Trump Floats $5,000 "Stimmy" Checks For Every US Adult Citizen If GOP Holds Congress

During a speech Wednesday night at the GOP's midterm convention in Dallas, Texas, President Trump proposed sending every adult American citizen a $5,000 "Trump dividend" if Republicans retain control of both chambers of Congress in November.

"If the Republicans win the House of Representatives and the United States Senate, both of them," Trump said, "I will issue a dividend to every adult citizen in the United States of America for $5,000."

He continued, "It will be called the Trump dividend," adding, "Now all we have to do is win."

NEW: President Trump makes a major promise at the Republican midterm convention in Dallas: $5,000 for every adult U.S. citizen if Republicans win both the House and Senate in the midterms.

“I will issue a dividend to every adult citizen in the United States of America for… pic.twitter.com/XqiphY7y8a

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Trump told the audience at the American Airlines Center: "Your vote will decide whether our country stumbles at the starting gate of our next 250 years or surges forward and never looks back."

Quick math: A $5,000 payout to 270 million adults would cost the US government approximately $1.35 trillion. The proposal comes as US public debt surpassed $40 trillion for the first time in recent weeks.

Bloomberg strategist Mark Cudmore warned that a large fiscal injection could intensify existing market pressures, including weaker Treasuries, dollar depreciation, and demand for commodities and other real assets.

"The general reaction from markets is very muted precisely as everyone sees almost zero chance of this happening. The US economy is strong and already at risk of running too hot, so pumping in so much extra fiscal stimulus when under funding pressure will exacerbate all the dynamics we're already focused on in markets: weaker Treasuries, a depreciating dollar and a rush to commodities and real assets," Cudmore said.

The proposal also arrives as Trump acknowledges that significant fuel-price relief may not come until after the midterms. The national average for gasoline remains above the politically sensitive $ 4-per-gallon level, while diesel prices are at record highs. Trump also indicated that the Iran conflict could continue beyond the elections.

President Trump's approval rating is around 38%, according to reporting by The Guardian.

Vice President JD Vance said that these proposed post-election direct payments to Americans could be funded by revenue from Trump's wide-ranging tariff program.