Post by trotsky Post by bruce bowser
"According to the House oversight committee’s new report, Trump’s audited financial statements show that the property “sustained a net loss of $2.5 million to $22 million each year, for a total loss of more than $73 million from 2016 to 2020.” In other words, the hotel wasn’t raking in cash as it seemed from the outside; it was bleeding money. And according to the committee, this was true even before the Covid-19 pandemic crushed the hotel industry writ large. The Trump D.C. hotel’s financial condition was so precarious that a separate Trump legal entity loaned the hotel $27 million from 2017 to 2020. Most of that money ultimately wasn’t repaid, the committee found."
Even Blatant Corruption Couldn’t Save Trump from Losing $73 Million on His D.C. Hotel
Rolling Stone Magazine -
Summary of Trump Final Numbers:
The statistics for the entirety of Donald Trump’s time in office are nearly all compiled. As we did for his predecessor four years ago, we present a final look at the numbers.
The economy lost 2.9 million jobs. The unemployment rate increased by 1.6 percentage points to 6.3%.
Paychecks grew faster than inflation. Average weekly earnings for all workers were up 8.7% after inflation.
After-tax corporate profits went up, and the stock market set new records. The S&P 500 index rose 67.8%.
The international trade deficit Trump promised to reduce went up. The U.S. trade deficit in goods and services in 2020 was the highest since 2008 and increased 40.5% from 2016.
The number of people lacking health insurance rose by 3 million.
The federal debt held by the public went up, from $14.4 trillion to $21.6 trillion.
Home prices rose 27.5%, and the homeownership rate increased 2.1 percentage points to 65.8%.
Illegal immigration increased. Apprehensions at the Southwest border rose 14.7% last year compared with 2016.
Coal production declined 26.5%, and coal-mining jobs dropped by 16.7%. Carbon emissions from energy consumption dropped 11.5%.
Handgun production rose 12.5% last year compared with 2016, setting a new record.
The murder rate last year rose to the highest level since 1997.
Trump filled one-third of the Supreme Court, nearly 30% of the appellate court seats and a quarter of District Court seats."
Fact Check dot org-- https://www.factcheck.org/2021/10/trumps-final-numbers/