Trump acknowledges he may owe $400 million to unknown sources during town hall.

President Donald Trump listens during an NBC News Town Hall, at Perez Art Museum Miami, Thursday, Oct. 15, 2020, in Miami.

President Donald Trump listens during an NBC News Town Hall, at Perez Art Museum Miami, Thursday, Oct. 15, 2020, in Miami.

AP Photo/Evan Vucci

U.S. President Donald Trump acknowledged that he may owe $400 million to unknown sources during a town hall television event on Thursday.

The amount was originally revealed after a New York Times investigation that also claims Trump paid around $750 in taxes in the 2016 and 2017 tax years and no taxes for 10 of the last 15 years.

“When you look at the amount of money, $400 million is a peanut, it is extremely underlevered (sic),” Trump told NBC host Savannah Guthrie. “It is levered with normal banks, not a big deal.”

While Trump said “levered,” he most likely meant leveraged, which means money was borrowed to invest in an expected profitable venture.

Trump said that he doesn’t owe the money to Russia or any “sinister people.”

When asked directly whether he has over $400 million in debt, as the Times claims, Trump responded, “It is a tiny percentage of my net worth.”

Trending Stories

“That sounds like yes (you are confirming,)” Guthrie replied.

There is concern that Trump’s debt could be a national security risk to the U.S. as it could be used to influence the president’s decision-making.

“Why would banks assume the risk on these loans?” Richard Painter, who served as chief ethics attorney in Republican George W. Bush’s White House Painter, said when the news first broke.

“Or did someone else quietly assume risk of that loan for the bank to make it happen?”

Trump previously has said he has “very little debt” and has highlighted the amount of debt compared to his alleged net worth.

When asked whether he paid $750 in tax for the 2016 and 2017 tax years on Thursday, Trump said it is a “statutory number” and he thinks it is a “filing number” and claimed the New York Times’ numbers were wrong.

-With files from the Associated Press

© 2020 Global News, a division of Corus Entertainment Inc.

Related news

Joe Biden Warns Of «Dark Winter» Of Covid In Final Presidential Debate.

A second debate planned for October 15 was cancelled after Trump came down with Covid-19 and declined to take part in a virtual debate.

Tusk: West should guarantee Eastern European countries EU, NATO membership.

The Western community must guarantee all concerned Eastern European countries the prospect of EU and NATO membership.

«Eating Rats And Snakes» : Myanmar Slums Look For Food In Open Drains.

With more than 40,000 cases and 1,000 deaths, Myanmar is facing one of Southeast Asia's worst coronavirus outbreaks, and the lockdown in Yangon has left hundreds of thousands of people without work...

US Bullying Countries To Pick Sides, Attempt Will Not Succeed: China.

The United States is bullying countries to pick sides over their ties to China, but such efforts will not succeed, Chinese foreign ministry spokesman Zhao Lijian told a news briefing on Friday.

Sri Lanka Parliament Strengthens Presidential Powers.

Sri Lankan lawmakers approved amendments to the constitution that strengthened the powers of President Gotabaya Rajapaksa and took away parliament's role in making key appointments such as judges and...

Make «Difficult» Decisions For Economic Independence: US To Sri Lanka.

The United States on Thursday urged Sri Lanka to make "difficult but necessary" decisions to secure its economic independence for long-term prosperity.

Ukraine wants explanations from Russia on military convoys in Donbas - Tsymbaliuk.

Ukraine has called on the Russian Federation to provide explanations on two convoys of military-type trucks spotted by the OSCE Special Monitoring Mission, which arrived in the occupied part of Donbas on October 16 outside border crossing points.

In WHO overhaul push, EU urges changes to handling of pandemics – media.

The EU draft will be discussed by EU health ministers at a video conference next week.

Fact check: A look at claims by Trump, Biden at final U.

A look at how some of the statements on the stage in Nashville, Tennessee, compared with the facts.

Number of COVID-19 cases confirmed worldwide exceeds 41.

The overall death toll is 1,137,204 people, while 28,345,328 coronavirus patients have already recovered.

By continuing to browse World News (UAZMI), you acknowledge that you have read the Terms of Use and agree to the use of cookies