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Morning Joe economic analyst Steve Rattner discusses the president's budget proposal.
America's growing debt is the result of simple math — each year, there is a mismatch between spending and revenues.
When the federal government spends more than it takes in, it has to borrow money to cover that annual deficit. And each year’s deficit adds to our growing national debt.
US Debt= $39 Trillion and Federal Reserve assets= $7 Trillion
President Donald Trump’s net worth has skyrocketed since retaking the White House, largely thanks to one industry: cryptocurrency. On Friday’s “Morning Joe,” economic analyst Steve Rattner broke down the president’s profits and explained how he has effectively become the “crypto king.”
The former Treasury official used data from Forbes to track Trump’s wealth over time. While it has fluctuated over the decades, Rattner noted that during the president’s first administration, his net worth “went down pretty substantially.”