“Speaker Mike Johnson will meet with a small group of House Republicans on Thursday afternoon who will use the meeting to push to make a congressional stock trading ban part of the GOP’s agenda,” Bloomberg reports.
Why Four Republicans Broke Ranks with Mike Johnson
“Four House Republicans snubbed Speaker Mike Johnson (R-LA) and teamed up with Democrats to force a House vote on a three-year extension of expiring Obamacare funds,” NBC News reports.
“All of them have one thing in common: They face re-election in swing districts in next year’s midterm elections.”
“And since the GOP hasn’t come up with a replacement plan, voters will have little doubt about whom to blame when those premium hikes hit.”
Trad-Wife in Chief
Tess Owen: “When I started to listen to the much-hyped new podcast from Katie Miller, I’d hoped to learn something, anything, to justify the many irreplaceable hours of my life I had already committed to it. I wanted a salacious tidbit or quote from one of the nearly 20 episodes that have dropped since August. I wanted moments that might help me understand the kind of person who would be married to Stephen Miller, the White House deputy chief of staff and architect of many of the Trump administration’s harshest and darkest policies.”
“I did not get any of these things. The podcast, I’m afraid, is eye-wateringly boring—void of a single revelatory moment.”
Trial Balloon Mailbag
We’ll have a new episode of Trial Balloon for members tomorrow morning.
Next week, though, we’re turning the show over to you. Send us your questions and we’ll tackle them on the podcast.
Inflation Cooled Last Month
“Consumer prices rose less than expected in November, giving investors hope that inflationary pressures may be cooling enough for the U.S. monetary policy to be eased more than Wall Street anticipates,” CNBC reports.
“The consumer price index rose at a 2.7% annualized rate last month, a delayed report from the Bureau of Labor Statistics showed. Economists polled by Dow Jones expected CPI to have risen 3.1%.”
Another Youth Challenge for Democrats
Evan Turnage (D), who is 33 years old, announced that he would challenge 77-year old Rep. Bennie Thompson (D-MS) in a primary, a decision that sets up yet another battle between a senior incumbent and a younger opponent, Mississippi Today reports.
Said Turnage: “This is the poorest district in the poorest state in the country. It was that way when I was 1-year old, when Congressman Thompson was first elected, and it remains that way today. We need real plans for real change.”
Trump Media to Merge With TAE Tech
President Trump’s media company Trump Media & Technology agreed to merge with fusion power company TAE Technologies in an all-stock deal worth more than $6 billion, the Wall Street Journal reports.
The deal intends to combine Trump Media & Technology’s “access to significant capital” and TAE’s “leading fusion technology” to supply power for the artificial-intelligence technology boom.
Trump’s ‘Malaise’ Moment
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Quote of the Day
“Those members need not ask me for any help in their campaigns whatsoever.”
— Rep. Eric Burlison (R-MO), quoted by Axios, after several Republican colleagues signed a discharge petition to force a House vote on expiring Obamacare subsidies.
Saying Goodbye to a Presidency Ritual
Jonathan Bernstein: “Donald Trump may have finally killed off the presidential prime time address with his lecture at the American people Wednesday night.”
“For better or worse, it’s a ritual that no longer makes much sense. It worked during the era (roughly from Dwight Eisenhower through Ronald Reagan) when most voters were watching television at night and tuned in to one of the big three networks. Once that eroded, it became essentially impossible to assemble huge audiences – or to signal, via the TV networks breaking into the regular programming that everyone (almost) was watching, that the president’s words were important.”
Trump Says Things Are Better Than You Think
“A fiery President Trump — addressing Americans from a holiday-decked White House — insisted the economy is stronger than people think it is and any problems are all Democrats’ fault,” Axios reports.
“It’s a message that poll after poll says most voters don’t believe.”
“Trump’s speech was closer to a Festivus airing of grievances than a Christmas message of hope, as he ran through a litany of problems — inflation, wage growth, the border, crime — that he said were entirely the fault of the Biden administration, and that he insisted he’d already fixed.”
Epstein Files Must Be Released by Friday
“One of the sponsors of the law requiring the release of the investigative files relating to sex offender Jeffrey Epstein said he’s giving the Justice Department the ‘benefit of the doubt’ that it will make the files public by Friday — warning that there would be repercussions if it doesn’t,” NBC News reports.
Epstein and Trump Bonded Over the Pursuit of Women
New York Times: “The two men’s relationship was both far closer and far more complex than the president now admits.”
“Beginning in the late 1980s, the two men forged a bond intense enough to leave others who knew them with the impression that they were each other’s closest friend, The Times found. Mr. Epstein was then a little-known financier who cultivated mystery around the scope and source of his self-made wealth. Mr. Trump, six years older, was a real estate scion who relished publicity and exaggerated his successes. Neither man drank or did drugs. They pursued women in a game of ego and dominance. Female bodies were currency.”
“Over nearly two decades, as Mr. Trump cut a swath through the party circuits of New York and Florida, Mr. Epstein was perhaps his most reliable wingman.”
Trump’s Approval Flips Since Start of Year
The final Emerson national survey of 2025 finds President Trump with a 41% job approval rating and 50% job disapproval.
The president’s approval and disapproval numbers have flipped since his inaugural survey, from 41% disapproving to 41% approving, and 49% approving to 50% disapproving.
A Combative Trump Yells at the Nation
New York Times: “Mr. Trump, always more comfortable with what he calls his ‘weave’ of free association rather than reading from a teleprompter, raced through his talk as if he was late to an important dinner. There were no digressions, unlike his speech in Pennsylvania a week ago when he repeatedly veered from the topic. At times he seemed to be yelling — almost as if he didn’t believe he had to take the time to convince his audience of how well his first 11 months had gone.”
Washington Post: “Trump crammed his usual 90-minute rally routine into 18 minutes of prime-time broadcast television on Wednesday, perplexing ‘Survivor’ finale viewers and his own allies alike.”
“He spoke more than 2,600 words in that time, markedly faster than his usual plodding pace at the teleprompter. His purpose was to ease concerns about the economy and to persuade Americans that he gets it. Afterward, even his own allies puzzled over whether the president did more harm than good with his rushed delivery and harsh tone.”
Affordability Disrupting Politics Around the World
“The affordability crisis that upended global politics last year continues to ripple across some of the world’s biggest democracies — punishing incumbents and undermining longstanding political alliances,” Politico reports.
These House Republicans Won’t Commit to Running
NOTUS: “Rumors are swirling around Capitol Hill about an impending mass exodus of House Republicans following a number of surprise retirement announcements over the past few months.”
“With estimates about the number of Republicans ready to leave the House hovering around two dozen, NOTUS asked more than half of the House Republican Conference — over 120 members — whether they were considering another run for Congress or a run for the exits. While most lawmakers emphatically declared their intentions to run again, several mysteriously declined to commit to seeking reelection.”
Advantage Democrats
Punchbowl News: “So in less than two weeks, millions of Americans will see a huge spike in their premiums or they’ll lose coverage as Congress goes over the Obamacare cliff.”
“This plays into the growing economic fears felt by many Americans. President Donald Trump spoke to this issue in his Wednesday night address from the White House, although it’s clear Republicans are going to have to go a lot further than he did if they want to turn things around.”
“In fact, if you zoom out right now, congressional battles are being played, in large part, on Democrats’ turf. They have Republicans talking about health care. Johnson says House Republicans will spend a good chunk of next year on the issue, a topic on which the GOP is typically weak. Next month also will be about government funding and social programs, which again favor Democrats.”
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