$421 Million in Debt: Trump Calls It ‘a Peanut,’ but Challenges Lie Ahead

Credit: NYTimes.com- Published 1 week ago
The president on Thursday played down big loans he guaranteed for his struggling businesses. But much of that debt is soon to come due in the midst of declining revenue and an I.R.S. audit that could cost him over $100 million.
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Published 1 week ago -  00:40
Trump Admits To His $400 Million Dollar Debt
According to Business Insider, on Thursday, President Donald Trump responded to a town hall question about a New York Times report which revealed that he only paid $750 in federal income taxes in 2016 and 2017. The report also revealed that Trump paid no income tax in 11 of the 18 years of tax documents that they reviewed. Trump refuses to release his tax returns, saying it's because he is under audit, although there are no rules against it. He also accused the Internal Revenue Service of treating him unfairly. When it comes to his debt, Trump did not deny having $400 million worth of it. He said, "Four-hundred million dollars compared to the assets that I have, all of these great properties all over the world." Trump added, "The amount of money – $400 million, is a peanut." The president did not say to whom he owed the 400 million to, but claimed that he did not owe any money to Russia.

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President Trump Didn’t Deny Having $400 Million Debt and Called It ‘a Peanut’ 01:24
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