The Latest
Interpreting What Yellen Said
05.09.23 | 12:18 pm

Let me follow up a bit on this post from last night about Janet Yellen’s CNBC interview. I don’t read her as ruling out “consol bonds” or the 14th amendment or various other approaches. I see her communicating two things: one overarching and one immediate and specific.

Let’s deal with the first of those first.

As we’ve hurtled closer to the cliff, there’s been a rising chorus among those who are fiercely opposed to any negotiation with parliamentary terrorists. That chorus is anxiously asking this question: what is your plan when they call your bluff? What steps are you planning once they start shooting the hostages?

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There’s Plenty Of Debt Ceiling Drama. Don’t Fall For The Fake Kind.
INSIDE: E. Jean Carroll ... Sidney Powell ... Dick Durbin
05.09.23 | 8:52 am
Yellen Shows Her Hand
05.08.23 | 6:49 pm

We’ve had this running question for months about just what happens if the U.S. Treasury runs out of funds to meet all the government’s spending obligations. To be clear, those include ordinary spending as well as servicing of the principal of and interest on the U.S. debt. Secretary Yellen went on CNBC this afternoon and I think we got the first piece of an answer. It was a long interview, mostly about other aspects of the economy. But she discussed the debt ceiling standoff at the beginning. Here’s the key passage.

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Where Things Stand: GOP Resurrects Decades-Long War On PBS Because Of An LGBT Cartoon Character In ‘Clifford’
This is your TPM evening briefing.
05.08.23 | 6:40 pm

Take the fact that the Republican Party doesn’t have a policy platform beyond red-meat one-sided culture wars and pair it with the fact that Republicans have raised defunding PBS every few years for the last three decades or so and it becomes perhaps inevitable that conservative politicians would try to get “Clifford The Big Red Dog” canceled.

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Douthat’s Elegy for Meatball Ron
05.08.23 | 2:48 pm

Ross Douthat makes several decent points in this column on 2016 déjà vu before coming around to what seems to be his real point: Trump’s getting a leg up because “the press” actually wants him back. “[A]t some half-conscious level the mainstream press really wants the Trump return. It wants to enjoy the Trump Show’s ratings; it wants the G.O.P. defined by Trumpism while it defines itself as democracy’s defender.”

To be fair to Douthat, he does say leading up to those lines that if Trump is renominated it’s ultimately on GOP primary voters. Fair enough. But I really don’t buy this. Yesterday, HuffPost’s S.V. Date wrote that the U.S. press has failed its responsibilities by not putting front and center in all coverage of the man the reality of Jan. 6. This is true. Every general press account of Trump should begin with a descriptor something like “Donald Trump, the former president who staged an unsuccessful coup after being defeated in the 2020 election …”

But even this failure isn’t the same as wanting him back. I simply don’t think this is true even for the silliest and most conventional of national political reporters.

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Federal Reserve Chair Janet Yellin testifies on U.S. monetary policy before the House Financial Services Committee on Capitol Hill in Washington, Wednesday, June 22, 2016. (AP Photo/Manuel Balce Ceneta) Federal Reserve Chair Janet Yellin testifies on U.S. monetary policy before the House Financial Services Committee on Capitol Hill in Washington, Wednesday, June 22, 2016. (AP Photo/Manuel Balce Ceneta)
Trump Chickens Out Of Testifying In Carroll Trial
INSIDE: Stewart Rhodes ... Fani Willis ... Bryan Slaton
05.08.23 | 9:01 am
Marge Greene, Worst of the Worst, Mass Shooting Edition
05.07.23 | 5:02 pm

A small detail in the context of the latest mass shooting, this time in Allen, Texas. Eight people dead, including children. (The gunman was also shot to death by a police officer who happened to be at the mall for reasons unrelated to the shooting.) That detail is Rep. Marjorie Taylor Greene, just the worst kind of racist degenerate who somehow has managed to become the de facto leader of House Republicans in the new Congress.

This morning Greene went on Twitter to note that the shooter “appears Hispanic” and had what she decided “looks like a gang tattoo on his hand.” And then added “Title 42 ends on Thursday and CBP says 700,000+ migrants are going to rush the border.”

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