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In an exclusive extract from this week’s edition, read about Trump’s latest plan for a cash giveaway.
Abraham Lincoln was the Great Emancipator. Ronald Reagan was The Great Communicator. And now, President Donald J. Trump has come up with a scheme he hopes will secure his legacy as The Great Benefactor.
We hear from White House sources that Trump is planning to give $1,000 to every newborn child in America that the government will invest on their behalf to provide them with a nest egg they can collect when they turn 18. (No word yet if he will arrive at each newborn’s house with a big Ed McMahon-sized check.)
The money will not be put in the stock market, but is likely to be invested into a new sovereign wealth fund, which Trump has touted. The president clearly feels left out of the cool kid gang. Countries like the United Arab Emirates, Saudi Arabia, Kuwait, and Abu Dhabi all have sovereign wealth funds and he doesn’t.
There are also plans to expand the scheme to kick off the nation’s 250th anniversary next year and award $1,000 to every child under 10. Similarly, the money would be withheld in the sovereign fund until they are 18.
“It’s how Trump sees himself,” said our source in the know. “He wants to be remembered as the president who made the country wealthy again, and he thinks this will help make him the most popular in history.”
Eighteen years at a solid return rate of 8 percent will provide each child with $3,996. Good, but not quite the $413 million that The New York Times reported Trump’s father handed to his son.
In South Korea, the government is considering offering a $75,000 incentive for every baby born to boost the country’s record-low birth rate and also keep a steady supply of music idols. But we’re told Trump’s plan has nothing to do with declining birth rates in the U.S.
“It’s more about his legacy,” said the insider. “He wants people to like him, and he knows that people like money.”
No wonder father-of-14 Elon Musk keeps having more children. With the way Tesla’s stock is diving, they might need the money!
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