During his contentious and disastrous NBC town hall meeting on Thursday evening, President Donald Trump was asked by host Savannah Guthrie about a report from The New York Times that he owes $421 million to unknown creditors. Rather than actually respond directly, Trump said:
“What I’m saying is that it’s a tiny percentage of my net worth. . . . I don’t owe Russia money. I owe a very, very small . . . It’s called mortgages. People have a house, they put a mortgage.
“I don’t owe money to any of these sinister people. This has been going on for years now.”
A tiny percentage of his net worth? Well, that’s a GIANT lie, like almost everything Donald Trump says, because according to a new report from Forbes, the amount of debt Trump owes is actually more like a cool $1 billion!
“No aspect of Donald Trump’s business has been the subject of more speculation than his debt load. Lots of people believe the president owes $400 million, especially after Trump seemed to agree with that figure on national television Thursday night. In reality, however, he owes more than $1 billion.
“The loans are spread out over more than a dozen different assets—hotels, buildings, mansions and golf courses. Most are listed on the financial disclosure report Trump files annually with the federal government. Two, which add up to an estimated $447 million, are not.”
Overall, Forbes reports, Trump owns properties and other assets that are valued at $3.6 billion. So if he owes $1 billion, that means one-fourth of those are leveraged. Owing that sort of money certainly doesn’t qualify as a “tiny percentage.”
Bottom line: Trump has been caught in yet another lie, and if he has nothing to hide, all he has to do is release his tax returns. Instead, he’s fighting to keep them from a grand jury in Manhattan. That alone suggests he has lots to hide.