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US Politics
Jon Lieber, head of Eurasia Group's coverage of political and policy developments in Washington, DC, shares his perspective on US politics.
This is what we are watching in US Politics this week: Campus protests.
They're happening everywhere. Elite schools, state schools, the Northeast, the Midwest, Southern California, campus protests are a major story this week over the Israeli operation in Gaza and the Biden administration's support for it. These are leading to accusations of anti-Semitism on college campuses, and things like canceling college graduation ceremonies at several schools.
Will this be an issue of the November elections?
Really difficult to say. Everyone remembers in 1968, massive protest at the Democratic National Convention, contributing to President Nixon's message that he was the “law and order” candidate, and the Democrats didn't have control. That could easily be repeated this year if the protests continue and are sustained into August at the Democratic Convention in Chicago, where it also was in 1968. And then, if the protests continue on campus once again, when schools come back in in the fall, right before the November elections.
One thing we're watching is how Donald Trump tries to spin these things. A key campaign message that he's been pushing so far, this cycle, is that everything they're saying about him are the things they're actually doing. They thought he would get the US into a war with Iran, and now President Biden came right up to the verge of that last week. They say, “He's the chaos candidate,” and now you've got wars all over the globe, you've got campus protests, you've got a spike in crime, and you've got a massive immigration problem under President Biden.
So, that message is going to be one that Donald Trump continues to push and will definitely resonate with Republican voters and could potentially resonate with independent voters if the large-scale protests and clashes with police continue into the fall.
Jon Lieber, head of Eurasia Group's coverage of political and policy developments in Washington, DC, shares his perspective on US politics.
This is what we are watching in US Politics this week: Trump's trials.
Former President Trump faces or faced six civil or criminal actions against him in 2024, an election year. Two of which, civil finds that he was already found liable for. He's had to pay significant sums of money. Two of which, a case in Georgia and one in Florida, are very unlikely to start in this year, and one of which could start later this summer, this federal trial against Trump for election interference in Washington, DC. The final trial is set to begin next week. A trial in Manhattan for business records frauds related to hush money payments he made to a woman he was having an affair with before the 2016 election.
The key witness in this trial is Michael Cohen, Trump's former attorney, who Trump's going to try to discredit the testimony of by saying, “He's a liar, he's out for publicity. But the evidence against Trump is pretty damning here. There's almost no, it sure looks like he committed this crime. However, the allegations will have to be proven in court. Trump could win this case and the jury could decide to throw out the corroborating evidence. There's a lot of ways this could still go in Trump's favor. And if it does, that will be a significant win for Trump, because a significant portion of the electorate is telling pollsters today that if Trump is found guilty of a crime before the election, they would be less likely to vote for him.
Trump support drops by about ten percentage points in a New York Times poll from earlier in the year, based on whether or not he's found guilty. And these are really high stakes, drama for Trump. One of the key political inoculates Trump has is that the trial could be over quickly. He also is going to make the case that this is a politically motivated witch hunt and that Alvin Bragg, the Manhattan DA, is out to get him and stop him and undermine him because he's a Democrat. That message is certainly resonating with Republicans. The key question for Trump's election campaign is, “Does that message resonate with independents, or do they continue to see the criminal charges against Trump as being disqualifying?”
The trial starts next week. We'll find out what happens.
Jon Lieber, head of Eurasia Group's coverage of political and policy developments in Washington, DC, shares his perspective on US politics.
This is what we are watching in US Politics this week: Abortion.
Abortion is the big story in US politics this week with the Florida state Supreme Court ruling that a ballot initiative that would protect access to abortion up until fetal viability will be on the ballot in abortion in Florida this year. Democrats are excited about this ruling because it was starting to look like Florida was increasingly out of reach for them.
Republicans now out register Democratic voters in the state by over 800,000 registered voters, which is a flip from a decade ago when Democrats outnumbered Republicans by about 500,000 registered voters. Florida is looking like more and more of a red state with a massive 20 point victory for Republican Governor Ron DeSantis in the 2022 midterm elections. That's what was making Democrats feel like it wouldn't be a very competitive state in this presidential cycle.
However, with abortion on the ballot, they now see an opportunity for outside groups to come in and spend a bunch of money who otherwise wouldn't have sent money there, forcing Republicans to respond by potentially wasting money there. The state is probably a little bit too red for it to truly be competitive for President Biden in this election cycle.
But this abortion referendum story is going to play out across the country. Democratic activists have the opportunity to get abortion on the ballot in two critical swing states of Nevada and Arizona. But it's unlikely they would show up in the other swing states of Wisconsin or Michigan, because Wisconsin had a recent state Supreme Court decision about it. And Michigan had an abortion referendum in 2022. That doesn't mean they can't find other ways to make this election about access to abortion, which has been a very positive issue for Democrats.
There have been seven state referendums since the Supreme Court overturned Roe v. Wade. And in each of those, the electorate shifted significantly to the left from what they did in the 2020 results, even in deep red states like Kansas and Kentucky. So this is going to be an important issue to keep watching throughout the election. And could be one of the wild cards that helps Joe Biden overcome the bad polls that he's been experiencing in recent weeks.
Jon Lieber, head of Eurasia Group's coverage of political and policy developments in Washington, DC, shares his perspective on US politics.
This is what we are watching in US Politics this week: It is Trump's money.
At the same time this week, his meme stock is going bananas with an IPO of Truth Social. The markets don't know what to do it. With valuation fluctuating wildly throughout its first two trading days. But no matter what, it seems likely to increase Trump's net worth by several billion dollars. Unfortunately, a lot of that money will be locked up in equities in uncertain valuation for some time, which will make it hard for Trump to use the money to shore up his struggling campaign funds.Trump has roughly a third of the cash on hand as President Biden, who's going to pad that total with a cool $25 million from a fundraiser in New York this week. Trump is, of course, the king of earned media and may not need a huge war chest to run his campaign. But if there's one thing we know about American politics is that money does not hurt.
One of the reasons Trump may be struggling to raise funds is because of the massive legal bills that he has to cover, which, according to The New York Times, have amounted to over $100 million since he left office. Some of that has been covered with campaign cash. Some of it has been covered with money from his businesses, which is going to get a lot harder for him going forward based on this decision in New York.
So money could end up being a huge story of the 2024 election. And if it is, it's because Biden has it and Trump doesn’t.
Jon Lieber, head of Eurasia Group's coverage of political and policy developments in Washington, DC, shares his perspective on US politics.
What's going on with the Biden State of the Union?
So big week in US presidential politics. Super Tuesday basically effectively ended both primaries for the Republicans and the Democrats. We now have two all but official candidates. Joe Biden gave his fourth State of the Union address this week. Big question around Joe Biden, is he up to the task? 75% of Americans say that he is too old to run for a second term, but he is a attempting to prove them wrong like he did last night in Washington with a vigorous speech where he spoke for an hour, which officially kicked off his campaign.
Biden spoke about themes of income inequality, he spoke in favor of aid to Ukraine, and he rolled out a couple of tax increases that Republicans don't like. There's a lot of risk in every public appearance that Biden gives these days because of the fact that Democrats are very concerned that he's going to make a verbal flub or that he's going to look physically frail. That did not happen last night, and I think that's a good sign for Biden for now.
But every time he goes on stage for the rest of the year, there's going to be concern about how old he looks. So the campaign can now begin in earnest. Biden didn't mention Donald Trump by name in the speech, but he did indirectly attack him, talking about how Republicans are the party of the rich and how the threats to democracy represented by this election. At least that's how Joe Biden wants to frame it.
Jon Lieber, head of Eurasia Group's coverage of political and policy developments in Washington, DC, shares his perspective on US politics.
What are the implications of the retirement of Senate Republican leader Mitch McConnell from his leadership post?
This week Senate Minority leader Mitch McConnell announced his intention to step down as leader of the Republicans after serving longer in that post than anybody else in American history. There are really two implications that I can see.
The first is that McConnell was basically acknowledging the inevitable. It was very unlikely that he would be able to stay on as leader after this Congress anyway. If Donald Trump wins the presidential election, then he almost certainly is going to push McConnell out of the job. And if he didn't win the election, there's a whole generation of Republicans in the Senate who are looking for an opportunity to step up. McConnell, at 82 years old, did not represent that new generation. So the time had come to pass on the torch, and McConnell chose this February to announce it.
The second takeaway is that McConnell is really giving the speech the Democrats are hoping Joe Biden would give. McConnell's only eight months older than President Joe Biden, who's running for a second term right now. And lots of questions have come up recently about Biden's fitness for office because of his advanced age. This is going to be an increasing problem for Biden as more and more Democrats start talking about it. But in the absence of any challenger, it looks like Biden's going to be the nominee and his age will just be a liability they all have to learn to live with.
Jon Lieber, head of Eurasia Group's coverage of political and policy developments in Washington, DC, shares his perspective on US politics.
With the Iowa caucuses coming up, what are the big themes to watch in American politics this year?
Monday of next week is the first day the official kickoff of the US presidential campaign season, even though it feels like it's already been going on for six years. It really only starts on next Monday with the Iowa caucuses begin. Donald Trump has a big lead in the Republican primary. Nobody's challenging President Biden on the Democratic side. And so here are three themes to watch throughout this election year.
The first is, can anyone beat Trump in the Republican primary? Right now, it's down to basically Trump, the top of a field of contenders. And then you have a distant second, former South Carolina governor and UN Ambassador Nikki Haley. And in third place, Florida governor Ron DeSantis, with some also rans like Chris Christie and Vivek Ramaswamy, who don't really have a chance. Of that bunch, Haley is probably best positioned to make a deep run into the primaries because of her ability to consolidate the fundraising apparatus behind her in the last several months. DeSantis could still come on strong with a strong showing in Iowa, but it's really going to take a lot of money to last through the March Super Tuesday caucuses. And right now, Haley looks like the best bet. But to get there, she's going to need to win a state. Right now, she's behind in Iowa. She's close, but still behind in New Hampshire. And she’s still behind in her home state of South Carolina. So the thing to watch for is field consolidation in late January, maybe early February, And if Haley can actually get some momentum to beat Trump.
The second thing to pay attention to are Trump's criminal trials. And a major question for 2024 is how much do these things hurt him on the campaign trail? Certainly being prosecuted by the Democratic prosecutor in Manhattan and Biden's DOJ has helped Trump consolidate his position on top of the Republican field. But it seems like the conventional wisdom is that it probably hurts Trump in the general election. Now, this may or may not be true. Voters already have been accustomed to the fact that Trump's been accused of various crimes. Trump himself is running on delegitimizing the system that's put him on trial, and that's going to be a continued theme throughout 2024. And the question for the general election is right now, Trump is beating Biden in head to head polling matchups, which are not very reliable this far out. Does that advantage start to erode as Trump's criminal trial stay in the news throughout the summer? And what happens if he's eventually convicted of a crime? And the one to watch is probably the DC election interference case that the federal government has brought in the District of Columbia.
Final thing to watch for in 2024, what happens to the state of the economy? Biden's approval ratings are relatively low for an incumbent seeking reelection in the high thirties. That's a pretty bad sign. The economy's been fairly resilient so far with low unemployment and decent wage growth. But Americans are still saying they're very unhappy about the state of things. Inflation has been a huge part of that. High grocery prices, expensive services are all things that Americans are dealing with on a day to day basis. Does the economy flatline or tank in the first half of 2024, which would be a real disaster for the incumbent President Biden? Or does it continue to muddle along and potentially improve as inflation fades in the rearview mirror, which would be a tailwind for the incumbent? And you'd expect to see that in rising approval ratings throughout the spring and summer.
Thanks for watching. This has been US Politics in (a little over) 60 Seconds.
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