Since it is a holiday (Happy Juneteenth!), I considered taking the day off. But rather than totally punt today, I thought I'd just run large excerpts from the official CBS transcript of this week's Face The Nation, since it was a rather extraordinary show.

I'm not usually a big fan of Face The Nation, in terms of the Sunday morning political chatfest lineup, but occasionally they manage to do a good job. This week we had Robert Costa guest-hosting, but it wasn't his presence so much as the guest list itself that made the program notable. The first two segments might have been subtitled: "Republicans Explaining Why Trump Is So Screwed" (if you'll forgive the language).

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President Joe Biden got some good economic news this week, as the official inflation rate fell to only 4.0 percent. This is down from last year's high of 9.1 percent, and is a significant achievement. Most economists will tell you that's still a bit too high and that 2.0 percent is the goal they're shooting for, but 4.0 percent is getting pretty close to that goal, you have to admit.

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Scene Two of the "Donald Trump Indictment Circus" happened today, and things just keep getting more and more surreal. For instance, on the way from the courthouse to the airport, Trump made a quick campaign stop. You just can't make this stuff up, folks.

I must confess that I'm somewhat at a loss for words today, as I sit waiting to see whether the networks will cover Trump's "indictment party" speech live, when he gets back to his New Jersey golf club. He's not just going to give what he will see as a triumphant speech, he's also holding a fundraiser. Because Trump never misses a chance at grifting his rubes one more time.

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Donald Trump will be tried in two places. I am not speaking of the fact that he's now been indicted on two sets of felony criminal charges, one in New York and one in a federal court down in Florida, but rather of the two arenas where he will be making his own case: in a court of law and in the court of public opinion.

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For the first time in American history, a former president of the United States has been indicted on federal charges -- 37 individual felonies. That is an extraordinary statement to make, but that's not surprising, since nothing about Donald Trump can ever be called "ordinary."

At first glance, it sounds like a James Bond story: classified top-secret documents, information on nuclear secrets, a Pentagon attack plan against a foreign country. But when you dig a little deeper, it sounds not like Bond but rather Mr. Bean... or perhaps even the Three Stooges.

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Seventy-nine years ago today, the forces of the free world attacked the fascist Nazi regime in northern France. This year, the Ukrainian military is marking the anniversary of D-Day by starting their own counteroffensive against occupying Russian forces. Back here at home, Chris Christie will be announcing his bid to take on Donald Trump for the Republican presidential nomination. There are obvious moral parallels that can be drawn between these events, but today we're going to leave that to others (for the most part).

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And so it all ended with a whimper and not a bang. President Joe Biden will sign the bill passed by both houses of Congress to increase the debt ceiling until after the 2024 elections. The bill is a clear victory for Biden, since it contains very little (virtually any) of the initial Republican budget-slashing demands. But Biden couldn't come out and say how good a deal he got from House Speaker Kevin McCarthy until now, because if he had done so it would have fed into the resistance by the farthest-right members of Congress, but now that the bill has safely been passed Biden has scheduled an Oval Office address for later today (7:00 PM, Eastern Time). We should note this is too late for anything he says to be addressed or included here in this column, but we will definitely be watching Biden speak later on today. [Editorial Note: we did listen to Biden's address, and we know it may be hard to believe, but we had picked out our "Crisis Averted" headline before Biden used the phrase tonight.]

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I realize that this is Memorial Day and I should really be writing a column honoring America's soldiers, but instead I thought I'd take a look at what the most impressive soldiers in today's world are gearing up to do. I speak, of course, of the Ukrainian army in their fight against the Russian [...]

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We began the week waiting, and we are ending the week waiting. All week long, rumors have leaked out about the status of the budget negotiations between House Speaker Kevin McCarthy and President Joe Biden, with both sides spinning madly to impress their bases, but we end the week with no deal actually inked.

However, we may be close. At least, that's today's big leak. It seems like both sides have agreed to some topline numbers with various face-saving things thrown in so they can both claim at least a certain degree of victory. Whether this actually works or not is still an open question.

Members of both parties are doubtlessly going to howl when the details are publicly released, and then they'll accuse their own negotiators of "giving away the store." But others will accept the face-saving spin and push forward, most likely. That's usually the endgame for such sticky negotiations, at any rate.

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President Joe Biden could have avoided the political nightmare he is now caught in the middle of, if he had earlier worked with those in Congress who attempted to deal with the situation before it ever got to this point. But Biden, for some inexplicable reason, decided not to defuse the ticking time bomb and instead he counted on it not blowing up in his face. Assuming for the moment that somehow we'll all manage to safely get out of this situation in the next few weeks (which is still a rather large assumption, at this point), Biden should at least learn the lesson of his own inaction. When the dust settles on the current debt ceiling crisis (no matter how it works out), Biden should immediately move to avoid it ever happening again. Right after whatever deal is struck and passed through Congress, Biden should announce to the country that he has now determined that the debt ceiling itself is incompatible with the 14th Amendment and therefore unconstitutional and null and void. Doing so after the current crisis has been resolved would allow the issue to be litigated while there is no looming threat of default. The case could work its way through the courts all the way up to the Supreme Court with plenty of time to spare, and whichever way the courts ultimately ruled, it wouldn't cause a worldwide economic panic.

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