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Trump Hits Back at Embarrassing NY Times Report: ‘Highly Inaccurate Fake News Hit Job!’

President Donald Trump is pushing back on a thorough New York Times bombshell that during the 80s and 90s, Trump lost a colossal amount of money — perhaps more than anyone else in the United States.

The nearly a decade of tax data revealed Trump’s business empire lost more than $1.1 billion. He took such a financial hit, the Times reports, that his losses were among the most of any American taxpayers in  1985 to 1994.

On Wednesday morning Trump appeared to somewhat confirm at least part of the report, describing how “real estate developers” during that time were “entitled to massive write-offs and depreciation” which would show losses and tax losses in “almost all cases.”  He then followed up, for good measure, adding “Additionally, the very old information put out is a highly inaccurate Fake News hit job!”

While the report did not include information on the Trump tax returns requested by Democrats in Congress, it did add previously unknown context to the president’s financial history using information about Trump’s tax transcripts from the IRS.

The Times‘ data revealed that in 198 the losses from Trump’s businesses, including hotels, real estate, casinos, and other storefronts, amounted to over $46 million from his core businesses — largely casinos, hotels and retail space in apartment buildings. Trump’s businesses stayed in the red for every year of on the tax transcripts until their losses added up to $1.17 billion.

 

(Photo by Chip Somodevilla/Getty Images)

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