Rachel Maddow revealed on Tuesday night that the reason Donald Trump is trying to host the next G7 summit at his resort in Doral, Florida is that the property is failing and needs the money.
As the MSNBC host pointed out, citing a report from The Washington Post, “That particular club owned by the president, that particular golf resort, actually isn’t doing well. It really needs the money.”
“This is his keystone property in terms of revenue, and it’s failing,” Maddow added.
— PoliticusUSA (@politicususa) August 28, 2019
What I did not realize before this whole thing actually started happening is that that particular club owned by the president, that particular golf resort, actually isn’t doing well. It really needs the money. That ‘severely underperforming’ line in The Washington Post story on this scandal comes from a tax consultant who was actually hired by the president’s business. That tax consultant told Florida officials last year that the net operating income at the Doral club has fallen by 69% and is a, quote, severely underperforming property, even compared with other nearby resorts. According to The Post today, quote, the Doral club is a keystone of Trump’s business, supplying him with more revenue than any other hotel and also carrying some of his biggest loans. Trump purchased the Doral club in 2012, taking out $125 million in loans to do so from Deutsche Bank. And so, yeah, this is his keystone property in terms of revenue and it’s failing. And so, yeah, the president might want to figure out a way to use his public office now to force people and force other countries to spend a lot of money at his severely underperforming club.
Trump is using the presidency to clean up his business failure
Donald Trump is no stranger to financial failures. In fact, his entire business career is lined with flops, from Trump Airlines to Trump Steaks to Trump casinos. If it has Trump’s name on it, chances are it’s going to be a failure.
The only difference now is that Trump holds the most powerful office in the world, and – with the help of a corrupt attorney general – he’s using it to boost his failing businesses.
Donald Trump promised to drain the so-called swamp if he was elected. But over the last two and a half years, he has filled it with his own filth and is happily swimming in it.
Sean Colarossi currently resides in Cleveland, Ohio. He earned his Bachelor of Arts degree in Journalism from the University of Massachusetts Amherst and was an organizing fellow for both of President Obama’s presidential campaigns. He also worked with Planned Parenthood as an Affordable Care Act Outreach Organizer in 2014, helping northeast Ohio residents obtain health insurance coverage.