Axelrod suggests a charity for Trump's $5 million offer

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"I know that Donald was putting five million dollars up, I think in a foolish cause," Axelrod said Thursday on MSNBC's "Morning Joe. "So if he's watching, I think that would be a better use of his money."

Trump, not normally known for his rhetorical restraint, nevertheless responded on Twitter that he would send a check and his daughter says "hi."

Trump, a Mitt Romney supporter, last month offered Obama $5 million "to the charity or charities of his choice" in exchange for releasing his college and passport applications. The real estate mogul and host of NBC's reality show The Apprentice claims Obama is hiding information in those documents, and also said the fact that Obama did not release them by Trump's end-of-the-month deadline proved it.

Prior to the election, Axelrod had promised "Morning Joe" host Joe Scarborough that he would shave his trademark mustache if Obama lost Minnesota, Michigan or Pennsylvania in the election.

Obama won all three states on Tuesday, but on Thursday's show, Axelrod promised he would still shave the mustache if they could raise a million dollars for CURE (Citizens United for Research in) Epilepsy.

"Epilepsy research is the cause of my life," explained Axelrod, whose daughter Lauren has epilepsy.

Scarborough, who had promised to grow a mustache if he lost the bet, kicked off the campaign with a $10,000 donation, according to the fundraising website. Axelrod said he considered it a "fair deal" in exchange for letting Scarborough off the hook. Scarborough is also required to wear a fake mustache, but not on air.

Updated at 3:56 p.m.