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Trump Responds to NYT Report on His Inheritance

'Very old, boring'
By Kate Seamons,  Newser Staff
Posted Oct 3, 2018 9:50 AM CDT
President Trump arrives at the White House in Washington on Tuesday after a trip to Southaven, Miss.   (AP Photo/Manuel Balce Ceneta)

(Newser) – Those waiting for President Trump's response to the New York Times investigation into what it says was the $413 million inheritance (in today's dollars) he received and the alleged "dubious tax schemes" around it got it mid-morning. The president tweeted, "The Failing New York Times did something I have never seen done before. They used the concept of 'time value of money' in doing a very old, boring and often told hit piece on me. Added up, this means that 97% of their stories on me are bad. Never recovered from bad election call!" Politico explains the "time value of money" is a reference to the concept that money available now is worth more than the same amount in the future due to its earnings potential, "but it's not clear why Trump fixated on that idea."

CNBC reports the Times issued a statement after the tweet: "This is a powerful piece of investigative journalism, the result of 18 months of inquiry and a review of over 100,000 pages of records. It is accurate and fair and we stand behind it." CNBC notes the piece "went deeper into his family's tax practices and his claims about his wealth than any report previously has." Read the specifics here. (Read more President Trump stories.)

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