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    What the Dow Jones Hitting 40,000 Points Tells Us

    Last week, for the first time in history, the Dow Jones industrial average closed above 40,000.Unlike many right-wing commentators, I don’t consider the stock market the best indicator of the economy’s health, or even a good indicator. But it is an indicator. And given the state of American politics, with hyperpartisanship and conspiracy theorizing running rampant, I’d argue that this market milestone deserves more attention than it has been getting.Not to put too fine a point on it, but do you have any doubt that Republicans, across the board, would be trumpeting the Dow’s record high from every rooftop if Donald Trump were still in the White House?The background here is the gap between what we know about the actual state of our economy and the way Trump and his allies describe it.By the numbers, the economy looks very good. Unemployment has now been below 4 percent for 27 months, a record last achieved in the late 1960s, ending in February 1970. Inflation is way down from its peak in 2022, although by most measures it’s still somewhat above the Federal Reserve’s target of 2 percent. U.S. economic growth over the past four years has been much faster than in comparable major wealthy nations.Yet Trump says that the economy is “collapsing into a cesspool of ruin.” How can such claims be reconciled with the good economic data?Well, the numbers I just cited come from official agencies — the Bureau of Labor Statistics (which produces labor market data) and the Bureau of Economic Analysis (which estimates gross domestic product). And if you were a hard-core MAGA partisan inclined to conspiracy theories — but I repeat myself — you might tell yourself that the good economic numbers are fake, concocted by a corrupt deep state to help President Biden win the election.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    Giuliani Is Served Arizona Indictment Notice After His 80th Birthday Party

    After trying to reach him for weeks, officials served him the notice as he left his 80th birthday party. He is expected to appear in court on Tuesday.Rudolph W. Giuliani was served with a notice of his indictment in the Arizona election interference case on Friday night, becoming the last of the 18 defendants to receive the notice after nearly a month of unsuccessful attempts by the authorities.The indictment against Mr. Giuliani, Donald J. Trump’s former personal lawyer, and others includes conspiracy, fraud and forgery charges related to their attempts to change the results of the 2020 election in the state in favor of Mr. Trump, according to prosecutors. Among the other defendants are Mark Meadows, the former White House chief of staff, along with all of the fake electors who acted on Mr. Trump’s behalf to keep him in power despite his defeat there.Richie Taylor, a spokesman for Kris Mayes, Arizona’s attorney general who brought the indictment, said that Mr. Giuliani was served on Friday night at around 11 p.m. in Palm Beach County, Fla., as he left his 80th birthday party. “The agents by no means disrupted his event. They waited to serve him outside as he left,” Mr. Taylor said.Mr. Giuliani’s spokesman, Ted Goodman, confirmed in a statement on Saturday that Mr. Giuliani was served “after the party, after guests had left and as he was walking to the car.”“He was unfazed and enjoyed an incredible evening with hundreds of people, from all walks of life, who love and respect him for his contributions to society,” Mr. Goodman said. “We look forward to full vindication soon.”Mr. Giuliani is expected to appear in court on Tuesday unless the court grants a delay, Mr. Taylor said. A trial in the Arizona election interference case has been tentatively set to start in mid-October.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    Ethics Panel Cautions Juan Merchan, Judge in Trump Trial, Over Political Donations

    Justice Juan M. Merchan, the judge overseeing Donald J. Trump’s criminal trial in Manhattan, donated modest amounts to Democratic groups in 2020.A state ethics panel quietly dismissed a complaint last summer against the New York judge presiding over the criminal trial of Donald J. Trump, issuing a warning over small donations the judge had made to groups supporting Democrats, including the campaign of Joseph R. Biden Jr.The judge, Juan M. Merchan, donated a total of $35 to the groups in 2020, including a $15 donation earmarked for the Biden campaign, and $10 to a group called “Stop Republicans.”Political contributions of any kind are prohibited under state judicial ethics rules.“Justice Merchan said the complaint, from more than a year ago, was dismissed in July with a caution,” the spokesman for the court system, Al Baker, said in a statement.A caution does not include any penalty, but it can be considered in any future cases reviewed by the state’s Commission on Judicial Conduct. A letter outlining the caution was not released because of the commission’s rules, and Justice Merchan did not make the letter available.“The Commission on Judicial Conduct is governed by a confidentiality statute and cannot comment on nonpublic dispositions,” said Robert Tembeckjian, the commission’s administrator.The commission’s decision was first reported by Reuters.In its 2024 annual report, the commission said it was made aware of dozens of New York judges who had violated the rules against political contributions in recent years. Most were modest amounts, the report said, and many appeared to stem from the misperception that the rules only apply to state campaigns. In fact, judges are prohibited from contributing to any campaigns, including for federal office.“Like so much of the misconduct the Commission encounters, making a prohibited political contribution is a self-inflicted mistake,” the commission wrote in the report.For Justice Merchan, the stakes of such a mistake are considerably higher than most: He is the first judge in American history to preside over the criminal trial of a former president.The donations in part fueled Mr. Trump’s efforts to have Justice Merchan removed from the case before the trial began. Mr. Trump’s lawyers also focused on Justice Merchan’s adult daughter and her work at a Democratic consulting firm.But Justice Merchan declined to recuse himself, appeals court judges declined to step in, and the trial is now nearing its conclusion.The case centers on a hush-money payment to a porn star, Stormy Daniels, in the last days of the 2016 presidential campaign. Ms. Daniels says she had a sexual encounter with Mr. Trump, but a $130,000 payment from Mr. Trump’s fixer bought her silence. Mr. Trump is accused of falsifying business records to cover up his reimbursement of the fixer, Michael D. Cohen, casting them as routine legal expenses.Mr. Trump has denied the accusations against him — and has lashed out at Justice Merchan and the Manhattan district attorney, Alvin L. Bragg, who brought the case, noting that both are Democrats. More

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    The One Thing Voters Remember About Trump

    What one thing do you remember most about Donald Trump’s presidency? In April as part of the New York Times/Siena College survey, we called about 1,000 voters across the country and asked for their most prominent memory of the Trump years. Here’s what they said, in their own words. “His honesty” Trump supporter in 2024 […] More

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    Trump Refuses to Commit to Accepting Election Outcome in Milwaukee Interview

    Former President Donald J. Trump told The Milwaukee Journal Sentinel on Wednesday that he would not commit to accepting the results of the 2024 election, as he again repeated his lies that the 2020 election was stolen from him.“If everything’s honest, I’ll gladly accept the results. I don’t change on that,” Mr. Trump said, according to The Journal Sentinel. “If it’s not, you have to fight for the right of the country.”In an interview with Time magazine published on Tuesday, he also dismissed questions about political violence in November by suggesting that his victory was inevitable.When pressed about what might happen should he lose, he said, “if we don’t win, you know, it depends. It always depends on the fairness of an election.”Mr. Trump’s insistent and fraudulent claims that the 2020 election was unfair were at the heart of his efforts to overturn his loss to President Biden, and to the violent storming of the Capitol on Jan. 6, 2021, by a mob of supporters who believed his claims. Mr. Trump now faces dozens of felony charges in connection with those events.Mr. Trump’s vow to “fight for the right of the country” also echoes his speech on the Ellipse on Jan. 6, where he told his supporters that “if you don’t fight like hell, you’re not going to have a country anymore,” before urging his supporters to march to the Capitol.As he campaigns in battleground states this year, Mr. Trump has repeatedly tried to sow doubt about the integrity of the fall election, while repeating many of the same lies that he used to assail the integrity of the 2020 election. Months before any voting has taken place, Mr. Trump has regularly made the baseless claim that Democrats are likely to cheat to win.“Democrats rigged the presidential election in 2020, but we’re not going to allow them to rig the presidential election — the most important day of our lives — in 2024,” Mr. Trump said at a rally in Freeland, Mich.The Trump campaign did not immediately respond to requests for comment.Mr. Trump has for years promoted the lie that he won Wisconsin in 2020, and he did so again in the Journal Sentinel interview. Even after Jan. 6, 2021, and years after his exit from office, he has repeatedly pressured Assembly Speaker Robin Vos, the top Republican in the State Legislature, to help overturn Mr. Trump’s loss in the state and to impeach the state’s nonpartisan chief of elections.More than 1,250 people have been charged with crimes in connection to the Jan. 6 attack — and hundreds of people have been convicted. Mr. Trump said in a recent interview that he would “absolutely” consider pardoning every person convicted on charges related to the storming of the Capitol. A bipartisan Senate report found that at least seven people died in connection with that attack.The former president and his allies have also installed election deniers in influential positions in his campaign and in Republican Party institutions. In March, Trump allies newly installed to the leadership of the Republican National Committee appointed Christina Bobb, a former host at the far-right One America News Network, as senior counsel for election integrity. A self-described conspiracy theorist, she has relentlessly promoted false claims that the 2020 election was stolen.Ms. Bobb was indicted in Arizona last week, along with all of the fake electors who acted on Mr. Trump’s behalf in that state and others, on charges related to what the authorities say were attempts by the defendants to overturn the 2020 election results in Arizona.The Trump campaign and the Republican National Committee have made an aggressive approach to “election integrity” — a broad term often used by Republicans to cast doubt on elections that the party lost — central to their efforts heading toward November.Last month, the committee announced a plan to train and dispatch more than 100,000 volunteers and lawyers to monitor the electoral process in each battleground state and to mount aggressive challenges.On Wednesday, Mr. Trump said at the rally in Freeland that his campaign and national and state Republican parties would put together “a team of the most highly qualified lawyers and other professionals in the country to ensure that what happened in 2020 will never happen again.”“I will secure our elections because you know what happened in 2020,” Mr. Trump said at a rally in Waukesha, Wis., on Wednesday.Mr. Trump lost Wisconsin by more than 20,000 votes. More

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    Trump Acknowledges He Wanted to Go to the Capitol on Jan. 6

    Former President Donald J. Trump said on Wednesday that he asked his Secret Service detail to take him to the Capitol after his speech at the Ellipse on Jan. 6, 2021, acknowledging a key detail of his actions that were central to the findings of the House committee established to investigate the attack.During a campaign rally in Waukesha, Wis., Mr. Trump brought up a sensational but disputed element of testimony given to the House Jan. 6 committee by a Trump White House aide: that Mr. Trump had lunged for the wheel and physically struggled with Secret Service agents when they refused to take him to join the large crowd of supporters who were marching toward the Capitol.“I sat in the back,” Mr. Trump said, giving his version of events. “And you know what I did say? I said, ‘I’d like to go down there because I see a lot of people walking down.’ They said, ‘Sir, it’s better if you don’t.’ I said, ‘Well, I’d like to.’”“It’s better if you don’t,” Mr. Trump recounted an agent saying. The former president said he replied, “All right, whatever you guys think is fine,” and added, “That was the whole tone of the conversation.”President Biden’s campaign immediately highlighted Mr. Trump’s comments, amplifying that the former president had intended to participate in what would become an attack by his supporters on the Capitol in an effort to overturn Mr. Biden’s victory in the 2020 election.It is not the first time that Mr. Trump has spoken of his effort to go to the Capitol on Jan. 6. He has said in several interviews that he regretted not marching on the Capitol with his supporters that day, and that his Secret Service detail prevented him from doing so.“Secret Service said I couldn’t go,” Mr. Trump said in an interview with The Washington Post in April 2022. “I would have gone there in a minute.”Cassidy Hutchinson, the former White House aide, later testified to Mr. Trump’s conversation with Secret Service agents during televised hearings held by the House Jan. 6 committee. Ms. Hutchinson was not in the car with Mr. Trump, and said that her testimony to those events came secondhand or thirdhand from what other people had told her that day.In an interview with the same committee, Mr. Trump’s driver, whose name was not disclosed, said: “The president was insistent on going to the Capitol. It was clear to me he wanted to go to the Capitol.”Mr. Trump at the rally on Wednesday portrayed his requests to his Secret Service detail as casual ones.In the interview with investigators for the House panel, the driver said that while he did not see Mr. Trump accost agents or reach for the steering wheel, “what stood out was the irritation in his voice, more than his physical presence.”After Mr. Trump was driven back to the White House by his Secret Service detail, the former president sat and watched the ensuing violence play out on television, according to testimony by an array of former administration officials. After Mr. Trump’s speech at the Ellipse where he repeated his false claims that the election was stolen from him and urged attendees to march on the Capitol, a mob of his supporters overran police barricades to storm the building, temporarily disrupting the certification of Mr. Biden’s victory.In a lengthy interview with Time magazine published on Tuesday, Mr. Trump said he would “absolutely” consider pardoning every person who had been convicted on, or pleaded guilty to, charges related to the storming of the Capitol on Jan. 6. He also would not rule out the possibility of political violence after this year’s election.“I think we’re going to win,” he said. “And if we don’t win, you know, it depends. It always depends on the fairness of an election.” More

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    Justice Alito Is Holding Trump to a Different Standard

    I mentioned it in passing in my Friday column, but I was struck — disturbed, really — by one specific point made by Justice Samuel Alito during Thursday’s oral arguments in Trump v. United States.Alito began innocuously enough: “I’m sure you would agree with me that a stable democratic society requires that a candidate who loses an election, even a close one, even a hotly contested one, leave office peacefully if that candidate is the incumbent.”“Of course,” answered Michael Dreeben, the lawyer arguing the case for the Department of Justice.“Now,” Alito continued, “if an incumbent who loses a very close, hotly contested election knows that a real possibility after leaving office is not that the president is going to be able to go off into a peaceful retirement but that the president may be criminally prosecuted by a bitter political opponent, will that not lead us into a cycle that destabilizes the functioning of our country as a democracy?”The implication of Alito’s question is that presidential immunity for all official acts may be a necessary concession to the possibility of a politically motivated investigation and prosecution: Presidents need to be above the law to raise the odds that they follow the law and leave office without incident.If this sounds backward, that’s because it is.There have been, in the nearly 236 years since Americans ratified the Constitution, 45 presidents. Of those, 10 sought but did not win re-election. In every case but one, the defeated incumbents left office without incident. There was no fear that they would try to overturn the results or subvert the process, nor was there any fear that their successors would turn the power of the state against them. Thomas Jefferson did not try to jail John Adams after the close-fought 1800 election; he assured the American people that “we are all republicans, we are all federalists.” Jimmy Carter did not sic the F.B.I. on Gerald Ford in the wake of his narrow victory; he thanked him for “all he has done to heal our land.”By Alito’s lights, this should not have been possible. Why would a president leave if he could be prosecuted as a private citizen? The answer is that the other nine people who lost had a commitment to American democracy that transcended their narrow, personal or partisan interests.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    Arizona Charges Giuliani and Other Trump Allies in Election Interference Case

    Those charged included Boris Epshteyn, a top legal strategist for Donald Trump, and fake electors who acted on Mr. Trump’s behalf in Arizona after the 2020 election.Rudolph W. Giuliani, Mark Meadows, and a number of others who advised Donald J. Trump during the 2020 election were indicted in Arizona on Wednesday, along with all of the fake electors who acted on Mr. Trump’s behalf there to try to keep him in power despite his loss in the state.Boris Epshteyn, one of Mr. Trump’s top legal strategists, was also among those indicted, a complication for Mr. Trump’s defense in the criminal trial that began this week in Manhattan over hush money payments made to a porn star, Stormy Daniels.The indictment includes conspiracy, fraud and forgery charges, related to alleged attempts by the defendants to change the 2020 election results. Arizona is the fourth swing state to bring an elections case involving the activities of the Trump campaign in 2020, but only the second after Georgia to go beyond the fake electors whom the campaign deployed in swing states lost by Mr. Trump. The former president, who is seeking another term, was also named an unindicted co-conspirator in the Arizona case. “I understand for some of you today didn’t come fast enough, and I know I’ll be criticized by others for conducting this investigation at all,” Kris Mayes, Arizona’s Democratic attorney general, said in a recorded statement. “But as I have stated before and will say here again today, I will not allow American democracy to be undermined. It’s too important.”Read the Arizona Election IndictmentArizona on Wednesday indicted Rudolph W. Giuliani, Mark Meadows and a number of others who advised Donald J. Trump during the 2020 election, as well as the fake electors who acted on Mr. Trump’s behalf to try to keep him in power despite his loss in the state. Here is the indictment.Read Document 58 pagesWe are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More