President Trump's Secret Debt Exposed—What POTUS 45 Kept Hidden Throughout Entire Presidency

[basquebromance]

The fact that the former president managed to keep the debt secret for so long underscores how weak the government’s ethics safeguards are, how difficult they are to strengthen—and how easily Trump could barrel through them again…in 2024

 

[lennypartiv]

More fake news.

 

[Lumpy 1]

Typical left wing parasite reporters refrain .. "Trump, the gift that just keeps on giving" ..

 

[surada]

F

More fake news.

Forbes isn't known for fake news.

 

[playtime]

well, there's this:

Trump: 'I'm the king of debt'​

By LOUIS NELSON
06/22/2016 08:09 AM EDT

Trump: 'I'm the king of debt'

 

[playtime]

& for all you kiddies in the class who may or may not be too young to know just how deadbeat & irresponsible he is, but still think donny is a great biz'nez man ...

Quick: Who'd Have Trouble Living on $450,000 a Month?
By Kurt Eichenwald

• June 26, 1990

Donald J. Trump, who has lectured America about architecture, foreign policy and, most of all, how to do deals, may be about to learn a lesson of his own: how to live in Manhattan on $450,000 a month.
That scarcely onerous restriction is being imposed by Mr. Trump's bankers, who have insisted that the man who has made conspicuous consumption a personal trademark must curb his spending a bit.
Moreover, the $450,000-a-month allowance excludes some of the largest of Mr. Trump's daunting expenses, the bankers say. These extras, based on Mr. Trump's spending in May, include the costs of maintaining his personal 727 jetliner ($246,000) and his 282-foot yacht ($841,000). The yacht and the personal jet, to be sure, may be sold to trim the real estate developer's mountainous debts.
In May, Mr. Trump also paid interest of $2.1 million on his personal debt, while his legal, charitable and business expenses totaled $382,000. His interest payments and various expenses do not count as personal spending, either.

Still, the $450,000-a-month limit will require some belt-tightening on Mr. Trump's part. In May, his bankers report, Mr. Trump's personal spending amounted to $583,000 for day-to-day necessities of the ultrarich life style, which range from his $2,000 suits to the costs of maids, gardeners and chefs at his three homes.
So to meet the bankers' target, Mr. Trump must trim his personal expenses by more than $100,000 from the May level. If he can do that, the banks will agree to lend Mr. Trump even more money.

The terms are being required by the banks, which are attempting to structure a loan to Mr. Trump to keep his faltering empire out of bankruptcy court.
The personal spending limits agreed to by the banks, though a cutback for Mr. Trump, still come to $5.4 million a year. If the banks agree to the terms of the new loan, in the month of July, for example, Mr. Trump would have to hold his expenses to just $14,516.13 a day, or $10.08 every minute of the day and night.
'It's Just Phenomenal'
Even the truly wealthy found Mr. Trump's manner of spending, reduced circumstances or not, to be remarkable.


''I would have no idea how to spend $450,000 a month,'' said one billionaire, who asked not to be identified. ''It's just phenomenal.''
Financial planners for the well heeled agreed.
''We have handled a lot of entertainers, some of whom lived very extravagantly, but I have never come across anybody who spent that way,'' said Lawrence B. Eichler, president of Sentinel Asset Management. ''Donald Trump lives in strata few of us approach, or even want to approach.''
Even Mr. Trump, who declined to comment, once said: ''A little more moderation would be good.'' But he was quick to add, ''Of course, my life hasn't exactly been one of moderation.''
Deadline on a Payment
Mr. Trump's unfolding financial drama may reach a climax tonight as the developer faces a deadline to make a payment on a high-yield ''junk bond'' issue. No matter what the outcome, the glimpse of Mr. Trump's spending habits is certain to add another layer to the high-spending lore to the 1980's.

Mr. Trump's new allowance may be absorbed easily, given the style of living to which he has become accustomed. The developer owns three homes, including Mar-a-Lago, in Palm Beach, Fla. That home, which was willed to the State of Florida by Marjorie Merriweather Post, was sold to Mr. Trump because the state could not afford to pay for its upkeep. Scores of household staff members are paid to help keep up the 118-room residence.
Mr. Trump will also have to continue to maintain his 50-room penthouse triplex in Manhattan's Trump Tower, which comes complete with an 80-foot living room, bronze-edged floor-to-ceiling windows overlooking Central Park, and a 12-foot waterfall.
[...]
Quick: Who'd Have Trouble Living on $450,000 a Month?

 

[Esdraelon]

F

Forbes isn't known for fake news.

If one takes the time to actually listen to the piece it's clear he broke no laws. This is just another example of the "fire all your guns at once" hoping something, ANYTHING, will stop him running or winning. It's going to be entertaining to watch their hysteria grow for 2 years.

 

[lennypartiv]

Trump: 'I'm the king of debt'​

Like I said, fake news.

 

[playtime]

Like I said, fake news.

^^^
lol...

 

[ColonelAngus]

If it was on his tax returns, how is it “SECRET”?

 

[lennypartiv]

If it was on his tax returns, how is it “SECRET”?

Arguing with liberals is a waste of time.

 

[ColonelAngus]

Well this thread went nowhere.

 

[lennypartiv]

So Trump mentions debt in one interview and playtime makes a big deal about it.