U.S. Treasury Secretary Scott Bessent on Wednesday suggested that families skip traditional birthday and holiday gifts for children and instead funnel that money into so-called "Trump Accounts."
Speaking at the "Trump Accounts Summit," a promotional summit for the program, Bessent argued that relatives should contribute cash to investment accounts, managed by private firms and inaccessible until adulthood, rather than buying toys or other presents.
"Relatives, rather than giving a toy for a birthday, for a holiday, they can contribute to these accounts," said Bessent.
These accounts grant $1,000 to newborns whose parents open one, and others can contribute up to a certain amount each year until they turn 18. Until then, private firms invest that money in U.S. equity index funds while charging up to 0.10 percent in annual fees.
The idea is part of Trump's effort to appear as though he is tackling affordability issues, an idea similar to the one that helped win New York Mayor Zohran Mamdani the 2025 mayoral election.
Unfortunately, the kids can't touch that money until they turn 18, so this will not impact constituents' material conditions during the rest of his term. Meanwhile, one in five kids doesn't get enough to eat regularly in the U.S. today.
Skeptics compare the Trump Accounts to past Trump ventures
Trump critics found much to criticize about this plan, and the idea of ruining birthdays and holidays didn't help. Many remembered Trump's previous suggestion for tackling the cost-of-living crisis that launched the Donny Two Dolls meme.
"Isn't having one corn tortilla, a piece of broccoli and piece of chicken to eat on your birthday enough celebration?" joked @lachevron.bsky.social on Bluesky.
"This is not an SNL skit" wrote author Shannon Watts.
"The man is a Will Ferrell character and I refuse to believe otherwise," wrote @bobbypissbag.bsky.social.
"Inflation is so bad that Donny Two Dolls became Donny No Dolls," said @jaydeedouble.bsky.social.
Others expressed difficulty trusting in a plan with Trump's name on it, remembering ventures like Trump University, which faced multiple lawsuits alleging fraud.
"So it’s legal for the president to run a Ponzi scheme," @hankfinch.bsky.social concluded, "Boy am I shocked."
"So first it was, American kids have too many toys," @nocoguy.bsky.social recalled. "Now the administration says maybe don't give them any. Just make sure to send your money to this completely trustworthy Trump scam, er, account."
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