“Japan’s population fell by more than 3 million over the past five years, according to official statistics released on Friday, a drop that underscores the depths of the country’s accelerating demographic crisis,” the New York Times reports.
Mamdani Endorses Challenger to Democratic Incumbent
“New York City Mayor Zohran Mamdani is endorsing the democratic socialist primary challenger to Rep. Adriano Espaillat, chair of the Congressional Hispanic Caucus,” Politico reports.
Scrutiny Turns Toward Citizens Who Antagonized Trump
New York Times: “The Justice Department’s examination of E. Jean Carroll’s lawsuits against President Trump could prove to be a significant shift in the administration’s campaign of retribution, moving from targeting of public officials to scrutinizing a case brought by an 82-year-old private citizen who has accused him of sexual assault.”
“What sets Ms. Carroll apart is the profoundly personal nature of her assertions about the president. And unlike other prominent figures facing investigative scrutiny — James B. Comey, Letitia James, Adam B. Schiff, John O. Brennan — Ms. Carroll, an author and columnist, never sought a public role, political power or governmental authority.”
Trump Professes Indifference Over Fallout
New York Times: “It is unlikely that the president does not actually ‘care’ about the midterms, the results of which will determine much of the success of the back half of his final term.”
“But Mr. Trump has increasingly adopted a posture of nonchalance in the face of mounting fallout on multiple fronts: an unpopular war that has dragged on longer than he said it would, the creation of a government fund that could benefit his allies, and his fixation on remaking Washington into his vision of a gilded city.”
Scott Bessent Confirms He’s Planning a $250 Bill
“Treasury Secretary Scott Bessent said on Thursday that his agency had been working on a mock-up of a $250 note bearing the face of President Trump in preparation for an addition to the nation’s paper currency that would for the first time include the portrait of a living president,” the New York Times reports.
“Such a move would represent a dramatic remaking of American money, which currently is only allowed to bear the image of the deceased. Mr. Trump has also pushed for the creation of a $1 coin bearing his image and is having his signature added to U.S. currency this year.”
Kalshi Launches Index to Measure Political Power
Axios: “Kalshi is launching the American Power Index, aiming to offer a holistic view of which party currently holds more power and where the tide may be turning.”
“The index blends current control of the House, Senate and White House with Kalshi’s real-time market forecasts on future electoral outcomes.”
Exchange of the Day
Treasury Secretary Scott Bessent was asked a question by CNN’s Kaitlan Collins:
COLLINS: About the $1.8 billion fund. Is it accurate that the general counsel of the Treasury Department resigned over that?
BESSENT: I will not be taking any other questions.
GOP Senators Rally Behind Ken Paxton
New York Times: “After Mr. Paxton trounced Senator John Cornyn of Texas by close to 30 points on Tuesday night, transforming Texas into a battleground state, Republicans have performed a very awkward pivot.”
“They quickly memory-holed months of scathing charges against Mr. Paxton that were as withering as any that Democrats might conjure up. And, swallowing their anger about the snub of Mr. Cornyn and its potential political consequences, they lined up to express varying levels of ‘all in’ on Mr. Paxton’s campaign, if not his character.”
Quote of the Day
“The only thing I want to hear from Jill Biden is I’m sorry.”
— Rep. Adam Smith (D-WA), quoted by CNN, on the former first lady’s book tour.
White House Has Not Released Results of Trump’s Physical
CBS News: “The White House has yet to release a summary of the results of President Trump’s latest physical exam, following his Tuesday visit to Walter Reed National Military Hospital.”
Bruce Springsteen Announces a Protest Festival
“Bruce Springsteen, Foo Fighters, Dave Matthews, Brittany Howard and Joan Baez will headline a star-studded protest festival set for the Washington, D.C., area a month before the midterm elections,” the Associated Press reports.
U.S. Officials Say Deal to Reopen Strait of Hormuz Is Close
New York Times: “U.S. officials are closing in on a framework for negotiations with Iran that could extend the cease-fire, lead to the reopening of the Strait of Hormuz and set the table for more substantive talks, according to three U.S. officials with knowledge of the discussions.”
“Mr. Trump has not signed off on the emerging framework, and it was not clear if it matched Iran’s understanding.”
Vance Says AI Shouldn’t Make Life-and-Death Decisions
Washington Post: “Vice President JD Vance said he is concerned about how artificial intelligence will be used in warfare and urged the military on Thursday to be cautious about the technology, remarks he made as the Pentagon moves forward with using AI on the battlefield.”
Some Artists Drop Out of Trump’s Concert Series
CBS News: “Some artists who were announced as performers for what’s being billed as a Great American State Fair amid President Trump’s push for a major American birthday bash this summer in Washington, D.C., dropped out of their appearances shortly after an initial lineup was released.”
Democrats Want Watchdog to Probe Iran War Costs
NOTUS: “Senate Democrats urged the nonpartisan Congressional Budget Office to check the Trump administration’s math when it comes to Iran war costs — accusing officials of lowballing.”
What Are Republicans Going to Campaign On?
Amber Phillips: “President Donald Trump’s approval ratings keep dropping. His handling of the economy is deeply unpopular. Even on immigration — one of his stronger issues — he doesn’t have majority support. Several Senate Republicans are now criticizing some of his major priorities, like a $1.8 billion legal payout fund for people who claim they were politically targeted or securing a $1 billion allocation tied to his White House ballroom. And polls show voters say they prefer Democrats over Republicans in Congress next year.”
“November’s midterm elections seem to be shaping up to be rough for the Republican Party, which is trying to hold onto control of Congress, governor’s mansions and some statehouses. So what do Republicans campaign on?”
What Biden Said Immediately After His Last Debate
The Atlantic reviews Jill Biden’s new memoir and includes this tidbit from the 2024 presidential debate:
“As the president walked off the stage, he whispered to his wife, ‘I really fucked up, didn’t I?’ she writes. ‘Yes, you did,’ I whispered back.”
Trump’s ‘Anti-Weaponization Fund’ Could Carry Big Tax Bill
“President Donald Trump isn’t supposed to directly profit from the dismissal of his lawsuit against the IRS,” Politico reports.
“And yet, he could still owe taxes on the money going to set up a central feature of that deal — the $1.8 billion Anti-Weaponization Fund.”
“Some tax practitioners say the way that the fund, which Acting Attorney General Todd Blanche announced May 18, is structured likely makes it an income tax liability for the president, potentially costing hundreds of millions of dollars.”
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