Trump responds to New York Times report he lost more than $1 billion, calls it "hit job"

President Trump on Wednesday said a New York Times report on his tax information and finances was based on "very old information," tweeting that "almost all real estate developers" posted large losses in their tax returns. "You always wanted to show losses for tax purposes....almost all real estate developers did - and often re-negotiate with banks, it was sport," he wrote. "Additionally, the very old information put out is a highly inaccurate Fake News hit job!" The Times reported Trump posted a total of $1.17 billion in losses over the decade." Those losses allowed Trump to avoid paying federal income tax for most of that decade.