October 21, 2020/Media, Press

Financial Records show Trump Owes More than a Billion Dollars in Debt

Austin, Texas — This week, in a bombshell report, Forbes magazine reported Donald Trump is more debt than originally reported, an estimated $1 billion in debt.

ICYMI: Forbes: Donald Trump Has At Least $1 Billion In Debt, More Than Twice The Amount He Suggested

“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.”

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“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.”

  • “One reason for all the confusion: Trump’s loans are not fully transparent. It’s still unclear to whom he owes an estimated $162 million against his skyscraper in San Francisco, for example. The loan against 1290 Avenue of the Americas is also something of a mystery. And it’s difficult to pin down the amount the president owes on a loan tied to his Bedford, New York, mansion. When asked about all of this, the Trump Organization did not respond.”
  • While Trump attempts to falsely paint Joe Biden as being soft on China, new findings from Trump’s tax records show his business history is wrought with financial deals involving the Chinese government.

In fact, as reported by the New York Times, China is one of three countries where Trump keeps his financial holdings.

Donald Trump is a Crook and a Liar and the American People are Paying the Price
Texas Democratic Party Communications Director Abhi Rahman issued the following statement:

“Donald Trump is completely in over his head. From the presidency to his businesses, Trump has failed at everything he has done. Trump is a billion dollars in debt to primarily foreign countries. He is a national security threat who can be extorted by hostile foreign powers—which may have already happened.

“The IRS must fully investigate Trump and his family for corruption—and make their findings public. We need leaders who we can trust, who have nothing to hide and will not put our national security at risk.”