Well, it is time to add something else to the miles long list of things Republican presidential nominee Donald Trump is wrong about. During a rally speech in Pueblo, Colorado, Trump attempted to respond to the ruinous reports published by the New York Times that he paid no federal income taxes in 1995, and led many to speculate that he hasn’t pay any in decades.
So Donald attempted a little damage control. And, as usual, made everything worse. During the rally he said that:
“The news media is now obsessed with an alleged tax filing from the 1990s at the end of one of the most brutal economic downturns in our country’s history. If you remember the early ’90s, other than I would say 1928, there was nothing even close.”
He later called the early 90s “an economic depression” and claimed it was worse than the one millions of Americans suffered in the mid-2000s.
The early 90s might have been rough economically for Donald Trump, but he is incorrect in calling it a depression. While many economists do call that period of time a recession, what the United States experienced in 2007 was far worse for most Americans. The economy hemorrhaged around 8.7 million jobs nationwide, compared to only 1.6 million during the early 90s.
Trump’s financial woes began not in the 1990s, but in the 80s, when he borrowed large amounts of money at insanely high interest rates for some of his many real estate ventures that turned out to be failures. Then came the most laughable statement of his speech:
“Some of the biggest and strongest people and companies went absolutely bankrupt, which I never did. By the way, are you proud of me? Would have loved to use that card, but I just didn’t want to do it.”
Now we KNOW that one’s a lie, Donald. His companies filed for Chapter 11 bankruptcy six times between 1991 and 2009.
And by the way, the Great Depression started after the stock market crashed in 1929, not 1928.
But as we all know, Donald Trump has never been great with the truth.
Here is Donald’s full speech in Colorado:
Featured image via YouTube video.
