On Monday, President Donald Trump rang the morning bells for the New York Stock Exchange and Nasdaq from the Oval Office to celebrate the launch of Trump Accounts. 

My colleague Ben Smith recently reported on many of the details of the Trump Accounts. 

READ MORE: Only Trump Would Think of Ringing Both Wall Street Opening Bells From the Oval Office

Trump explained further on Monday how much this could help benefit American children. The accounts were created under the One Big Beautiful Bill. 

"On Saturday, July 4th, our administration deposited one-time seed contributions, $1,000 each, into the Trump Accounts of over 500,000 American children. It's a lot, and millions more will be getting additional contributions from generous donors," Trump said, noting the $6.25 billion contribution made by Michael and Susan Dell, who contributed $250 to the accounts of children 10 and under.

"Children that are born without money, without any money – great parents, every thing can be great, but they have no money – they can become very wealthy children at 18. They can flip, or their people can flip it over into other vehicles at a certain age so that they don't take it out, I would recommend that they probably don't take it out," the president added citing growth in the stock market.

Sen. Ted Cruz (R-TX) noted how, instead of government "taking care of everyone," this then gives a child the opportunity to be an active owner and build money that they will have in the future. 

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Trump also made a humorous comment about Cruz and the Supreme Court during the event. Trump noted that Cruz might be the only candidate for the Supreme Court on whom all the senators would agree — because the Democrats would want to get him out of the Senate. 

I think he was kidding. The Dems definitely would want him out of the Senate, but Cruz would give the left fits on the Supreme Court.