Donald Trump On Letterman: Mogul Defends $5 Million Obama Offer (VIDEO)

Trump Calls For Romney's Tax Returns

Donald Trump buried the hatchet with David Letterman on Thursday, stopping by "Late Show" to defend his recent offer to donate $5 million to charity if President Obama releases his college transcripts and passport records. While there, he admitted that his preferred candidate, Mitt Romney, should release his tax returns if the President will release his records.

After Dave told Trump that he believes that the President should be "above coercion or simple blackmail," the two men agreed that Romney should release his long-withheld tax records.

"I'm sure he would do it," Trump agreed. "The swap I like? His tax returns for Obama's college records and passport records."

"You and I split the $5 million," Letterman quipped.

On Wednesday, Trump loudly touted that he had a "big announcement" that could change the course of the presidential election. But upon making the announcement, he was widely mocked for demanding to see records that most deem unsubstantial. Barbara Walters, a friend of Trump, told him that he was "making a fool of himself."

Meanwhile, President Obama laughed off Trump's offer by saying their feud went back to when they grew up together in Kenya, and Stephen Colbert counter-offered Trump $1 million if Trump would let him dip his balls in his mouth.

Trump has been going on Letterman's show since 1987, but Thursday's "Late Show" marked the first time he sat on Dave's couch since he publicly blasted the show after Letterman implied he was a racist for his birth certificate shenanigans. After Letterman apologized, Trump tweeted, "Thank you David--we are again friends."

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