President Joe Biden mocked Donald Trump on Wednesday over his difficulty in obtaining a bond to allow him to appeal a New York civil court judgment amounting to $454 million.
The Context
Trump and Biden became their respective parties’ presumptive presidential nominees after securing a string of victories in primaries on March 12, likely setting up a rematch of the 2020 presidential election in November.
In February, Trump was ordered to pay a fine of $355 million after a New York judge concluded he engaged in business fraud by deliberately overvaluing some of his assets to receive more favorable bank loans. Once interest is included, the total penalty will come to more than $464 million.
Trump is seeking to appeal the ruling but to do so must pay the full figure as a bond which his legal team said on Monday was “practically impossible” for him to do. A number of companies declined to act as sureties for the bond after being contacted by Trump’s legal team.
What We Know
Speaking at a campaign fundraiser in Dallas, Texas, Biden joked that a man had come up to him to discuss his heavy debts.
He said: “Just the other day this defeated looking man came up to me and said: ‘Mr. President I need your help. I’m in crushing debt. I’m completely wiped out.'”
Biden said he then responded: “Donald, I’m sorry. I can’t help you.”
The audience, of around 100 people, then burst out laughing, according to a report by Mail Online.
The president also took aim at Texas Senator Ted Cruz, saying he hoped the crowd would not only help secure him a second term, but help Democrats win the state’s Senate election as well.
If this happens, he joked: “Ted Cruz joins another loser, Donald Trump.”
During his speech Biden, aged 81, cracked a joke about his age and mental agility which have been the subject of intense Republican scrutiny.
To laughter from the crowd, he joked “I’m 41” before contrasting himself with Trump by adding: “It’s about the age of our ideals.”
Rebecca Noble/Joe Raedle/GETTY
Biden went on to argue Trump bears responsibility to the irregular migrant crisis on the southern border as he opposed a bipartisan Senate bill aimed at tightening immigration restrictions and providing additional aid to American allies including Ukraine. However, House Speaker Mike Johnson refused to support the legislation saying it would be “dead on arrival” in the House.
The president commented: “Trump didn’t just bring chaos to Americans. He also brought chaos to the American border.”
In total, Biden spoke at two fundraising events in Dallas on Wednesday where he raised over $2.5 million for his re-election battle.
Newsweek contacted representatives of Donald Trump’s 2024 presidential election campaign by email at 3:30 a.m. ET on Thursday. This article will be updated if they decide to comment.
What’s Next?
Trump is required to produce the $454 million for bond or risk having his assets seized by New York Attorney General Letitia James.
James has said she intends to go down this path if necessary, commenting: “If he does not have funds to pay off the judgment, then we will seek judgment enforcement mechanisms in court. And we will ask the judge to seize his assets.”
Uncommon Knowledge
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.