I am eagerly awaiting David Cay Johnston's take on the Times article over at DCreport.org.
As a follower of David's, none of this comes as news to me. However, as Trumps own tweet says, the Times did not discuss assets. I'm sure they had access to that side of the balance sheet as well. Perhaps that shoe will drop later, but my own take on Trump and his finances is that he is probably a light billionaire even with all of the debt and that he has some good performing assets that he could easily liquidate to cover the Times reported debt.
I believe the really damaging info is in the MAZAR's working papers that Vance is trying to get. Although the public will never seem them, if they get in front of a grand jury, I think at the very least Trump will be indicted for criminal tax fraud and he will be exposed as a conduit for money laundering.
His opponents should hammer on the gratuitous deductions and the non-payment years.
There is fire when all 18 years under examination are reviewed in aggregate, but that is a more subtle argument that will no doubt be lost on many.
The good news is that there is now a long string of tax return info dating back to the 80's that can be examined in the open and it should yield some interesting conclusions.