Bulwark Takes

Catherine Rampell and JVL break down Donald Trump’s latest economic claims—and explain why his understanding of interest rates, inflation, and economic growth is so badly detached from reality.
They also dig into a disturbing new trend: European countries are moving gold and other assets out of the United States as allies increasingly worry that Trump could weaponize America’s financial power against them. From Greenland and tariffs to threats of sanctions and asset seizures, the trust that once made the U.S. dollar the world’s safe haven is starting to erode.
Plus: The Federal Reserve’s looming clash with the White House, the reliability of U.S. economic data, and why boring, predictable leadership might actually be good for the economy.
And there’s big news for Receipts: Catherine is expanding the show with a second weekly episode featuring economists, experts, politicians, and other guests to explain how Trump’s economic agenda affects your everyday life.
Read more from Catherine's newsletter: https://www.thebulwark.com/p/europe-gold-fled-the-nazis-now-its-fleeing-trump

Donald Trump wants Ken Paxton in the Senate, but he really wishes Paxton would do something about those ugly outfits. Trump has repeatedly praised Paxton as a loyal ally while taking bizarrely personal shots at his clothes, his appearance, and his interviews.
Joe Perticone and Sonny Bunch give their takes on Trump’s obsession with how people look, the president’s apparent role as America’s new fashion police, and the truly questionable Ken Paxton fit that started it all. We examine the oversized shoes, the golf polo, the $40,000 watch, and why Joe thinks Paxton may have gone straight from the golf course to the campaign trail.

Will Saletan takes on Trump’s Venezuela oil deal, as the president openly brags that Venezuelan oil has already paid for the war “many times over” and Republicans argue that U.S. oil companies deserve benefits for the next 100 years. Saletan follows the money—and shows how the administration is putting oil profits ahead of the free elections it once promised.
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Read Will's article: https://www.thebulwark.com/p/trump-is-keeping-venezuela-dictatorship-in-business-oil-deal-delcy-rodriguez
A quick note: This is the kind of work Bulwark membership makes possible: not chasing the daily outrage, but giving Will Saletan the space to build a comprehensive case from beginning to end, show you the evidence, and explain exactly how all the pieces fit together. If you appreciate this, please consider paid membership.

Tim Miller joins Nicolle Wallace to discuss why the Republican Party can see Trump dragging it toward a midterm disaster but still can’t bring itself to break away. They also discuss the horrifying death of a young Haitian immigrant targeted by Trump’s deportation crackdown and the administration’s escalating efforts to interfere with voting—moves Tim argues could spark a backlash of their own.
Ready to reach your goals? Visit https://hims.com/bulwarktakes to get a personalized, affordable plan that gets you.
Watch Deadline: White House on MS NOW: https://www.ms.now/deadline-white-house
Read more about Protect Democracy: https://protectdemocracy.org/how-you-can-protect-democracy/

MAGA pollster Rich Baris joins Tim Miller to explain why Republicans may be underestimating just how competitive the 2026 Senate map could become. Baris says that Michigan and Georgia are effectively locks for Democrats Abdul El-Sayed and Jon Ossoff. He also sees Democratic opportunities in states Republicans have long considered safe—including Kansas, Nebraska, Montana, Texas, and Ohio.
Tim and Rich also talk about why Republican messaging about “socialism” is missing the point. Voters are far more worried about the cost of living, paying their bills, and affording everyday life than they are about scary ideological labels. Rich says it's clear that Trump is betraying the coalition that put him back in the White House. The war, affordability, immigration, and social-media trolling are all alienating voters who once found his approach entertaining and effective.
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