'Everybody else will get slaughtered': Ex-WH official says 'cruel' bill only for the rich

Rahm Emanuel, ex-chief of staff for former President Barack Obama, said Friday President Donald Trump's exclusive dinner for crypto investors who bought his meme coin "puts up a for sale sign in front of the White House."

During a Friday appearance on CNN, the former Chicago mayor noted that Trump previously said he was going to "drain the swamp."

"The White House is beginning to look like beachfront property to that swamp," Emanuel said, adding that "this is just a litany of a lot of things that are more than just unseemly."

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Emanuel, who served as the United States ambassador to Japan under former President Joe Biden, said that a Chinese company affiliated with the Chinese Communist Party put $300 million into Trump's cryptocurrency company.

"So, there's literally no barriers to the kind of thing that's for sale. And if it's not nailed down, they're going to be selling it out of the White House," he told host Anderson Cooper.

In response to Cooper's question about Trump's "Big, Beautiful Bill" that passed the House on Thursday, Emanuel said "very wealthy people are going to get taken care of from a tax position, and people are going to give up their healthcare."

"Those who are well-heeled got taken care of at the White House. A lot of retail investors lost in that Bitcoin effort. That's exactly what's going to happen in the budget deal," he said.

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The former envoy described the GOP's reconciliation bill as "very target-rich for the basic narrative: corrupt, cruel and chaotic."

"Those who are well connected are going to get fed. Everybody else will get slaughtered," Emanuel said.

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