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Does Donald Trump Even Have $45 Million To Repay His ‘Loans’?

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Does Donald Trump Even Have $45 Million To Repay His ‘Loans’?

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Republican U.S. presidential candidate Donald Trump delivers a speech at the Alumisourse Building in Monessen, Pennsylvania, U.S., June 28, 2016. REUTERS/Louis Ruediger

A few weeks ago, the Trump campaign tried to quash rumors of its financial demise by announcing that Trump would write off the $45 million in loans he had used to “self-fund” his campaign.

After that statement, a far-too-small-handful of political journalists responded: Show us the money.

Why? As The National Memo has reported, since Trump began bragging about his financial independence, “self-funding” doesn’t really mean self-funding. It’s a talking point: Trump can repay his loans with donations from supporters at any time before the Republican convention and walk away from this campaign having pulled off the most cost-efficient advertising campaign in history.

So far, that seems to be the case. According to NBC News, whose Ari Melber has tracked the promise in recent days, the FEC maintains that Trump hasn’t converted any of his loans into donations, and the Trump campaign itself is refusing to release any documentation that would prove Trump has donated his campaign anything.

Campaign spokesperson Hope Hicks told NBC that the paperwork “will be filed with the next regularly scheduled FEC report [on July 20],” but declined to provide any documentation proving that claim.

Of course, that’s what she did last time.

In the meantime, what about the rest of Trump’s campaign? His fundraising efforts may have just broken federal law, and it is currently tens of millions of dollars in debt on top of what Trump has promised to pay. By all financial measures, billionaire Donald Trump can’t afford his own ego trip.

 

Photo:  Republican U.S. presidential candidate Donald Trump delivers a speech at the Alumisourse Building in Monessen, Pennsylvania, U.S., June 28, 2016. REUTERS/Louis Ruediger

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2 Comments

  1. PrecipitousDrop July 1, 2016

    We know that the Trump campaign has paid a lot of money to the Trump corporation that flies Donald Trump from place to place, and we know that the campaign has paid handsome sums for events at Trump Towers, Mar-a-Lago, and other Trump resorts, about 20% of campaigning spending at last count. So, a large percentage of his campaign “loans” were used to benefit himself.
    If Trump does not convert his loans to donations, does this mean that he is paid TWICE for transportation and venues? Once, as noted, by his “self funded” campaign, and again by donors who retire his “debt?”

    Reply
    1. Independent1 July 1, 2016

      What you can be sure of, is that Donald and his accountants have figured out every way possible for Donald to come out smelling like a rose (being even richer); when all this contrived fiasco he’s been running is over and Donald has been severely trounced in the election. I’m not yet convinced, that that hasn’t been ‘The Donald’s’ motive all along, to simply make himself a little richer, at the expense of millions of Americans who have fallen for his sham of a presidential-election campaign.

      Reply

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