Driven largely by increased gasoline and electricity prices, the Consumer Price Index rose to 3.4% in December, up from a 3.1% annual rate in November, the Labor Department reported Thursday. December’s monthly increase was 0.3% compared with +0.1% in November.
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...meanwhile...
WEDNESDAY 1/10/24
Trump’s Powers – If we gain nothing else from Donald J. Trump’s “Big Lie” and the January 6th attack on the U.S. Capitol, we will get a ruling on the limits of presidential power, heretofore largely untested for more than two centuries. On Tuesday a panel of three federal appellate judges signaled skepticism that Trump – who attended the hearing though not required to do so -- could claim immunity from prosecution for the insurrection.
“A president could sell pardons, could sell military secrets, could order SEAL Team 6 to assassinate a political rival? Would such a president be subject to criminal prosecution if he’s not impeached?” said Judge Florence V. Pan, one of the two appointed by Democrats.
The third, Republican appointee Judge Karen L. Henderson, said “it was paradoxical to say that [the ex-president’s] constitutional duty to take care that the laws be faithfully executed allows him to violate criminal laws.” (This report via The Washington Post.)
Shooting someone in the middle of Fifth Avenue in broad daylight, indeed.
Trump attorney D. John Sauer said that any crime connected to a president’s “official duties” requires the “political process” of impeachment and a conviction by the Senate would have to come before any prosecution. He predicted speedy impeachment for a president involved in a murder. Trump and his attorneys argue this case – the one for his alleged involvement in the January 6thinsurrection among four against him – would open a “Pandora’s box” for future presidents to be charged with all sorts of crimes and fear of charges after leaving office.
“It’ll be bedlam in the country,” Trump said in an appearance at the Waldorf Astoria hotel near the federal courthouse – the old federal post office building that was owned by Trump’s company while he was president. Trump took no questions from reporters.
If the three-judge panel does indeed rule against Trump’s claim of immunity in the case, the former president’s legal team will certainly appeal to the full federal appellate court in Washington and then to the U.S. Supreme Court, thus very likely delaying the trial’s March starting date.
--TL
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TUESDAY 1/9/24
Washington is Not Iowa – Former President Trump was expected to step aside from Iowa rallies where he is campaigning to keep his lead in next week’s Iowa caucuses, to return to the federal courthouse in Washington, D.C. in a voluntary appearance to argue he is immune from prosecution (The Washington Post). Trump was arraigned in federal court last August on charges of interfering with the 2020 election results.
Crashing the soft landing: Donald J. Trump said this in an interview with former Fox Business host Lou Dobbs, according to The Hill: “And when there’s a crash – I hope it’s going to be during the next 12 months because I don’t want to be Herbert Hoover. The one president I just don’t want to be, Herbert Hoover.”
The Biden administration is enjoying a “soft landing” (though not in the polls) from the Federal Reserve’s steep interest rate hikes to bring down pandemic-era inflation, which was caused largely by economic forces outside either Biden’s or Trump’s control. Biden, whose Bidenomics is a sort of revival of FDR’s economic policy has previously compared Trump with Hoover.
Meanwhile, the Biden campaign posted this on X: “Donald Trump’s campaign is about him. Not America. Not you.”
--TL
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MONDAY 1/8/24
Another Budget Deal – House Speaker Mike Johnson (R-LA) and Senate Majority Leader Chuck Schumer (D-NY) have reached an agreement on Fiscal Year 2024 spending to keep the government open. The deal makes minor changes to the Fiscal Responsibility Act and last spring’s debt-limit agreement between (then-) Speaker Kevin McCarthy (R-CA) and President Biden, “the beginning of the end” for McCarthy, Punchbowl News reports. After being ousted as speaker, McCarthy left the House at the end of 2023.
The deal keeps Biden’s Inflation Reduction Act and a $696-billion Biden-McCarthy “side-deal” in place and accelerates a $10-billion IRS cut to FY24 from FY25, and cuts $6.1-billion in COVID relief funds. The $1.6-trillion budget allocates $886 billion for defense and $773 for non-defense spending, according to PN. Four spending bills, for Veterans Affairs, Transportation and Housing and Urban Development, and Energy and Water expire Friday, January 19 and the rest expire February 2.
Note: Conventional Pundit Wisdom warns that signing on to pretty much the same deal that McCarthy struck last year puts Johnson on the hot seat. The difference, however, is that Johnson is a House Freedom Caucus member who can take a harder line in 2025 if Trump and the House GOP win this November.
•••
Another Warning – Ex-President Trump has refused to sign an optional oath by the Illinois State Board of Elections that he will not “advocate for the overthrow of the government,” ahead of the state’s March 19 primary and November general election, WBEZ and the Chicago Sun-Times reported Saturday. Trump did sign the pledge in 2016 and 2020. Illinois imposed the oath as an anti-communist measure in the 1950s and made it optional in the 1970s.
Meanwhile… Former Republican representative from Illinois and member of the House Select Committee to Investigate the January 6th Attack on the United States Capitol, Adam Kinzinger, says that Trump is in trouble with the revelation that Trump’s former chief of staff, Dan Scavino, appears to have spoken with special counsel Jack Smith. According to a report by ABC News, Scavino told Smith’s team that Trump “was just not interested” in trying to stop the January 6, 2021 insurrection and did not write the tweet that went out from his Twitter account posted about 2:38 p.m. that day calling on the mob to “stay peaceful.”
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Austin Out? – There is growing pressure for heads – or at least, a head – to roll over Defense Secretary Lloyd Austin’s failure to report he was at the Walter Reed National Military Medical Center with complications from an undisclosed surgical procedure, Politico reports. For days, the Pentagon failed to inform the White House and the National Security Council that Austin was indisposed. Could the defense secretary’s head be among the first to roll?
--Compiled and edited by Todd Lassa
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