national debt is, and thinks the stock market is an asset to pay off the debt. He went on, "As you know, the last eight years, [the federal government] borrowed more than it did in the whole history of our country. And we're very, very happy". "So they borrowed more than $10 trillion, right?"

"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.

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"In no sense does the stock market rally wipe out the national debt", said Romans. "So, you could say in one sense we are really increasing values, and maybe in a sense we are reducing debt". 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. 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. While the stock market is in the midst of a historic-but not at all unprecedented!-run, which the president regularly brags about on Twitter, it has. No, a far more appropriate measurement would be to compare the national debt to the size of the national economy.

"The stock market's gains have virtually nothing to do with the size of the national debt, which continues to rise because government spending far exceeds government receipts", political economist Greg Valliere told CNNMoney.

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The question of whether the USA has too much, too little or just enough debt is for another day.

The national debt, which sits at $20 trillion and counting, is the debt owed by the federal government. But from his point of view, the U.S.is just a few good quarters away from accomplishing that goal ahead of schedule.

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