Donald Trump promises to give every adult in America $5,000 under one condition
US President Donald Trump's promise to give every US citizen $5,000 has been labelled 'ridiculous.'
Trump took to the stage in the inaugural Republican midterm convention on Thursday, September 10, ahead of the elections for the two chambers of Congress - the House of Representatives and the Senate - this coming November.
The US President spoke for nearly two hours, making a mockery over continued rumours of his ill-health, at the event in Dallas, Texas, making a number of pledges and touching on several issues.
However, his headline declaration was a vow to give a 'dividend' payment of $5,000 to every adult US citizen.
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However, the promise came with the condition that the Republicans must win both chambers in November's midterms.
Trump said during his one-hour and 47 minute speech: "I can make this promise to you. And here is my promise. If the Republicans win the House of Representatives and the United States Senate...
"Because of our tremendous strength and success economically, I will issue a dividend to every adult citizen in the United States of America for $5,000."
Fresh off the back of changing the name of Lake Ontario to Lake America, Trump has named the initiative the 'Trump Dividend.'
He went onto caveat the promise by adding that the money would have to be spent in the US.
'Trump Dividend slammed as 'ridiculous'
If the promise came to pass, it would cost an estimated £1.7 TRILLION to fulfil.
Vice president JD Vance was asked by Fox News how Trump could fund it and pointed towards tariffs.
"You will share in some of the benefit of this incredible wealth that we are creating," he said.
A dividend is paid by a company when there is a financial surplus, but the US is currently running at an annual deficit of $2 trillion and has debts of $40 trillion, Sky News reports.
Marc Goldwein, senior policy director at the Committee for a Responsible Federal Budget, said the president has no authority to send money to people without approval from Congress.
"The idea that we've had fiscal success is backwards and bordering on laughable," he said.
Euro Pacific chief economist, Peter Schiff, named the scheme a 'ridiculous promise.'
Schiff accused the President of trying to 'buy the midterms' by bribing voters "in exchange for their votes," reports Sky News.
He added that the money would need to be spent in the US as the: "Fed will have to print the money" and the "result would be massive inflation, well in excess of anything experienced under Biden".
Trump has made such promises before, proposing a $2,000 dividend in 2025 that he claimed didn't need Congressional approval for.
It did not come to fruition, but members of the military were given a $1,1776 payment in a move he named the 'warrior dividend.'
LADbible Group has approached the White House for comment.
Topics: Donald Trump, US News, Money, JD Vance
Daniel Murphy