Trump Loses It on ‘Stupid’ People Who Are Unhappy With Intel Deal: ‘I PAID ZERO’

(Jacquelyn Martin/AP photo)

President Donald Trump slammed all the “stupid people” who are unhappy with the federal government’s purchase of 10% of Intel, asking, “Who would not want to make deals like that?”

Trump spoke out about the acquisition of the beleaguered computer chip-maker amid widespread disappointment over the deal, which conservatives slammed as a step toward “socialism.”

Taking to Truth Social Monday morning, the president posted:

I PAID ZERO FOR INTEL, IT IS WORTH APPROXIMATELY 11 BILLION DOLLARS. All goes to the USA. Why are “stupid” people unhappy with that? I will make deals like that for our Country all day long. I will also help those companies that make such lucrative deals with the United States States. I love seeing their stock price go up, making the USA RICHER, AND RICHER. More jobs for America!!! Who would not want to make deals like that?

Trump announced the deal on Friday, saying, “It is my Great Honor to report that the United States of America now fully owns and controls 10% of INTEL, a Great American Company that has an even more incredible future.”

(Truth Social screenshot)

The move was also the subject of a Wall Street Journal editorial, which slammed the president for turning Washington, D.C., into “Chinatown.”

While it doesn’t happen often, the government’s purchase of Intel is not unprecedented, according to the Associated Press, which notes that the government pumped nearly $50 billion into General Motors in return for a nearly 60% stake during the 2008 Great Recession, when the automaker was on the verge of bankruptcy.