President Donald Trump is no stranger to bankruptcy. Though Trump himself has never declared bankruptcy, the businessman-turned-politician has declared bankruptcy on quite a few of his numerous companies.
Trump's Taj Mahal casino in Atlantic City declared bankruptcy in 1991 after "default[ing] on interest payments to bondholders as his finances went into a tailspin," The Washington Post's Robert O'Harrow wrote. Two other Trump casinos have similarly declared bankruptcy, along with the Plaza Hotel in New York.
PolitiFact also discovered two previously unknown bankruptcies filed by Trump — one for Trump Hotels and Casinos Resorts in 2004, which had gone into $1.8 billion in debt, and another for Trump Entertainment Resorts in 2009.
President Trump doesn't seem to be bothered by his lengthy history of bankruptcies, however. In a 2016 Republican presidential debate, Trump was asked why he could be trusted to "run the country's business" following his string of bankruptcies.
He responded, saying, "I have used the laws of this country — just like the greatest people that you read about every day in business have used the laws of this country, the chapter laws, to do a great job for my company, for myself, for my employees, for my family, et cetera."