In lengthy public comments at a Cabinet meeting on Monday, President Trump railed against media criticism of his decision — which he has since walked back — to hold next year's G7 summit at his Doral resort in Miami.

"I don't know if you know it — George Washington, he ran his business simultaneously while he was president. There weren't too many really rich presidents, but there were a few. They ran their business. Hey, Obama made a deal for a book. Is that running a business? I'm sure he didn't even discuss it while he was president. Yeah, yeah. He has a deal with Netflix. When did they start talking about that? That's only a couple of examples. ... I don't think you people with this phony emoluments clause — and by the way, I would say that it's cost me anywhere from $2 billion to $5 billion to be president. And that's OK.

Why it matters: Throughout his presidency, Trump has faced allegations that he and his family have abused the office of the presidency to enrich themselves. His G7 decision drew bipartisan scrutiny at a time when Trump needs Republicans in Congress to remain loyal as he weathers an impeachment inquiry.

Reality check: The emoluments clause of the Constitution is not "phony."

  • It states: "No Title of Nobility shall be granted by the United States: And no Person holding any Office of Profit or Trust under them, shall, without the Consent of the Congress, accept of any present, Emolument, Office, or Title, of any kind whatever, from any King, Prince, or foreign State."
  • In December, a federal appeals court in Virginia will hear an emoluments case brought by the state of Maryland and the District of Columbia that alleges Trump has profited from the presidency with the Trump International Hotel in Washington, D.C.
  • Trump's claim on Monday that the presidency has cost him anywhere from $2 billion to $5 billion is impossible to verify because he has not followed the modern presidential tradition of releasing his tax returns.

Go deeper: Mulvaney says Trump was "honestly surprised" at level of backlash over G7 decision

Go deeper

Updated 12 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 2 p.m. ET: 18,147,574 — Total deaths: 690,573 — Total recoveries — 10,753,815Map.
  2. U.S.: Total confirmed cases as of 2 p.m. ET: 4,687,828 — Total deaths: 155,062 — Total recoveries: 1,468,689 — Total tests: 56,812,162Map.
  3. Politics: White House will require staff to undergo randomized coronavirus testing — Pelosi says Birx "enabled" Trump on misinformation.
  4. Business: Virtual school is another setback for retail — The pandemic hasn't hampered health care.
  5. Public health: Former FDA chief says MLB outbreaks should be warning sign for schools.

Filing suggests Manhattan DA is investigating Trump for possible fraud

Photo: Brendan Smialowski/AFP

The Manhattan District Attorney's office suggested for the first time Monday that it's investigating President Trump and his company for "alleged bank and insurance fraud," the New York Times first reported.

The state of play: The disclosure was made in a filing in federal court that seeks to force accounting firm Mazars USA to comply with a subpoena for eight years of Trump's personal and corporate tax returns.

House Democrats subpoena top Pompeo aides in probe of IG firing

Mike Pompeo. Photo: Jim Lo Scalzo-Pool/Getty Images

The Democratic chairs of the House Oversight and House Foreign Affairs committees announced subpoenas Monday for four State Department officials as part of their investigation into the firing of former Inspector General Steve Linick.

Why it matters: The two committees, in addition to Democrats on the Senate Foreign Relations Committee, are investigating whether Linick was fired because he was probing Secretary of State Mike Pompeo and the State Department's attempts to bypass Congress to sell weapons to Saudi Arabia and the United Arab Emirates.