American politics, for better or worse, is built on a two-party system that is occasionally challenged by independent third parties, who never have much in the way of notable successes. How many members of Congress are there from the Green Party? How many did H. Ross Perot get elected when he launched the most successful third-party bid for the White House in a generation? The answer to both is, of course, "zero." Third parties can change the political conversation in major ways (and occasionally even move the "Overton Window" in a big way), but so far none of them has built up enough success to truly challenge the dominance of the Republican/Democratic dichotomy. Instead, what is much more common is one (or both) of the two major parties being dramatically changed from within.

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So, does everyone feel wonderfully "liberated" now?

President Donald Trump, in his second term, decided to liberate himself from having any adults in the room when he made important decisions. Instead, he surrounded himself with ass-kissers and other assorted sycophants, all of whom tell him he is great no matter what crazy notion pops into his head.

This is the result. Yesterday, the Dow Jones average lost 1,600 points. Today it lost another 2,200 points. Trump has singlehandedly crashed the economy -- and we're only two days in.

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Before the votes were counted in Wisconsin last night, Elon Musk said the race "might decide the future of America and Western civilization" and "the future of the world." Afterwards, he tried to spin the outcome: "I expected to lose, but there is value to losing a piece for positional gain." Nice try, Elon.

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In keeping with the "world turned upside-down" nature of this week, we are going to start with a few things that haven't been front-and-center, then we'll circle in to a bigger-picture take, and finally we'll fit in the big story of the week at the end.

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House Republicans seem to be getting worried. Their historically-thin majority isn't in jeopardy quite yet, but the political trends aren't exactly going in their direction. Which led to a surprise announcement from the White House that the nomination of Representative Elise Stefanik to be the ambassador to the United Nations was being pulled. Stefanik had already delayed going through the Senate confirmation process, since her vote was needed on budget bills. But now she won't be confirmed at all, as Republicans worry about holding on to their majority.

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As is now the new normal, there were so many things happening in the political world this week it is hard to keep track of them all. But what is currently in the center ring is the vote happening in the Senate on the continuing resolution to fund the government for the rest of this fiscal year.

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While the biggest political spectacle of the week was the president's big speech to Congress, the biggest political news of the week was actually the American economy reacting to Donald Trump's on-again-off-again, now-you-see-them-now-you-don't tariffs. The whiplash began at the start of the week and hasn't fully subsided yet. Taken together with all of Trump's other disruptive wrecking balls, economists are now starting to talk about the possibility of an upcoming "Trump recession."

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It is time for Democrats to step up to the plate. President Donald Trump will address Congress and the nation tonight, and will doubtlessly boast about all the wonderful things he thinks he has been doing. In doing so, he will also doubtlessly lie about many of them in shameless fashion, since that's what he always does. But Democrats need to not get distracted and remain focused on one thing above all else. Call it a return to: "It's the economy, stupid."

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Today I read the first of what will likely be a number of Democratic post-election analyses, in an effort to identify what went wrong for the party in 2024 and what should be done to fix it going forward. And I've certainly thought about the subject myself in the past few months, so I thought I'd offer up a rather different take.

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And so we come to the final Friday Talking Points of President Joe Biden's term in office.

It is perhaps appropriate that the funeral of Jimmy Carter happened in the midst of Biden winding down his final weeks. Because Joe Biden -- another one-term Democratic president like Jimmy -- will likely become more appreciated as time goes by, just as Carter was.

Joe Biden had a pretty spectacular first two years in office, in terms of getting legislation passed. Granted, he had a Democratic Congress to work with and the continuing crisis of a pandemic to spur the politicians to actually act. He used both to get a sweeping agenda passed which will have an impact for years to come. But he had to grapple with two corporate-friendly Democrats in the Senate who held him back from achieving an even-more-historic agenda. If the full "Build Back Better" plan had made it past Joe Manchin and Kyrsten Sinema, then Americans would doubtlessly feel a lot differently (and better) about government's role in their economic lives.

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