There are few names associated with politics that stir emotions more often than those of President Donald Trump. Known for his brash attitude, outspoken nature and success in the business world, President Trump is no stranger to controversy and making waves in the political arena. In recent months however, the topics of fiscal responsibility have shifted to the forefront of political dialogue, and President Trump’s financial losses that have come to light have raised some serious questions.
It is no surprise that President Trump’s financial records have remained largely unknown until recently. It is known that prior to or during the campaign for the presidency in 2016, Trump’s finances were in arrears, and due to issues with his taxes being under audit and the fact that he was a private citizen, the records were not made public.
However, since taking office, the President has earned substantially more, and with the scrutiny from the IRS and multiple court cases, more of his financials have become public. Unfortunately, for Trump, the awaits proving how successful of a businessman he really is have been less than favorable.
In fact, media outlets such as The New York Times and Forbes, have reported that the president’s financial documents show that from 1985 to 1994 Trump was hemorrhaging money with an absurd loss of over $ 1 billion, as well as $ 315 million in personal taxes.
Of course, not all of the financials are bad, and Trump does have some assets to show for his time in the business world. It is also said that he was able to turn the corner, and started to become more of an “opulent mogul” with real estate investments and other businesses. However, this is by no means a sign of financial success, but rather prudent investment strategies.
The current administration has, of course, been catchy in attempts to answer questions of financial stability. The spins the truth, stating that the reported losses were due to a “far-sighted and aggressive investment strategy” that left Trump to come out ahead in the end. This has been the only explanation that has been put out by the administration, a claim that outside sources have spoken out against. So, the President continues to face substantial doubt when it comes to his previous financial successes.
It is likely that Trump will continue to face questions about his financial successes and losses. With more details coming to light, it will be interesting to see how much longer the administration can spin and dodge the real facts about President Trump’s finances. One thing is certain; his losses may have a lasting ripple effect in future campaigns and future Presidents.
