Bonus Quote of the Day
“If it really is a picture that says ‘86 47’ — I’ve used ‘86’ a lot of times. I’ve never said it with the intent of killing somebody.”
— Sen. Thom Tillis (R-NC), quoted by the Washington Post, suggesting the indictment of former FBI director James Comey is flimsy.
Trump Loses Alex Jones
Conspiracy theorist Alex Jones laid into Trump over the Iran War, saying he “does not know what he’s talking about when it comes to military,” Media Matters reports.
CBS’ Ratings Calamity
New ratings data shows that Tony Dokoupil’s CBS Evening News “has continued to hemorrhage viewers and sink to new lows, as Bari Weiss’ hand-selected anchor struggles to hold the audience,” Status reports.
“According to the ratings data, the broadcast has now logged three consecutive weeks under 4 million viewers, a prolonged slump that was once unimaginable. The alarming audience erosion likely won’t be aided by the fact that summer is about to begin, suggesting that he may be stuck in the mud for some time. At the very least, it is not the narrative the David Ellison-owned network wanted saturating the public discourse as upfronts season gets underway.”
Oil Prices Rise Yet Again
CNBC: “Oil prices advanced again on Wednesday as traders balanced the United Arab Emirates’ shock departure from OPEC with indications that a near-term conclusion to the Iran war is unlikely.”
Barney Frank Has More to Say
Trump Officials Work to Bring Anthropic Back
Axios: “The White House is developing guidance that would allow agencies to get around Anthropic’s supply chain risk designation and onboard new models including its most powerful yet, Mythos.”
“Why it matters: The Trump administration appears to be performing a 180 on a company it previously claimed was such a grave security risk that it had to be ripped out of the federal government.”
Quote of the Day
“Pete Hegseth’s got a lot to answer to from this disastrous war.”
— Rep. Jason Crow (D-CO), quoted by Politico, ahead of the defense secretary’s appearance on Capitol Hill this morning.
Fewer Americans See Themselves Buying Homes
Semafor: “Only a quarter of Americans who don’t own homes expect to buy one in the next five years, a low point since Gallup started asking the question more than a decade ago.”
“Just 28% expect to buy a home within 10 years, while 45% don’t see themselves buying a home in the foreseeable future.”
North Korea’s Arsenal Outgrows U.S. Missile Defenses
Bloomberg: “North Korea’s nuclear arsenal is nearing a crucial tipping point: being big enough to possibly overwhelm the ground-based missile defenses the US spent billions developing over the last 30 years.”
Republicans Eye Capital Gains Tax Cut
Bloomberg: “Republican lawmakers are looking at ways to lower taxes on capital gains as the party searches for new ways to woo voters worried about the cost of living heading into November’s midterm elections.”
“A proposal to index capital gains for inflation could be in play for a tax-and-spending package later this year, though the likelihood of a bill coming together before the midterms remains a long shot. Some Republicans have also pushed President Donald Trump’s administration to make that change unilaterally.”
Iranians Feel the Pain as Economy Falls Apart
“War has imposed a heavy cost on Iran’s economy: more than a million people out of work, soaring food prices and a prolonged internet shutdown that has slammed online businesses,” the Wall Street Journal reports.
“The question is how much more pain Iran’s leaders are willing to tolerate as they try to negotiate a favorable end to the war.”
The Evolution of Trump’s Corruption
David Graham: “The way the two summits have been received feels like a case study in the differences between the first and second Trump presidencies.”
“In 2019, neither the press nor the public was yet so fatigued by news and numb to outrage, as New York magazine observed this week, nor were they yet accustomed to a president using his position to openly enrich himself… The Republican Party also had more leaders who were willing to criticize the president, either publicly or privately.”
“Finally, although Trump has never seemed especially vulnerable to shame, the president and his aides could still be swayed by sufficient embarrassment back then. The phrase shameless corruption gets used a lot, but Trump’s second term embodies it.”
Trump Tells Aides to Prepare for Extended Blockade of Iran
“President Trump has instructed aides to prepare for an extended blockade of Iran, U.S. officials said, targeting the regime’s coffers in a high-risk bid to compel a nuclear capitulation Tehran has long refused,” the Wall Street Journal reports.
“In recent meetings, including a Monday discussion in the Situation Room, Trump opted to continue squeezing Iran’s economy and oil exports by preventing shipping to and from its ports. He assessed that his other options—resume bombing or walk away from the conflict—carried more risk than maintaining the blockade, officials said.”
“Yet continuing the blockade also prolongs a conflict that has driven up gas prices, hurt Trump’s poll numbers and further darkened Republicans’ prospects in the midterm elections.”
Bloomberg: “The U.S. signaled it would stick with a naval blockade of Iranian ports, as it tries to choke-off Tehran’s oil exports and force it back to the negotiating table.”
It’s All Falling Apart for House Republicans
Punchbowl News: “The wheels are coming off the House Republican Conference.”
“In a week that was supposed to set the tone for a furious period of election-year legislating, Speaker Mike Johnson’s House GOP majority is once again the epitome of discord and dysfunction.”
“It’s not really clear how House Republicans will get through the next few days. Johnson’s leadership team may lose yet another big rule vote. There’s constant grumbling inside House Republican leadership circles as people snipe at one another. Senate Republicans are furious with their House GOP counterparts. The White House seems fed up with the chaotic House GOP conference too. Plus, the stakes couldn’t be higher, politically and policy-wise.”
Playbook: “Despite the weekslong standoff over how to proceed on all three priorities, House GOP leadership doesn’t appear to have the votes to advance anything.”
Democrats Hold Double-Digit Lead on the Generic Ballot
A new Emerson College national survey of likely voters finds Democrats have a 10-point advantage on the generic congressional ballot, leading Republicans 50% to 40%. Ten percent are undecided.
Prosecution Of Trump’s Foes Adds to GOP Headaches
“Republicans hoping their party’s standard-bearer will stay focused on voters’ priorities heading into the November midterms caught no relief on Tuesday as the Trump administration announced charges against former FBI director James B. Comey and an aide to former chief medical adviser Anthony S. Fauci, as well as a review of Disney’s broadcast licenses,” the Washington Post reports.
“The latest instances of turning government power against President Donald Trump’s critics and pursuing years-old grievances added to frustrations felt by Republicans who say the president isn’t doing enough to address the signature issues that won him a second term.”
Axios: Trump’s red-meat retribution.
The Global Energy Order Is Breaking Down
“The Iran war is scrambling the longstanding foundations of the oil market, ushering in a more fragmented and potentially more volatile energy world. The free flow of petroleum across oceans is out. Resource nationalism is in,” the Wall Street Journal reports.
Axios: Trump huddles with oil execs as Iran stalemate drags on.
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