"Saturday Night Live" took aim at President Donald Trump’s new tariff policy and the growing backlash against Tesla in a biting political sketch this weekend, coining a new phrase to mock the president’s economic outlook: MAGDA — "Make America Great Depression Again."
"We’re [going to] do MAGDA," said cast member James Austin Johnson, reprising his role as Trump.
"Make America Great Depression Again. It’ll be better than great, it’ll be a fantastic, unbelievable depression."
The cold-open sketch kicked off with Trump brushing off recent market turmoil caused by his proposed tariffs, claiming it was "all part of the plan" and quipping, "There’s nowhere to go but up – or perhaps further down."
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"This depression’s [going to] be so great, we’ll be the ones eating the cats and the dogs. That’s [going to] be fun," he added.
L-R: Musical guest Brandi Carlile and Elton John, Host Jack Black, and Heidi Gardner during Promos in Studio 8H on Thursday, April 3, 2025. (Getty Images)
The sketch comes as the latest round of Trump tariffs went into effect earlier this week. This week's steep losses for the S&P 500 and the Nasdaq were among the worst in the past decade as stocks tumbled for a second day in a row.
President Trump urged Americans to give him time on the policy, writing on the social media platform Truth Social, "We are bringing back jobs and businesses like never before. Already, more than FIVE TRILLION DOLLARS OF INVESTMENT, and rising fast! THIS IS AN ECONOMIC REVOLUTION, AND WE WILL WIN."
The segment featured a parade of fictionalized administration figures, including Commerce Secretary Howard Lutnick, who appeared to distance himself from the tariffs, and Elon Musk as head of the Department of Government Efficiency (DOGE).
Musk, played by returning former cast member Mike Myers, joined "Trump" at the podium wearing a Wisconsin cheesehead and cracking jokes about both the state’s recent Supreme Court election and Tesla’s rough public image.
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FILE: Billionaire businessman Elon Musk arrives for a town hall wearing a cheesehead hat at the KI Convention Center on March 30, 2025 in Green Bay, Wisconsin. (Getty Images)
"That was from when I tried to buy the election in Wisconsin," Musk said about his headgear.
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"I’m an idiot, I should’ve just bought Wisconsin."
The sketch then introduced a fictional new Tesla innovation: a car that vandalizes itself. Myers-as-Musk unveiled the Tesla Model V, claiming it could autonomously draw crude images or graffiti, like a swastika, all without human input.
"Recently, our dealerships have been the target of so many attacks, and suddenly no one likes Tesla cars," Musk said.
"So I asked myself why? Then I answered myself, because of me."
He continued, "We are introducing the new Tesla Model V, the first electric car in history to be fully self-vandalizing. With features like self-smashing headlights, self-slashing tires, and AI-powered graffiti."
The sketch comes amid a spike in anti-Tesla incidents across the country. A recent Fox News report documented more than 50 cases of violence targeting Tesla vehicles, charging stations, and owners, including keying, hateful graffiti, arson, and even an alleged drive-by shooting.