Moody’s downgraded the credit rating of the United States by a notch to “Aa1” from “Aaa”, citing rising debt and interest “that are significantly higher than similarly rated sovereigns,” Reuters reports.
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The Republican Finger Pointing Begins
Punchbowl News: “There is a ton of blame going around right now for today’s GOP debacle in the House Budget Committee.”
“There’s a healthy amount of anger toward Johnson. Some of this is legitimate. He did leave a lot of these decisions to the last minute.”
“But the White House seems extremely annoyed with Arrington for holding a vote on a package that wasn’t going to pass the committee. Republican leadership did want to proceed with the vote, or at least that’s what they told us.”
J.D. Vance Is Clear Favorite to Win 2028 GOP Nomination
A new J.L. Partners survey found 46% of Republican voters are ready to back Vice President J.D. Vance as President Donald Trump’s successor, while no other named prospect got more than double-digit support.
Just 8% would back Florida Gov. Ron DeSantis, while 7% supported Vivek Ramaswamy. Secretary of State Marco Rubio and Sen. Ted Cruz (R-TX) each received 6% support.
Trump Wants to Move 1 Million Palestinians to Libya
“The Trump administration is working on a plan to permanently relocate up to 1 million Palestinians from the Gaza Strip to Libya,” NBC News reports.
“In exchange for the resettling of Palestinians, the administration would potentially release to Libya billions of dollars of funds that the U.S. froze more than a decade ago.”
Justices Block Trump from Using Alien Enemies Act
“The Supreme Court on Friday blocked President Donald Trump from moving forward with deportations under the 1798 Alien Enemies Act for a group of immigrants in northern Texas, siding with Venezuelans who feared they were poised for imminent removal under the sweeping wartime authority,” CNN reports.
“The decision is a significant loss for Trump, who wants to use the law to speed deportations – and avoid the kind of review normally required before removing people from the country.”
NBC News: Supreme Court rules Trump administration must give Venezuelans more time to challenge deportation under Alien Enemies Act.
Consumer Sentiment Sinks to Near Record Low
“U.S. consumers are becoming increasingly worried that tariffs will lead to higher inflation, according to a University of Michigan survey released Friday,” CNBC reports.
“The index of consumer sentiment dropped to 50.8, down from 52.2 in April, in the preliminary reading for May. That is the second-lowest reading on record, behind June 2022.”
Dave Yost Exits Ohio Governor’s Race
Ohio Attorney General Dave Yost (R) has suspended his campaign for governor, clearing the field in the Republican primary for Vivek Ramaswamy (R), Politico reports.
Said Yost: “I do not wish to divide my political party or my state with a quixotic battle over the small differences between my vision and that of my opponent. I am simply not that important.”
Quote of the Day
“This isn’t ‘The Hunger Games’ for immigrants. This is not, ‘Hey, if you lose, we are shipping you out on a boat out of the country.'”
— Television producer Rob Worsoff, quoted by the Wall Street Journal, confirming that he’s working with the Department of Homeland Security on a reality television show.
The New MAGA World Order
Jonathan Chait: “It appears that Trump does care about the internal character of regimes he deals with. Rather than following a foreign policy that ignores values altogether, Trump has a clear preference for values that are, in the American context, historically anomalous or—to put it in less neutral terms—bad. And he wishes to spread those values around the world.”
“Whatever you say about this policy, it is not amoral. The primary difference between the Trump doctrine and traditional American values promotion is that the former, rather than seeking to impose a moral world order, aspires to create an immoral one.”
House Budget Committee to Reconvene Sunday Night
“The House Budget Committee is planning to reconvene Sunday at 10 p.m. to vote again on Republicans’ reconciliation package,” Punchbowl News reports.
New York Times: “It was not clear what changes to the legislation, if any, Republican leaders agreed to make before they meet again.”
$40,000 SALT Offer Discussed with Holdouts
“House GOP leaders discussed a new, heightened state-and-local-tax deduction with a group of Republican holdouts as they race to salvage their party-line megabill from ruin,” Politico reports.
“A $40,000 cap on the key deduction for individuals and $80,000 cap for joint filers was part of a list of items GOP leaders raised overnight as they scrambled to shore up ultraconservative votes.”
Three Friends All Rise to Power at the Same Time
NOTUS: “It’s an already-made-for-TV story: three politicians, all close friends, all rising to power at the same time. For Sens. Chris Murphy, Brian Schatz and Cory Booker, it’s reality.”
“For now, the trio’s different lanes are clear in the short term. The long term is hazier, particularly with an open 2028 Democratic presidential primary on the horizon and turnover in Senate Democratic Caucus leadership bound to happen at some point… Each of the three — in their own unique ways — seems positioned to make a move.”
Republicans Try to Get Fetterman to Switch Parties
Washington Post: “Republicans see an opening and are openly courting Fetterman to join their 53-seat majority, even though the senator from Pennsylvania has said repeatedly he would never join the GOP.”
“Fetterman spent time Monday evening in the Republican cloakroom off the Senate floor, bonding with some of his friends on the other side of the aisle.”
Said Sen. John Barrasso (R-WY): “We’re always looking to increase the number of our caucus and I’ve enjoyed working with him. And we talk regularly. We talked last evening. We most certainly welcome him.”
There Might Not Be Any Middle Ground
Punchbowl News: “Is this a death knell for the centerpiece of Trump’s domestic agenda? No, definitely not. But it is a loud message to Johnson and top House Republicans that the legislation needs to be overhauled in order to win passage.”
“It’s not that simple, though. The House Republican leadership is walking a fine line here. The middle of the GOP conference – moderates who gave Republicans the majority – are unlikely to accept the drastic changes that hardliners are seeking. At some point, it may just become obvious that there isn’t a middle ground between the right and the middle of the House Republican Conference.”
Trump Takes Credit for Deals on Biden’s Watch
“The White House this week labeled President Donald Trump ‘the dealmaker in chief,’ claiming he has secured more than $2 trillion in investment agreements during his tour through oil-rich Middle Eastern monarchies,” the Washington Post reports.
“As Air Force One touched down in Saudi Arabia, Qatar and the United Arab Emirates, the White House released daily lists of the dozens of deals that it said Trump had secured during his visits. But at least half a dozen of the contracts were announced before Trump even took office in January.”
House Budget Committee Votes Down Megabill
The House Budget Committee voted down Speaker Mike Johnson’s reconciliation bill, dealing a massive blow to House Republican leadership and President Donald Trump, Punchbowl News reports.
The final tally wasn’t even close, with 16 yes votes and 21 no votes.
NBC News: “Negotiations with the GOP holdouts will continue in the coming days and Republicans on the panel will try to regroup as soon as Monday.”
We discussed the GOP’s struggles with the bill on Trial Balloon.
The Mad Dual-Hatter
David Graham: “Unemployment rates are near historical lows, and finding good help is hard. Perhaps that’s why Donald Trump keeps turning to the same group of officials to fill multiple positions.”
“The government has a term for this: dual-hatting. Or rather, a term exists for what Blanche, Vought, and Patel are doing. Rubio is breaking new ground in both semantics and government. Some dual-hat roles exist by design. The head of the U.S. Cyber Command and the National Security Agency are the same person, to increase agility when dealing with cybersecurity threats, though some people believe that the roles should be split.”
“In these other cases, however, Trump either can’t or won’t find someone to actually fill the role. Neither possibility is encouraging. If he can’t, at this early stage in his administration, find enough qualified people willing to do these jobs, then the rest of his term will be a continuous struggle to execute. If he simply won’t, because he would rather stick with a small circle of figures he trusts, the administration will also be beset by dysfunction, as leaders pulled in too many directions drop balls, as well as by dangerous incompetence and conflicts of interest.”
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