Economy Shrinks, Trump Blames "Biden Overhang" & Says Kids Getting Fewer Dolls Isn't a Big Deal

Well folks, the first official economic report card for President Trump's second term is in, and let's just say it wouldn't make the honor roll. The Commerce Department reported today, Wednesday, April 30th, that the U.S. economy actually shrank by 0.3% in the first quarter of 2025. That's the first contraction in three years, coming right on the heels of the administration unleashing its chaotic global tariff regime.

So, how did President Trump react to this less-than-stellar news hitting just shy of his 100-day mark? Did he acknowledge the potential impact of his trade policies that have sent markets reeling and businesses scrambling? Did he express concern for American families facing potentially higher prices?

Don't be silly.

According to Politico and the AP, President Trump promptly denied his tariffs had anything to do with the economic contraction. Instead, he blamed... wait for it... a "Biden 'Overhang'." Yes, apparently, the ghost of the previous administration is still haunting the GDP numbers.

But the real pièce de résistance, the quote that perfectly encapsulates the WTF-ness of the response, came when discussing the impact of his tariffs (you know, the ones not responsible for the shrinking economy) on everyday Americans. Downplaying the rising costs consumers face, Trump mused: "Maybe the children will have two dolls instead of 30 dolls... So maybe the two dolls will cost a couple bucks more than they would normally."

Just let that sink in. The President's take on potential widespread price hikes squeezing American families is essentially: "Eh, kids don't need that many toys anyway." It's a level of dismissiveness that's truly breathtaking.

Now, let's fire up the hypocrisy time machine, shall we? Cast your minds back to January 29th, 2024. The stock market was doing well under Biden, but Trump wanted the credit. He tweeted then, in all caps glory: "THIS IS THE TRUMP STOCK MARKET BECAUSE MY POLLS AGAINST BIDEN ARE SO GOOD THAT INVESTORS ARE PROJECTING THAT I WILL WIN, AND THAT WILL DRIVE THE MARKET UP — EVERYTHING ELSE IS TERRIBLE (WATCH THE MIDDLE EAST!), AND RECORD SETTING INFLATION HAS ALREADY TAKEN ITS TOLL. MAKE AMERICA GREAT AGAIN!!!"

See the pattern?

• January 2024: Stock market up? That's my future greatness pulling it up! Everything bad now? That's Biden!

• April 2025: Economy shrinks under my watch? That's the "Biden Overhang"! Rising prices from my tariffs? Who cares, kids get fewer dolls!

Heads I win, tails you lose (or rather, heads I win, tails Biden loses). The intellectual whiplash is intense. When the economic indicators looked good before he was even in office, he claimed predictive credit. Now that the first indicator under his administration looks bad, it's suddenly the fault of the guy who hasn't been president for over a year.

It's a masterclass in blame-shifting and minimizing the real-world consequences of his administration's actions. Forget owning the economy; it seems President Trump only wants custody when it's behaving well. For today's dose of WTF, enjoy the spectacle of economic reality colliding head-on with presidential spin... and maybe hold onto your kid's third doll, just in case.

Sources:

• Politico. "Latest and breaking political news today." (Reporting GDP shrink and Trump blaming "Biden 'Overhang'"). April 30, 2025.

• AP News. "The Senate is voting on whether to block Trump's global tariffs amid economic turmoil." (Reporting Trump's "two dolls instead of 30" comment). April 30, 2025.