President Donald Trump's recent speech at Mount Rushmore, where he condemned communism and warned against a "band of thieves, radicals and lunatics" looting the nation, has drawn sharp criticism. Opponents noted that the description echoed accusations made against Trump, his family, and associates regarding their financial dealings since he entered the White House.
During the July 3 address, Trump stated, "Our American ancestors did not shed their blood at Concord and Trenton, Gettysburg and Shiloh, Midway and Normandy, just so that a band of thieves, radicals and lunatics could come in and loot, pillage our nation." This assertion came days after financial filings indicated Trump earned more than $2 billion in the previous year.
The Wall Street Journal editorial board previously accused Trump and his family of "profiting off the presidency in ways that demean the office." Reports suggest Trump's financial gains include nearly $1.4 billion from cryptocurrency businesses, while The New York Times reported significant losses for hundreds of thousands of other cryptocurrency holders. Additionally, the president has reportedly benefited from purchasing stocks in companies shortly before his administration announced decisions favorable to those firms.
These financial activities have led to claims that "The Trump clan is cashing in on the Presidency in big and sketchy ways," as described by the Journal.
The president's remarks about inflation last month, when he said, "I love the inflation," have also resurfaced amid rising consumer prices. Critics have highlighted the disparity between his comments and the financial struggles faced by many Americans.
Trump has increasingly used the term "communist" to describe those who disagree with him, a tactic observers suggest is an attempt to invoke "Red Scare" sentiments amid declining approval ratings and projections of potential party losses in the upcoming midterm elections.