Adam Bonica: “I analyzed over 40 years of Forbes 400 data and found a striking pattern: billionaire wealth grows significantly faster under Democratic administrations (+57.1% average growth) compared to Republican ones (+16.5%).”
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Trump’s Affinity for Putin Grows More Consequential
New York Times: “The relationship between Mr. Trump and Mr. Putin has for years been scrutinized by American government inquiries, assessments by foreign intelligence services and news media investigations. Taken together, they have unearthed evidence to support an array of theories addressing Mr. Trump’s affinity for a Russian strongman who has spent a career trying to undermine American interests.”
“As yet, there is no single, tidy explanation. But based solely on Mr. Trump’s public actions during his first six weeks back in office, the simple fact is that he has made few decisions on national security or foreign policy that have not been cheered by the Kremlin, making his stance toward Mr. Putin more consequential than ever.”
GOP Infighting Stalls Trump’s ‘Big, Beautiful’ Tax Bill
“President Trump’s tax-cut plans are grinding through Congress in slow motion. The tax cuts themselves aren’t really the reason why,” the Wall Street Journal reports.
“Republicans, who control the House and Senate, are divided over the size of spending reductions that accompany tax cuts, which budgetary yardstick they use and whether a debt-ceiling increase should be attached. The Senate still hasn’t fully blessed the House strategy to pass one bill that would address the fiscal matters along with border security, after months of debate over whether to split Trump’s priorities into two or even three party-line bills.”
“Until all the questions are formally resolved with an agreement between House and Senate Republicans, Congress can’t unlock the door to the fast-track process that circumvents Senate Democrats. And until they unlock that door—which could take weeks or months—Trump’s ‘one big, beautiful bill’ is stranded outside in the cold, straining relations between the chambers and testing some lawmakers’ patience.”
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Trump Threatens New Tariffs on Canada
“A day after offering Canada a one-month reprieve on punishing, virtually across-the-board 25% tariffs, President Donald Trump has threatened new tariffs as soon as Friday on Canadian lumber and dairy products,” CNN reports.
“It’s yet another twist in a serpentine trade policy that seems to shift on an hourly basis.”
Trump Tightens Grip on FBI
Wall Street Journal: “While every FBI director since J. Edgar Hoover has taken pains to keep the White House at arms length, the new Trump administration has taken the opposite tack, working to bring the traditionally independent ethos of the FBI and Justice Department firmly within the president’s grasp.”
“Patel’s determination to keep in close contact with President Trump himself is an arrangement outside the traditional chain of command in which the FBI director reports to the deputy attorney general, and the president usually talks only to the attorney general.”
Democrats Are Busy Fighting Over What to Fight Over
Wall Street Journal: “Their diverging strategy perspectives reflect a schism inside the party over Democrats’ most promising pathway back to power. Progressives want constant action and are urging core supporters to flood town hall meetings and congressional phone lines to demand an aggressive response to Trump. Moderates say that approach risks turning off centrist voters in highly competitive districts—such as Suozzi’s—who dislike partisan politics and vote their pocketbooks.”
Premier Says Poland Must Look at Nuclear Options
Warning that a “profound change of American geopolitics” had put Poland, as well as Ukraine, in an “objectively more difficult situation,” Prime Minister Donald Tusk of Poland on Friday said his country must drastically increase the size of its military and even “reach for opportunities related to nuclear weapons,” the New York Times reports.
A Europe in Emotional Shock
“For decades a core objective of the Soviet Union was to “decouple” the United States from Europe. Decoupling, as it was called, would break the Western alliance that kept Soviet tanks from rolling across the Prussian plains,” the New York Times reports.
“Now, in weeks, President Trump has handed Moscow the gift that eluded it during the Cold War and since.”
“Europe, jilted, is in shock. The United States, a nation whose core idea is liberty and whose core calling has been the defense of democracy against tyranny, has turned on its ally and instead embraced a brutal autocrat, President Vladimir Putin of Russia. Gripped by a sense of abandonment, alarmed at the colossal rearmament task before it, astonished by the upending of American ideology, Europe finds itself adrift.”
Russia Pushes Back Ukraine’s Offensive
“Russian and North Korean forces have made significant battlefield advances in recent days in the Kursk region of Russia, threatening Ukraine’s supply lines and its hold on a patch of land it hopes to use as a bargaining chip in future negotiations,“ the New York Times reports.
“Working together, a new influx of North Korean soldiers and well-trained Russian drone units, advancing under the cover of ferocious artillery fire and aerial bombardment, have been able to overwhelm important Ukrainian positions, Ukrainian soldiers said.”
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Sam Bankman-Fried Ramps Up Effort for a Pardon
“Sam Bankman-Fried, the disgraced cryptocurrency mogul who was once a top Democratic donor, has embarked on a long-shot campaign to secure a pardon from the Trump administration,“ the New York Times reports.
“The effort has been driven by a small group of Mr. Bankman-Fried’s supporters, including his parents, Joe Bankman and Barbara Fried, who are trying to help their son escape the 25-year prison sentence he received after he was convicted of fraud, conspiracy and money laundering in the collapse of his crypto exchange, FTX.”
Monmouth to End Polling
Monmouth University is planning to imminently shutter its lauded polling institute, the New Jersey Globe reports.
Don Jr. Considering a Presidential Bid
Three high-level sources told Mediaite that Donald Trump Jr., the eldest son and an omnipresent MAGA evangelist across the internet, is seriously considering a run for president in 2028.
House Democrats Reject GOP Shutdown Plan
“House Minority Leader Hakeem Jeffries (D-N.Y.) and his leadership deputies said Friday they will not lend their support to the stopgap spending bill being proposed by Speaker Mike Johnson (R-LA),” Axios reports.
We discussed what Democrats should do on this week’s Trial Balloon.
Marco Rubio Melts Down at Elon Musk
“Marco Rubio blew up at Elon Musk at a closed-door Cabinet meeting after the DOGE head accused the secretary of state of failing to slash his staff,” the Daily Beast reports.
“Musk, the world’s richest man, told the secretary of state, who was seated next to Donald Trump at the meeting on Thursday, that he had fired ‘nobody.’ He sarcastically added that the one person Rubio had perhaps fired was an employee of Musk’s DOGE.”
“Rubio has been privately livid at Musk since he tore apart an agency supposedly under the secretary’s control: the U.S. Agency for International Development, which Musk has effectively eliminated in his bid to take a chainsaw to federal spending.”
New York Times: “Simmering anger at the billionaire’s unchecked power spilled out in a remarkable Cabinet Room meeting. The president quickly moved to rein in Mr. Musk.”
New York Magazine: Trump keeps everyone guessing about Elon Musk’s power.
Trump Cancels $400 Million in Grants for Columbia
The Trump administration on Friday announced that it would cancel approximately $400 million in federal grants to Columbia University “due to the school’s continued inaction in the face of persistent harassment of Jewish students,” NBC News reports.
Zelensky’s Approval Jumps After Oval Office Fight
“President Volodymyr Zelensky’s approval rating has risen by 10 percentage points since his White House spat with U.S. President Donald Trump, a poll by a leading Ukrainian pollster showed on Friday,” Reuters reports.
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