4/30/25: GDP down 1st time in 3 years, Trump crashes at rally
The David Pakman Show
David Pakman
4.6 • 2.8K Ratings
🗓️ 30 April 2025
⏱️ 64 minutes
🧾️ Download transcript
Summary
-- On the Show:
-- Governor Gretchen Whitmer (D-MI) joins David to discuss her recent controversies with Donald Trump, including the Oval Office "hiding behind a binder' photo, appearing with Donald Trump in Michigan, and more
-- GDP declined in the first quarter of 2025 for the first time in three years as the impact of Donald Trump's economic instability had immediate consequences
-- Trump voters react and comment on Trump's first 100 days of his second presidential term
-- Donald Trump's interview with ABC's Terry Moran goes completely off the rails in every way imaginable
-- During a half-empty rally, Donald Trump crashes out, increasingly frustrated and unhinged
-- The White House's latest "new media" press briefing is indistinguishable from a Saturday Night Live skit
-- Donald Trump brags about bullying Jeff Bezos into having Amazon remove price advisories about the impact of tariffs on Amazon products
-- On the Bonus Show: Consumer confidence sinks to lowest level in 5 years, SCOTUS weighs in on law enforcement being accountable when they raid the wrong house, Congress passes bill to fight deepfake nudes, much more...
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Transcript
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| 0:00.0 | Well, that didn't take very long at all. |
| 0:10.1 | Three months into Donald Trump's second term, the economy is already shrinking. |
| 0:17.0 | Shelves are expected to start going empty. |
| 0:19.5 | My local grocery store hasn't had a single |
| 0:21.4 | carton of eggs the last four times I've been there. And hiring is freezing up with worsening |
| 0:27.2 | jobs numbers. And as we speak, as I am coming to you today, do not adjust your television. |
| 0:32.6 | This is a new show. The stock market is again down two percentage points once again. |
| 0:40.6 | So here's what's going on. |
| 0:42.6 | The American economy shrank in the first quarter of this year. |
| 0:46.3 | We measured that by looking at the GDP gross domestic product. |
| 0:50.3 | It was expected to be somewhere between declining and up slightly most recently. |
| 0:56.1 | And we now have the final numbers from Q1, negative growth, 0.3%. |
| 1:02.1 | That is a significant reversal from the 2.4% growth that we saw at the end of 2024 under |
| 1:09.5 | President Joe Biden. |
| 1:10.6 | It is well below the 0.4% growth consensus. that we saw at the end of 2024 under President Joe Biden. |
| 1:11.2 | It is well below the 0.4% growth consensus from economists. |
| 1:16.3 | And of course, the Atlanta Fed's GDP now indicator did expect a decline. |
| 1:21.6 | It turns out we got one negative 0.3%. |
| 1:26.0 | This is the first economic contraction in three years for the United States. |
| 1:31.3 | That's 12 consecutive quarters roughly. It might have actually been 13. |
| 1:36.6 | Three consecutive years of every quarter, the economy grows a little bit, grows a little bit, grows a little bit, grows a little bit. |
| 1:44.1 | And now Donald Trump's first quarter back in office and we see a GDP decline. |
... |
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