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      Biden’s Remarkable Summer

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      Media narratives are driven by trajectory.Things get better or worse. People rise and fall. Maybe there is an upstart sensation who threatens the establishment. Maybe there is a spectacular fall from grace. Maybe there is a comeback. Regardless of the story, the direction of movement is what matters.Joe Biden got caught in one of those narratives: that things were going badly and people were losing confidence. Then, of course, the polls backed up that narrative, which provided a patina of proof.But the truth is that news narratives and polls are symbiotic. The narratives help shape what people believe, which is then captured by the polls, and those polling results are then fed back into news narratives as separate, objective and independent fact.“Joe Biden can’t catch a break” was a neat narrative. Every new disappointing data point fit snugly within it. But reality doesn’t play by media rules. It is often much more nuanced.As the legendary football coach Lou Holtz once put it: “You’re never as good as everyone tells you when you win, and you’re never as bad as they say when you lose.”Biden has had some bad months, to be sure, but there is no way to get around the fact the last month or so has been stellar for the administration.On the economic front, as of Wednesday, gas prices had fallen for 50 consecutive days, down 86 cents from the record average high of $5.02 on June 14, according to CNN. The jobs market has also shown incredible resilience. Friday’s jobs report alone far outpaced expectations.There are challenges. According to the Bureau of Labor Statistics, inflation increased “9.1 percent for the 12 months ending June, the largest 12-month increase since the period ending November 1981.” This doesn’t invalidate that Biden has had a good month; it only underscores the complexities of any news story.On the legislative front, in June, Biden signed the most significant federal gun safety legislation in nearly 30 years. Two weeks ago, his big spending bill, Build Back Better, which everyone thought was dead, was resurrected in the trimmed down form of the Inflation Reduction Act. Now, all Senate Democrats have gotten behind the bill and it has passed in that body. These developments don’t erase legislative disappointments like the failure of the voter protection bill or the police reform bill, but they are victories nonetheless.There are foreign policy wins, like the killing of the Al Qaeda leader Ayman al-Zawahri in Afghanistan, and the overwhelming vote in the Senate in favor of expanding NATO to include Finland and Sweden, a direct reaction to Russia’s invasion of Ukraine. And the Russians have suggested that they are open to discussing a prison swap to free Brittney Griner and Paul Whelan, both of whom are still being held in Russian custody. Here, again, there are challenges. For instance, tensions are heating up with China, particularly after a visit to Taiwan by the House speaker, Nancy Pelosi.Then, there is the uber issue of the Supreme Court striking down the right to an abortion. This was a gutting disappointment to liberals, and many have accused the White House of not reacting strongly enough.But it appears that the issue has roused some otherwise disinterested or dispassionate voters and may help Democrats to hold off a massive wave of Republican wins in the midterms. We need look no further than Kansas, a state that voted strongly for Trump in 2020, but that last week voted even more strongly to keep the right to an abortion in the state Constitution.Biden’s string of victories may not yet be enough to shift the narrative about him from spiraling to rebounding, but a fair read of recent events demands some adjustment.The White House must also shift its messaging, from defensive to offensive. I’ve never truly bought the argument that Biden’s polling was bad because he simply wasn’t doing enough to tout his accomplishments. There were some periods where the disappointments actually seemed to carry more weight than his achievements.But that’s not the case now, and the administration must seize this moment, and not be shy about shouting about its wins.This is one area where Donald Trump succeeded: boasting. When he was campaigning in 2016, he claimed that if he was elected, people might even “get tired of winning.” As he put it, people would say: “Please, please, it’s too much winning. We can’t take it anymore. Mr. President, it’s too much.” To which he said he would respond: “No it isn’t. We have to keep winning. We have to win more.”He would go through his term bragging about how anything that happened on his watch was the biggest and best.We now know that the Trump presidency was a disaster that nearly destroyed the country, but, if a failure like Trump can crow about all he did, even when the evidence wasn’t there, then surely Biden can find a way to do a little crowing of his own, particularly during one of the most successful stretches of his presidency.Biden, you did it. Boast about it.The Times is committed to publishing a diversity of letters to the editor. We’d like to hear what you think about this or any of our articles. Here are some tips. And here’s our email: letters@nytimes.com.Follow The New York Times Opinion section on Facebook and Twitter (@NYTopinion), and Instagram. More

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      Maybe Joe Biden Knows Joe Manchin Better Than We Thought

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      Gail Collins: Never really thought I’d be leading off with a toast to Joe Manchin, Bret, but troubled times require low expectations.Bret Stephens: You came around!Gail: Joe came around! Or caved, which sounds a little more satisfying. Of course we’ve still got his Senate colleague Kyrsten Sinema and her tax obsessions to worry about. But if it all comes together this week, we’ll get the big Biden program to battle climate change. Will that make you as happy as it would make me, hmm?Bret: Your happiness sounds like it’s an 8 or a 9 on a 10-point scale, and mine is probably around a 5. The Senate just passed a $280 billion bill to support the semiconductor industry under the guise of standing up to China, which is really just a huge giveaway to Intel and other U.S. chip makers. Now we’re dropping another $369 billion, and a lot of that will be in the form of corporate subsidies for companies like Tesla and General Motors. I know Manchin and Larry Summers are saying this will help bring down inflation. But pumping a lot of money into an economy usually has the opposite effect.On the other hand, it’s a whole lot less than the trillions the administration wanted to spend last year, so I’ll take that as a victory. It might keep the nuclear industry alive, which is also vital if we are serious about tackling climate change, and it might also reduce some of the permitting bottlenecks that get in the way of energy infrastructure. And the two bills are solid legislative wins for President Biden, who really, really needed them.Gail: As did all of us who are still Friends of Biden — although I guess we’d prefer not to be called F.O.B.s.Bret: Shame the news arrives the same week we get the second straight quarter of negative economic growth, which is … not a recession?Gail: I prefer to think of it as an, um, a very relaxed financial time.Bret: Not sure how much it would help Biden if he were to say, “Folks, the economy isn’t stalling. It’s relaxing.” Sorry, go on.Gail: And while of course politics is utterly beside the point — who in the world would worry about the entire makeup of Congress? — this legislation has got to help the Democrats come election time. Lots of good reasons we’re in an economic … slump. But you’ve got to be able to deliver a plan for making things better.One of my favorite parts of the bill is the way it clamps down on pharmaceutical companies. Like giving the government power to negotiate on the prices of some drugs covered by Medicare.Bret: Terrible! Price controls inevitably lead to less innovation, fewer incentives to manufacture generics and biosimilars and crazy distortions as pharmaceutical companies jack up the price of some drugs to make up for lost revenue in others. It’s just as bad an idea as rent control and rent stabilization, which is great for some but distorts the overall market and makes the city more expensive.Gail: Hey, we the taxpayers are funding those drugs and we should get assurance that all our money isn’t going to Big Pharma’s profits.Sorry, go on.Bret: I still don’t see the legislation swinging a lot of votes to the Democrats in the midterms. Biden also got his big infrastructure bill passed last year and it didn’t help him one bit politically. The only thing that can save the Democrats now is Donald Trump and his dumb political endorsements.Gail: Anybody you’re thinking of in particular? For instance, that dweeb Blake Masters in Arizona who we talked about recently? The one who now graciously admits he “went too far” when he wrote a youthful essay implicitly criticizing American involvement in World War II. I believe you said if you were voting in Arizona and Masters won the primary, you’d support the — hehehehe — incumbent Democrat, Mark Kelly.Bret: Yes, reluctantly. As David Sedaris might put it, the choice between Democrats and most Republicans these days is like a choice between a day-old baloney sandwich with a sad little pickle on a stale roll versus a plate of rancid chicken served with a sprinkling of anthrax on a bed of broken glass.I’ll take the sandwich.Gail: Got some other big primaries coming up on Tuesday besides Arizona. I’m sure a lot of Missouri Republicans would be happy to see the end of Eric Greitens, a former governor, who now seems to be fading in his run for the Senate. Can’t imagine why, given that he was forced to resign from office in an ethics crisis that included a mind-boggling sex scandal.Bret: The fact that he was the front-runner, at least until recently, really tells you that the G.O.P. has reached its psychotic stage. To recap, Greitens, a former Rhodes Scholar and Navy SEAL, resigned in disgrace as governor four years ago after barely a year in office. Later, his ex-wife alleged in a sworn affidavit, which Greitens disputes, that he knocked her down and confiscated her cellphone, wallet and keys to keep her and their children prisoner in their home. Also, that he was physically violent toward their 3-year-old son.Gail: Which really should have sealed the deal.Bret: More recently, he filmed an ad that was a live-action fantasy of shooting RINOs — “Republicans in Name Only” — that struck many of us as a pretty open invitation to violence. Even Josh Hawley thinks he’s vile, which is like Nikita Khrushchev taking a strong moral exception to Mao Zedong.Gail: Seems like his fading in the polls shouldn’t require a celebration, but we’ll take what we can get.Bret: As for Masters, his candidacy seems to rest on his promotion of so-called replacement theory.Gail: Yes, the idea that Democrats are encouraging immigration so they can create a minority-majority of voters.Bret: It’s almost amusing, since the most significant replacement to happen in Arizona was the one in which white settlers stole sovereign Mexican territory in an unprovoked invasion and dispossessed Native American tribes.Gail: Bless you.Bret: It’s also a master class in political malpractice, since it only alienates Hispanic voters, who are often fairly conservative and increasingly open to voting for Republicans. Are you feeling optimistic?Gail: Have to admit I’m kinda worried that a lot of liberal voters — particularly the younger ones — are just so appalled by the way things have been going with abortion and guns, and so depressed by the state of the economy, that they’ll just sit this one out.Bret: Yeah, but don’t discount the rancid chicken factor. As in, for instance, the Senate race in Georgia, or the governors’ races in Maryland and Pennsylvania.Gail: Well, just to stick with Georgia for a second, it does seem a guy like Herschel Walker, with a really dreadful performance record as a father, should have tried not to build his campaign around being a family-values candidate.Bret: With luck, maybe after a few losses Republican voters will finally get the message that a Trump endorsement in the primary is the political kiss of death in the general election.Then again, it would also help Democrats if someone cured Biden of his habit of saying things that quickly prove totally wrong. The other day he said there wasn’t going to be a recession. Before that, inflation was “temporary.” Last summer, it was that the Taliban wasn’t going to overrun Kabul. You can almost know what’s coming by expecting the opposite of whatever he predicts. That’s why I’m confident he won’t run for a second term. He keeps insisting that he will.Gail: I still don’t see any point in Biden’s announcing he won’t run this early in the calendar. He should wait until the end of the midterm elections. Then we can all turn our attention to the hordes of would-be successors waving their hands.That’ll still give Democrats a year to check out the options. Don’t you think that’s enough?Bret: If you’re the billionaire governor of Illinois, Jay Pritzker, it doesn’t make that much of a difference, since fund-raising isn’t an issue. Pete Buttigieg can’t be feeling as lucky. But either way I think it would be better for Biden to announce before the midterms. Maybe he will even find it liberating to be a president who can really govern for the rest of his term without the burden of a presumptive campaign and all the nagging questions about it. And it will send the message that he has the grace and wisdom to know it’s time to step aside, which is more than can be said for the Chuck Grassleys and Dianne Feinsteins of politics.Gail: Biden’s political clout, wobbly as it is right now, will vanish completely if he embraces lame-duck-hood. Announcing he’s not running by the end of the year seems a good timetable. But of course actually trying to stay in for another race would be a disaster.Bret: Gail, before we go we should probably mention that we’ll be taking the next two weeks off for travel and family. Any parting suggestions or recommendations for our readers till we reconvene?Gail: Stay cool, read something good — I’ve really been enjoying “A Gentleman in Moscow,” by Amor Towles, a novel about a count who’s trapped in his hotel after the Russian Revolution. That’s one for now, but when we get back, Bret, we’ve got to have that favorite-books conversation we’re always threatening to have.And what’s your tip?Bret: Same. Devote a few weekend mornings to some of the terrific longer pieces in The Times. Start with Alex Vadukul’s devastating, breathtaking portrait of Daniel Auster, Paul Auster’s son. It’s a modern-day “American Tragedy,” worthy of Dreiser. Then get out in the sun and count your life’s blessings. I hope there are many.The Times is committed to publishing a diversity of letters to the editor. We’d like to hear what you think about this or any of our articles. Here are some tips. And here’s our email: letters@nytimes.com.Follow The New York Times Opinion section on Facebook, Twitter (@NYTopinion) and Instagram. More

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      Biden Savors Much-Needed Victories. But Will the Highs Overshadow the Lows?

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      With the midterm elections around the corner, the challenge for President Biden is to make sure his latest successes resonate with Americans who remain deeply skeptical about the future.WASHINGTON — President Biden and his top advisers have tried for months to press forward amid a seemingly endless drumbeat of dispiriting news: rising inflation, high gas prices, a crumbling agenda, a dangerously slowing economy and a plummeting approval rating, even among Democrats.But Mr. Biden has finally caught a series of breaks. Gas prices, which peaked above $5 a gallon, have fallen every day for more than six weeks and are now closer to $4. After a yearlong debate, Democrats and Republicans in Congress passed legislation this past week to invest $280 billion in areas like semiconductor manufacturing and scientific research to bolster competition with China.And in a surprise turnabout, Senator Joe Manchin III of West Virginia, a Democrat who had single-handedly held up Mr. Biden’s boldest proposals, agreed to a deal that puts the president in a position to make good on promises to lower drug prices, confront climate change and make corporations pay higher taxes.“The work of the government can be slow and frustrating and sometimes even infuriating,” Mr. Biden said at the White House on Thursday, reflecting the impatience and anger among his allies and the weariness of his own staff. “Then the hard work of hours and days and months from people who refuse to give up pays off. History is made. Lives are changed.”Even for a president who has become used to the highs and lows of governing, it was a moment to feel whipsawed. Since taking office 18 months ago, Mr. Biden has celebrated successes like passage of the $1.9 trillion stimulus bill and slogged through crises like the chaotic withdrawal from Afghanistan. Gas prices soared; now they are coming down. Unemployment is at record lows even as there are signs of a looming recession.The president’s brand of politics is rooted in a slower era, before Twitter, and sometimes it can pay off to have the patience to wait for a deal to finally emerge. But now, with congressional elections coming up in a few months, the challenge for Mr. Biden is to make sure his latest successes resonate with Americans who remain deeply skeptical about the future.The magnitude of the Senate deal was received like a splash of icy water across Washington, which had all but written off the possibility that Mr. Biden’s far-reaching ambitions could be revived this year. Republicans moved quickly to attack the proposal, with Senator Mitch McConnell of Kentucky, the Republican leader, deriding what he described as “giant tax hikes that will hammer workers.”The Senate deal puts the president in a position to make good on his promise to confront climate change.Kenny Holston for The New York TimesInside the West Wing, aides were forced to scramble to come up with talking points for a deal almost no one saw coming. If Congress manages to pass the compromise reached with Mr. Manchin, they argue, it will move the country to the forefront on addressing the globe’s changing climate and lower drug prices even as it raises money from corporations to lower the federal budget deficit.The deal would give Medicare the power to negotiate lower prices for millions of Americans, extend health care subsidies under the Affordable Care Act for three years and require corporations to pay a minimum tax — something many progressive Democrats have been demanding for years.Key Themes From the 2022 Midterm Elections So FarCard 1 of 6The state of the midterms. More

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      Targeting ‘Woke Capital’

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      West Virginia’s banning of five big Wall Street banks for doing business with the state is yet another step toward a politicized world of red brands and blue brands. Florida’s DeSantis: Make profits great again.Phelan M. Ebenhack/Associated PressStates take action against ‘woke C.E.O.s’ Five big Wall Street firms woke up to a headache yesterday, and the ailment seems to be spreading fast. Riley Moore, the outspoken treasurer of West Virginia, announced that Goldman Sachs, JPMorgan, BlackRock, Morgan Stanley and Wells Fargo were banned from doing business with the state because they had stopped supporting the coal industry, reports The Times’s David Gelles.The banks have sharply reduced financing for new coal projects, while BlackRock has been reducing its actively managed holdings in coal companies since 2020. Coal, the most polluting fossil fuel, has become less profitable in recent years.Some of the firms do business with West Virginia in various ways. JPMorgan, for example, handles some banking services for West Virginia’s public university. But the dollar figures are relatively small, and the law does not affect the holdings of the state’s pension fund.The development is yet another step toward a politicized world of red brands and blue brands. In these hyperpartisan times, companies are increasingly being caught between conservatives and progressives, and some brands are being typecast as Republican or Democratic. The timing of the announcement was striking, coming just hours after Senator Joe Manchin of West Virginia, who had been the chief Democratic holdout on climate legislation, relented and agreed to sign on.Meanwhile in Florida, Gov. Ron DeSantis unloaded on the supposedly “woke” ideology of some financial services firms, criticizing E.S.G. investing and announcing plans for legislation that would “prohibit big banks, credit card companies and money transmitters from discriminating against customers for their religious, political or social beliefs.” At a news conference this week, he also said he wanted to prohibit the state’s pension fund managers from considering environmental factors when making investment decisions. Instead, he said, they need to be focusing only on “maximizing the return on investment.”Businesses now “marginalize” people because of political disagreements, DeSantis said. “That is not the way you can run an economy effectively.” He singled out PayPal, which has cut off accounts associated with far-right groups that participated in the Jan. 6 Capitol riot, and GoFundMe, which blocked donations to a group supporting truckers who occupied Ottawa this year.HERE’S WHAT’S HAPPENING Amazon’s shares soar as the company says consumer demand remains strong. The positive comments from C.E.O. Andrew Jassy and other top executives caused investors to shrug off the fact that the giant internet retailer reported its slowest quarterly sales growth in two decades, and has cut nearly 100,000 workers. Apple’s quarterly results were also better than expected, as Big Tech’s profits have been resilient even as the economy has slowed.The eurozone economy grew faster than expected, but so did inflation. Positive G.D.P. growth for the region, a day after the U.S. reported that economic growth slumped for the second quarter in a row, relieved some worries about growing stagflation. Still, inflation in the eurozone hit 8.9 percent in July compared with a year ago, a fresh record.The Biden administration plans to offer updated booster shots in September. With reformulated shots from Pfizer and Moderna on the horizon, the F.D.A. has decided that Americans under 50 should wait to receive second boosters.Read More About Oil and Gas PricesPrices Drop: U.S. gas prices have been on the decline, offering some relief to drivers. But weather, war and demand will influence how long it lasts.Stock Market: As financial markets around the world fell this spring amid worries about inflation and rising interest rates, energy was the only sector gaining ground. Summer Driving Season: The spike in gas prices is being driven in part by vacationers hitting the road. Here’s what our reporter saw on a recent trip.Gas Tax Holiday: President Biden called on Congress to temporarily suspend the federal gas tax, but experts remain skeptical the move would benefit consumers much, because tax is such a small percentage of the price you pay at the pump..A new book reignites a debate about how L.A. Times editors handled a 2017 exposé. Paul Pringle, a veteran reporter at the L.A. Times, writes in his book “Bad City” that top editors tried to slow-walk the paper’s initial groundbreaking article, which detailed how the dean of the University of Southern California’s medical school used drugs with young people.Trader Joe’s workers at a Massachusetts store form a union. It is the only one of the supermarket chain’s more than 500 stores with a formal union, but similar moves are afoot elsewhere, just as the union campaign has spread at Starbucks. Trader Joe’s will face at least one more union vote soon, at a Minneapolis store next month, and workers at a store in Colorado filed an election petition this week.Big oil’s big profitsOil companies are reporting surging profits, even as consumers and world leaders are dealing with the hardships caused by higher energy prices.Buoyed by high oil and gas prices, the energy sector is expected to have swelled earnings by more than 250 percent in the second quarter. Exxon Mobil and Chevron, the U.S.’s two largest oil companies, reported record profits this morning, with Exxon’s profit more than tripling from a year ago. Europe’s biggest oil companies, Shell and TotalEnergies, yesterday reported a combined $21 billion in profits.The fallout from Russia’s invasion of Ukraine has led to significant financial benefits for energy companies and their investors. The pain of rising energy prices and shortages, though, has been felt particularly strongly by consumers and businesses in Europe, which received roughly half of Russia’s oil exports before the invasion. In Asia and Africa, higher energy prices could push millions of people back into energy poverty, the International Energy Agency warned last month.It’s also led to claims of profiteering. President Biden said last month that oil companies were benefiting from their own underinvestment in refining capacity. In Britain, Boris Johnson, the outgoing prime minister, imposed a windfall tax on major oil and gas companies. But a top contender to replace him, Liz Truss, said that she opposed the tax because it would send “the wrong signal to the world,” and that Shell should be encouraged to invest in Britain.Oil companies have pointed the finger back at politicians. Ben van Beurden, Shell’s chief executive, said yesterday that energy prices were high in part because of government policies that discouraged investment in oil and natural gas in recent years.Gas prices in the U.S. have fallen over the last month, and there are some indications that more relief could be ahead. Citigroup said in a research note today that it expected growth in the supply of oil to outpace weaker demand. Still, geopolitical factors and the weather could change the trajectory of prices, particularly if the U.S. has an active hurricane season that disrupts refining capacity. “Just a few of these risks materializing could work up a continued perfect storm of high volatility,” Citigroup said.“There is a principle at stake. What can you buy if you have unlimited cash? Can you bend every rule? Can you take apart monuments?”— Stefan Lewis, a former member of Rotterdam’s City Council, explaining the outrage over the city’s decision, which has since been reversed, to temporarily dismantle a bridge to accommodate Jeff Bezos and his superyacht.The dark secrets of corporate subsidy deals Every year, state and local officials negotiate about $95 billion in economic development deals, competing with one another to recruit companies to their communities with lucrative subsidies in exchange for their business.But some corporations are becoming increasingly aggressive about forcing officials to sign nondisclosure agreements that could end up hurting the communities that the businesses were supposed to help, according to a new report by the American Economic Liberties Project, a progressive antitrust advocacy group. The N.D.A.s sometimes prohibit officials from disclosing basic information about a corporation, like its name and the type of business it’s building, Pat Garofalo, an author of the report, told DealBook.These N.D.A.s prevent community members, like workers and local businesses, from sharing their input on the deal until after it is completed. One recent example is the $4 billion battery factory that Panasonic will build in Kansas, which will get nearly $1 billion in subsidies. Before the deal was completed, Panasonic was also negotiating with Oklahoma, and the states were in a bidding war over the electronics giant’s business. But lawmakers could not talk about the corporation on the other side of the bargaining table in public — and sometimes didn’t even know its name. In April, Oklahoma officials complained that they had two hours to contemplate a complex incentive package worth $700 million, or about 8 percent of the state budget. “How am I supposed to go back to my constituents and say, ‘I gave away three-quarters of a billion dollars to a company that I don’t even know their name?’ Is that responsible?” State Representative Collin Walke said during an appropriations meeting.Some states have introduced bills to ban these N.D.A.s, which the report calls “an extremely common tactic” in development deals. This year, such legislation was introduced in New York, Michigan, Illinois, and Florida. New York’s State Senate voted unanimously to approve a ban. Garofalo thinks the New York lawmakers were galvanized by the Amazon HQ2 bid that fell apart in 2019. But he notes that communities don’t have to wait for politicians to fix the problem. Engaged citizens have used public meeting and records laws to solve subsidy mysteries, and sometimes a little transparency is all it takes, Garofalo said. “When the public does get a say,” he told DealBook, “the deals are better, or bad deals are knocked off right away.”THE SPEED READ Deals“Private equity giant Carlyle’s latest big play: Small Brooklyn buildings” (The Real Deal)Ernst & Young’s plan to split is reportedly being held up by debt issues. (WSJ)Newsmax renewed a deal to be carried by Verizon’s Fios, days before its rival One America News is to be dropped. Both are known for their loyalty to former President Trump. (NYT)PolicyThe private equity industry is objecting to a proposed U.S. tax increase on carried-interest income. (NYT)“Dry Fountains, Cold Pools, Less Beer? Germans Tip-Toe Up the Path to Energy Savings” (NYT)The big question is not whether the U.S. is in a recession. It’s whether the economy’s problems will worsen. (NYT’s The Morning)Best of the restArchitects have a reimagined vision for the former Deutsche Bank atrium at 60 Wall Street, with plans to make it look less like a Mediterranean spa and more like a Singapore airport. (NYT)Instagram is rolling back some product changes after celebrities like Kylie Jenner and Kim Kardashian criticized them. (NYT)TV showrunners are demanding that studios create protocols to protect employees in states where abortion has been outlawed. (Variety)Richard Rosenthal, the top defense lawyer for dangerous dogs, has even frustrated animal rights groups. (NYT)We’d like your feedback! Please email thoughts and suggestions to dealbook@nytimes.com. More

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      3 Senate Hopefuls Denounce Big Tech. They Also Have Deep Ties to It.

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      For Republicans running for the Senate this year, “Big Tech” has become a catchall target, a phrase used to condemn the censorship of conservative voices on social media, invasions of privacy and the corruption of America’s youth — or all of the above.But for three candidates in some of the hottest races of 2022 — Blake Masters, J.D. Vance and Mehmet Oz — the denunciations come with a complication: They have deep ties to the industry, either as investors, promoters or employees. What’s more, their work involved some of the questionable uses of consumer data that they now criticize.Mr. Masters and Mr. Vance have embraced the contradictions with the zeal of the converted.“Fundamentally, it is my expertise from having worked in Silicon Valley and worked with these companies that has given me this perspective,” Mr. Masters, who enters the Republican primary election for Senate in Arizona on Tuesday with the wind at his back, said on Wednesday. “As they have grown, they have become too pervasive and too powerful.”Mr. Vance, on the website of his campaign for Ohio’s open Senate seat, calls for the breakup of large technology firms, declaring: “I know the technology industry well. I’ve worked in it and invested in it, and I’m sick of politicians who talk big about Big Tech but do nothing about it. The tech industry promised all of us better lives and faster communication; instead, it steals our private information, sells it to the Chinese, and then censors conservatives and others.”But some technology activists simply aren’t buying it, especially not from two political newcomers whose Senate runs have been bankrolled by Peter Thiel, the first outside investor in Facebook and a longtime board member of the tech giant. Mr. Thiel’s own company, Palantir, works closely with federal military, intelligence and law enforcement agencies eager for access to its secretive data analysis technology.“There’s a massive, hugely profitable industry in tracking what you do online,” said Sacha Haworth, the executive director of the Tech Oversight Project, a new liberal interest group pressing for stricter regulations of technology companies. “Regardless of these candidates’ prospects in the Senate, I would imagine if Peter Thiel is investing in them, he is investing in his future.”Mr. Masters, a protégé of Mr. Thiel’s and the former chief operating officer of Mr. Thiel’s venture capital firm, oversaw investments in Palantir and pressed to spread its technology, which analyzes mountains of raw data to detect patterns that can be used by customers.Palantir’s initial seed money came from the C.I.A., but its technology was adopted widely by the military and even the Los Angeles Police Department. Mr. Masters and Mr. Thiel personally pressed the director of the National Institutes of Health to buy into it.Sharecare, a website whose consortium of investors included Mehmet Oz, answered consumer questions about health issues.Dr. Oz, the Republican nominee for an open Senate seat in Pennsylvania, was part of a consortium of investors that founded Sharecare, a website that offered users the chance to ask questions about health and wellness — and allowed marketers from the health care industry the chance to answer them.A feature of Sharecare, RealAge Test, quizzed tens of millions of users on their health attributes, ostensibly to help shave years off their age, then released the test results to paying customers in the pharmaceutical industry.Mr. Vance, the Republican nominee in Ohio and another Thiel pupil, used Mr. Thiel’s money to form his venture capital firm, Narya Capital, which helped fund Hallow, a Catholic prayer and meditation app whose privacy policies allow it to share some user data for targeted advertising.The Vance campaign said the candidate’s stake in Hallow did not give him or his firm decision-making powers, and Alex Jones, Hallow’s chief executive, said private, sensitive data like journal entries or reflections were encrypted and not sold, rented or otherwise shared with data brokers. He said that “private sensitive personal data” was not shared “with any advertising partners.”Peter Thiel has bankrolled Mr. Masters and J.D. Vance in their Senate campaigns.Marco Bello/Getty ImagesAll three Senate candidates have targeted the technology industry in their campaigns, railing against the harvesting of data from unsuspecting users and invasions of privacy by greedy firms.“These companies take this data and sell precisely targeted ads so effective they verge on predatory,” Mr. Masters wrote in an opinion article last year in The Wall Street Journal. “They then optimize their platforms to keep you online to receive ever more ads.”In a gauzy video posted in July 2021, Mr. Masters says, “The internet, which was supposed to give us an awesome future, is instead being used to shut us up.”Mr. Vance, in a campaign Facebook video, suggested that Congress make data collection illegal — or at least mandate disclosure — before technology companies “harvest our data and then sell it back to us in the form of targeted advertising.”In a December video appearance soon after he announced his campaign, Dr. Oz proclaimed, “I’ve taken on Big Pharma, I’ve gone to battle with Big Tech, I’ve gone up against agrochem companies, big ones, and I’ve got scars to prove it.”It is not surprising that more candidates for high office have deep connections to the technology industry, said Michael Rosen, an adjunct fellow at the conservative American Enterprise Institute who has written extensively about the industry. That’s where the money is these days, he said, and technology’s reach extends through industries including health care, social media, hardware and software and consumer electronics.“What is novel in this cycle is to have candidates ostensibly on the right who are arguing for the government to step in and regulate these companies because, in their view, they cannot be trusted to regulate themselves,” Mr. Rosen said.He expressed surprise that “a free-market, conservative-type candidate thinks that the government will do a fairer and more reliable job of regulating and moderating speech than the private sector would.”Technology experts on the left say candidates like Mr. Masters and Mr. Vance are Trojan horses, taking popular stances to win federal office with no intention of pursuing those positions in the Senate.On his website, Mr. Vance says, “I’m sick of politicians who talk big about Big Tech but do nothing about it.”Maddie McGarvey for The New York TimesMs. Haworth, whose group has taken aim at platforms like Facebook and Amazon, said states like California were already moving forward with regulations to prevent online marketers from steering consumers to certain products or unduly influencing behavior.She said she believed that Republicans, if they took control of Congress, would impose weak federal rules that superseded state regulations.“Democrats should be calling out the hypocrisy here,” she said.Mr. Masters said he was sympathetic to concerns that empowering government to regulate technology would only lead to another kind of abuse, but, he added, “The answer in this age of networked monopolies is not to throw your hands up and shout ‘laissez-faire.’”Multinational technology firms like Google and Facebook, Mr. Masters said, have exceeded national governments in power.As for the “Trojan horse” assertion, he said, “When I am in the U.S. Senate, I am going to deliver on everything I’m saying.”It is not clear that such complex matters will have an impact in the fall campaigns. Jim Lamon, a Republican Senate rival of Mr. Masters’s in Arizona, has aired advertisements tarring him as a “fake” stalking horse for the California technology industry — but with limited effectiveness. At a debate this month, Mr. Lamon said Mr. Masters was “owned” by his paymasters in Big Tech.But Mr. Masters, who has the endorsement of former President Donald J. Trump, appears to be the clear favorite for the nomination.Representative Tim Ryan, Mr. Vance’s Democratic opponent in Ohio, has made glancing references to the “Big Tech billionaires who sip wine in Silicon Valley” and bankroll the Republican’s campaign.John Fetterman, the Democratic opponent of Dr. Oz in Pennsylvania, has not raised the issue.Taylor Van Kirk, a spokeswoman for Mr. Vance, said he was very serious about his promises to limit the influence of technology companies.“J.D. has long been outspoken about his desire to break up Big Tech and hold them accountable for their overreach,” she said. “He strongly believes that their power over our politics and economy needs to be reduced, to protect the constitutional rights of Americans.”Representatives of the Oz campaign did not respond to requests for comment. More

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      Big Tech and the Fed

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      Some tech companies’ earnings are flagging, in what could be a positive sign for the Federal Reserve.Still big.Noah Berger/Agence France-Presse — Getty ImagesWhat tech earnings say about the economy The long-booming bottom lines of major tech companies are all of a sudden smaller than expected. That might be a good thing. Big Tech sailed through the pandemic with its profits mostly intact. The fact that some firms’ results are now flagging could be a positive sign for the Federal Reserve, which is trying to engineer a slowdown as it fights the nation’s worst bout of inflation in four decades.The big question for investors, and perhaps the Fed, is whether the profits of Apple, Alphabet, Amazon and the other tech giants, along with corporate America in general, have fallen enough.Microsoft and Alphabet, Google’s parent company, kicked off what appears to be a disappointing round of quarterly reports for the U.S.’s largest tech companies yesterday. Meta will release its results this afternoon, with Apple and Amazon rounding out Big Tech’s earnings announcements tomorrow.Microsoft’s profits, while below expectations, were still up. Sales of its signature software products, like Office, rose 13 percent. Its cloud services were up 40 percent. And LinkedIn, the professional social network Microsoft bought in 2016, grew 26 percent from a year ago, continuing to benefit from the tightest job market in decades.Alphabet’s sales rose 13 percent. In another good sign for the economy, the jump was driven by better-than-expected sales in its core Google search engine business, while results were mixed elsewhere. A jump in expenses and an exit from its Russian-related businesses caused profits to slump 14 percent.The results were positive enough for investors. Alphabet’s shares rose nearly 5 percent on the earnings news to $110. Microsoft’s shares jumped $10, or nearly 4 percent, to $262. Executives at both companies said they saw evidence of a weaker economy. “We are not immune to what is happening in the macro broadly,” Satya Nadella, Microsoft’s chief executive, said on a call with analysts. Alphabet’s chief financial officer, Ruth Porat, told analysts that a pullback in spending by some advertisers reflected “uncertainty about a number of factors.”Few are betting that the earnings reports will change the Fed’s approach. Its policymakers are meeting this week, and they are widely expected to continue raising benchmark interest rates. While central bankers “will likely acknowledge a recent weakening in economic momentum, the Fed will likely feel the need to appear resolute in battling inflation until there are clear signs that it is abating,” wrote David Kelly, the chief global strategist of J.P. Morgan Asset Management, in a note to clients earlier this week.HERE’S WHAT’S HAPPENING Kraken, the crypto exchange, is under investigation for possible sanctions violations. The Treasury Department is looking into whether Kraken illegally allowed users in Iran and elsewhere to buy and sell digital tokens. Shares of Coinbase, a larger crypto exchange, plunged yesterday after reports that the S.E.C. was investigating whether it allowed trading in unregistered securities. Cathie Wood’s Ark funds reportedly dumped Coinbase shares yesterday for the first time this year.Antitrust legislation aimed at Big Tech may be off the table for now. Chuck Schumer, the Senate majority leader, told donors at a Capitol Hill fund-raiser yesterday that the American Innovation and Choice Online Act, which he had promised to bring to a vote this summer, lacks the support needed to get it to the Senate floor, Bloomberg reported. The bill’s bipartisan backers have been pressuring Schumer to act fast, before midterm elections that could change the balance of power in Congress.One America News, once a dependable Trump promoter, is struggling to survive. The network is being dropped by major carriers and faces a wave of defamation lawsuits for its outlandish stories about the 2020 election. OAN’s most recent blow is from Verizon, which will stop carrying the network on its Fios television service this week. It is now available to only a few thousand people who subscribe to regional cable providers.Teva Pharmaceuticals reaches a tentative $4.25 billion settlement over opioids. The proposed settlement, which is with some 2,500 local governments, states and tribes, would end thousands of lawsuits against one of the largest producers of the painkillers during the height of the opioid epidemic.Florida’s largest utility secretly funded a website that attacked its critics. Florida Power & Light bankrolled and controlled The Capitolist, a news site aimed at Florida lawmakers, through intermediaries from an Alabama consulting firm, an investigation by The Miami Herald found. The site claimed to be independent, but it advocated rate hikes and legislative favors in efforts that were directed by top executives at the utility.BlackRock downshifts on E.S.G. BlackRock, the world’s largest asset manager, slashed its support for shareholder proposals on environmental and social issues this year, backing only 24 percent of such resolutions in the proxy season that ended in June, down from 43 percent in the previous period. The firm, which has long led the conscious investing movement, said this year’s proposals were “less supportable” and cited new regulatory guidance that opened the door to a broader range of policy-related proposals.The firm has criticized overly “prescriptive” resolutions. In a May memo, BlackRock signaled that Russia’s war in Ukraine was straining global energy supplies and shifting its calculations. “Many climate-related shareholder proposals sought to dictate the pace of companies’ energy transition plans despite continued consumer demand,” wrote the firm’s global head of investment stewardship, Sandy Boss. She noted that shareholders generally supported fewer environmental and social proposals this year as well, voting for 27 percent of resolutions, down from 36 percent in the previous proxy period.Opposition to E.S.G. is mounting. The environmental, social and governance investment push has been labeled “woke capitalism” by critics and is under fire from executives like Tesla’s Elon Musk, major investors like Bill Ackman and Republican politicians. In a speech yesterday, former Vice President Mike Pence, a possible 2024 hopeful, said that big government and big business were together advancing a “pernicious woke agenda.”E.S.G. supporters say critics may have a point. Andrew Behar, C.E.O. of the shareholder advocacy group As You Sow, agrees that many supposed E.S.G. investments don’t reflect true sustainability — with ever more capital directed toward the idea and many funds failing to live up to their promises. Behar argued that more corporate disclosures — which anti-E.S.G. groups oppose — would help to ensure that green investing actually works. He argues that critics also ignore a key financial incentive driving investor interest: knowing and lowering the costs of environmental issues throughout company operations, including risks from changing weather and the transition to more sustainable models. “We don’t have an E.S.G. problem,” Behar told DealBook. “We have a naming problem.”“I quit Starbucks. I had to. I just didn’t feel like that was justifiable. It’s like a small car payment.” — Fontaine Weyman, a 43-year-old songwriter from Charleston, S.C., on changing her coffee habits. Many Americans are dealing with the fastest inflation of their adult lives across a broad range of goods and services.Instagram tries to explain itself Instagram responded yesterday to criticism from some of its most popular users, including Kylie Jenner, about new features that made it more like its top rival, TikTok, the fast-growing video app owned by the Chinese company ByteDance.Adam Mosseri, Instagram’s head, said that it was experimenting with several changes, and that he knew users were unhappy. “It’s not yet good,” he said of some of the tweaks in a video post. He stressed Instagram’s commitment to photos, the app’s original focus, but said, “I’m going to be honest, I do believe that more and more of Instagram is going to become video over time.”Reels, a short-video product, is one of the six main investment priorities at Meta, which owns Facebook and Instagram, according to an internal memo last month from Chris Cox, the company’s chief product officer. Cox said that users had doubled the amount of time they spent on Reels year over year, and that Meta would prioritize boosting ads in Reels “as quickly as possible.” Last week, Instagram announced that almost all videos in the app would be posted as Reels.The changes come as Meta heads into a new phase. Mark Zuckerberg, its founder and chief executive, has cut costs, reshuffled his leadership team and made clear that low-performing employees will be let go, writes The Times’s Mike Isaac. “Realistically, there are probably a bunch of people at the company who shouldn’t be here,” Zuckerberg said on a call late last month. In recent months, profit at Meta has fallen and revenue has slowed as the company has spent lavishly on augmented and virtual reality projects, and as the economic slowdown has hurt its advertising business.The high-profile complaints about Instagram’s revamp started in recent days, when Kylie Jenner, the beauty mogul with 361 million Instagram followers, shared an image on the site that read: “Make Instagram Instagram again. (stop trying to be tiktok i just want to see cute photos of my friends.) Sincerely, everyone.”“PRETTY PLEASE,” Kim Kardashian, Jenner’s half sister and the seventh-most-followed Instagram user, echoed in a later post. Yesterday, Chrissy Teigen, a model and author with 39 million followers, responded to Mosseri in a tweet, saying, “we don’t wanna make videos Adam lol.”Companies have reason to listen when social media stars speak up, writes The Times’s Kalley Huang. In 2018, after Snapchat overhauled its interface, Jenner tweeted: “sooo does anyone else not open Snapchat anymore? Or is it just me….” Within a week, Snap, the app’s parent company, had lost $1.3 billion in market value.THE SPEED READ DealsThe activist investor Elliott Management reportedly has a stake in Paypal and is pushing it to cut costs faster. (WSJ, Bloomberg)Twitter shareholders will be asked to vote on Elon Musk’s potential acquisition in September. (Bloomberg)PolicyThe Senate advanced an industrial policy bill that includes more than $52 billion in subsidies for chip makers building U.S. plants. (NYT)The short seller Carson Block is being sued over a $14 million award from the S.E.C. that raised questions about the agency’s whistle-blower program. (Bloomberg)After Apple launched a “buy now, pay later” service, the top U.S. consumer finance regulator warned Big Tech about undermining competition in the sector. (FT)A federal judge ruled that Uber doesn’t have to offer wheelchair-accessible cars in every city. (The Verge)Best of the restCredit Suisse, which reported larger second-quarter losses than expected, replaced its C.E.O. (FT)Customers are paying billions of dollars in fees for “free” checking. (Bloomberg)The default settings in Apple, Google, Amazon and Microsoft products that you should turn off right away. (NYT)This man sells mud to Major League Baseball. (NYT)“The Case of the $5,000 Springsteen Tickets” (NYT)R.I.P., Choco Taco. (NYT)We’d like your feedback! Please email thoughts and suggestions to dealbook@nytimes.com. More

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      Twitter Takes Round 1

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      Judge Kathaleen McCormick granted the social media giant’s request for an expedited hearing. Now, the two sides are gearing up for a trial in October.Twitter: 1, Musk: 0.Jim Wilson/The New York TimesTwitter suit takes the fast laneTwitter won its effort to expedite its trial with Elon Musk yesterday, in its lawsuit to force Musk to close his $44 billion acquisition of the company. So many people tried to listen to the proceedings that the dial-in hit capacity — and we hear advisers across Wall Street were huddled around speakerphones.It’s a big win for Twitter. In granting an expedited hearing, Judge Kathaleen McCormick effectively repudiated the notion that the court needed to allow time for a deep dive into whether Twitter had accurately counted the number of bots on its platform. She cited the “cloud of uncertainty” that was hanging over the company the longer the case went undecided as the reason for her decision to fast-track the trial. And in what may be another good sign for Twitter, Judge McCormick said she was unsure that damages would be a sufficient remedy for the social media company, which wants Musk to buy it, not pay damages to walk away.Please see Page 5. A centerpiece of Musk’s claims is that Twitter’s disclosures about the percentage of active users on its platform that are bots are misleading, which would have a “material adverse effect” on the company’s value. But Musk has yet to tell the court what, exactly, in Twitter’s disclosures might be false. This became an issue when Musk’s lawyer at Quinn Emanuel, Andy Rossman, took aim at Page 5 of Twitter’s annual report, which explains its bot count. But Twitter’s lawyer at Wachtell, Bill Savitt, in his rebuttal, noted that Twitter fills that page with hedges and warnings that numbers might be off. (It reads, in part: “Our estimation of false or spam accounts may not accurately represent the actual number of such accounts, and the actual number of false or spam accounts could be higher than we have estimated.”) Of Twitter’s disclosure, Savitt said: “This does not require a recreation of all things known to humanity.” Judge McCormick seemingly agreed.The two sides are gearing up for a trial in October. Over the next weeks, they have to agree on schedules for depositions and discovery. And Musk will have time to prepare for another hearing before Judge McCormick that month: a defense of his whopping Tesla pay package — money that could come in handy if she forces him to buy Twitter.HERE’S WHAT’S HAPPENING Netflix loses fewer subscribers than expected. The streaming service reported yesterday that it lost nearly 1 million subscribers in the second quarter, far fewer than it had forecast. What’s more, Netflix said some of its strategies to stem losses, like an ad-supported option for consumers and a crackdown on password sharing, would boost revenue as soon as next year.A heroic act in an Indiana mall shooting renews the debate over gun access. In the days since a 22-year-old armed bystander killed a gunman two minutes into a shooting spree, the U.S. is again debating the wisdom of easier access to guns. But an analysis of 433 active shooter attacks in the U.S. between 2000 and 2021 found just 22 had ended with a bystander shooting the attacker, according to the Advanced Law Enforcement Rapid Response Training Center at Texas State University.The CHIPS Act passes a procedural hurdle in the Senate with more than 60 votes. The legislation, stalled for more than a year, gives chip manufacturers what they say is help they need to build factories in the U.S. The Senate is expected today to officially vote to pass the bill, which has been slimmed down and still needs to return to the House before it can go to the president.Intelligence agencies say Russia remains a threat in elections. Top F.B.I. and National Security Agency officials warned yesterday that Russia could still seek to meddle or promote disinformation during the 2022 midterm races, even as it wages war in Ukraine. Iran and China also remained potent threats, the officials said.The House moves to protect same-sex marriage from Supreme Court reversal. New legislation, which garnered some Republican support, would recognize same-sex marriages at the federal level, but it faces an uncertain path in the Senate. The move was a direct answer to Justice Clarence Thomas’s concurring opinion in the ruling last month that overturned federal abortion rights.The loans that may haunt Silicon ValleyTech workers have taken out loans in recent years based on the value of their start-up stock. But as the start-up economy has deflated, that may come back to haunt them, writes The Times’s Erin Griffith.Start-up loans stem from the way workers are typically paid. As part of their compensation, most employees at privately held tech companies receive stock options. That’s where loans and other financing options come in. Start-up stock is used as a form of collateral for cash advances. The loans vary in structure, but most providers charge interest and take a percentage of the worker’s stock when the company sells or goes public. Some are structured as contracts or investments.This lending industry has boomed in recent years. Many of the providers were created in the mid-2010s as hot start-ups like Uber and Airbnb put off initial public offerings of stock as long as they could, hitting private market valuations in the tens of billions of dollars.Debate has ignited in Silicon Valley over the proliferation of loans backed by stakes in still-private start-ups. Proponents say the loans are necessary for employees to participate in tech’s wealth-creation engine. But critics say the loans create needless risk in an already-risky industry and are reminiscent of the dot-com era in the early 2000s, when many tech workers were badly burned by similar loans.As the start-up economy deflates, these loans can be risky. While most are structured to be forgiven if a start-up fails, employees could still face a tax bill because the loan forgiveness is treated as taxable income.“No one’s been thinking about what happens when things go down,” said Rick Heitzmann, an investor at FirstMark Capital. “Everyone’s only thinking about the upside.”“The thing I’ve always been taught by my parents is to be the first one in and last one out. But there’s no one else there.”— Alex Hyman, who pictured his internship at a Los Angeles entertainment agency this summer as being one part “Entourage” and one part “The Office,” but found it more like “Home Alone.” It’s a common experience in an age of remote-working bosses.Mooch’s crypto problemAnthony Scaramucci, who is famous for his 11-day stint as former President Donald Trump’s communications director, is facing a mass exodus of investors from his funds.Earlier this week, Bloomberg reported that Scaramucci’s firm SkyBridge Capital had halted withdrawals from one of its smaller funds, Legion Strategies, which contains just over $200 million. But Scaramucci is also struggling to hold onto investors in SkyBridge’s flagship fund, the SkyBridge Multi-Adviser Hedge Fund Portfolios, which managed as much as $2 billion at the end of March. Its investments lost nearly a quarter of their value in the second quarter.Investors in SkyBridge’s flagship fund are seeking to withdraw as much as $890 million, or about half of the money that it held as of the end of last month, Scaramucci told DealBook. But many of those investors will be stuck in the fund for a while. Under its rules, investors in the Multi-Adviser fund are only allowed to withdraw money during certain windows. Those used to occur four times a year, but SkyBridge cut them to twice a year in 2020, after big losses at the beginning of the pandemic. Earlier this month, SkyBridge told investors they would only collectively receive about 16 percent of the money they requested. The letter said it was issuing investors’ notes that would be paid no later than October.Scaramucci’s losses come just over a year after SkyBridge’s pivot into crypto. SkyBridge’s flagship fund, which Scaramucci bought from Citigroup, has long specialized in buying and selling stakes of other hedge funds. For a time, that, along with strong performance in the years after the 2008 financial crisis, made Scaramucci one of the most powerful players in the hedge fund industry.Scaramucci says he is still a long-term believer in crypto. The fund manager says that about 22 percent of his flagship fund remained in crypto and related investments as of the end of last month. “I am not smart enough to time the market,” he told DealBook. “But we’ve done a tremendous amount of research and we think anyone who has will see that blockchain technology is good and is the future.”THE SPEED READ DealsPimco bought $1 billion worth of debt backing Apollo’s acquisition of a payments company at a steep discount. (Bloomberg)Start-ups are racing for share of the market for home chargers of electric vehicles, and several have already been acquired. (Reuters)“Sam Bankman-Fried Turns $2 Trillion Crypto Rout Into Buying Opportunity” (Bloomberg Businessweek)PolicyDan Cox, a Trump loyalist, won the primary to be the Republican candidate for governor of Maryland. (NYT)Novavax’s Covid vaccine was cleared for use in the U.S. (NYT)The Secret Service said texts requested by the Jan. 6 commission were probably lost for good. (NYT)U.K. inflation has exceeded economists’ forecasts, hitting 9.4 percent (FT)President Vladimir Putin signaled that Russia would resume gas deliveries through a key pipeline but at a reduced level. (NYT)Best of the restLeaked salary data at Twitter showed a pay gap of as much as 225 percent for the same role in different countries. (Input)Soaring overdose rates in the pandemic reflect widening racial disparities. (NYT)How the pain of past economic crises is haunting Italy. (NYT)“Fighting a Brutal Regime With the Help of a Video Game” (NYT)We’d like your feedback! Please email thoughts and suggestions to dealbook@nytimes.com. More

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      Sometimes the Earth Makes the Rest of the Universe Look Very Good

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      Gail Collins: Bret, we should talk a bit about the passing of Donald Trump’s first wife, Ivana. Any first thoughts?Bret Stephens: A sad moment. She represented immigrant striving, something her former husband should have learned to appreciate — but didn’t. Did you know her?Gail: No, my interactions with The Donald, as Ivana called him, didn’t begin until around the time of their divorce, when I was covering city government and he was trying to squeeze some deals out of the Council.However, I was working then for New York tabloids and I have very vivid memories of the huge headlines on the front page — we called it “the wood” — when he was wrecking their marriage by cavorting with Marla Maples.Bret: Ah, yes: “‘Best Sex I’ve Ever Had,’” if I recall the New York Post headline correctly. If Edith Wharton were alive today she’d write a novel about the period called “The Age of Relative Innocence.”Gail: I know I don’t need to tell you this, but nobody was encouraging all that over-the-top coverage of his sexual adventures more than the man himself. Legend had it that when he finally got Ivana to step away, he asked his press people whether he could get back on the wood if he dumped Marla, too.Bret: Do you think John Bolton ever says to himself, “I’m the Marla Maples of Donald Trump’s national security advisers”? No wonder the coups Bolton suggests he planned didn’t come off.But speaking of getting back on the wood, does some Machiavellian part of you sorta hope Trump runs for president again?Gail: Well, the totally self-regarding part is certainly rooting for it. If anyone else gets the nomination it’s possible we’d have a modestly normal campaign, which would be good for the country but very bad for my career of making fun of politicians.Bret: If anyone other than Trump wins the G.O.P. nomination, that person will likely be the next president.Gail: That’s certainly an underlying Democratic concern but we have to rise above it. Otherwise it’s like those jerks who try to help their candidate by underwriting the campaigns of the most terrible, hate-mongering person on the other side just to improve their chances.Can’t think of a possible Republican nominee that’d actually be worse, but that’s really your department. Any way we’d look back with nostalgia on the Trump era?Bret: Just imagine how nostalgic we’ll be under President Josh Hawley. Even now, there are plenty of middle-of-the-road voters who are looking back on the Trump years and saying to themselves, “Sure, it was crazy-town in the White House, but inflation was low, the stock market kept rising, gas was affordable, and Russia wasn’t invading its neighbors.” If Joe Biden doesn’t turn his administration’s fortunes around, Democrats are going to be facing a tsunami of voter fury.My advice to the president is to triangulate, triangulate, triangulate. What’s yours?Gail: I dunno — kidnap Joe Manchin, lock him in a tower and make it clear he’ll be forced to watch reruns of “My Mother the Car,” until he comes around on Biden’s priorities?Bret: I think we need an alternative plan, Gail ….Gail: Manchin is really sitting on the Democratic agenda, particularly when it comes to global warming. I know he’s in a very tight political situation in West Virginia, but he’s going to go down in history as the guy who helped make the planet a much worse place for future generations.Bret: As the great Tip O’Neill famously said, “All politics is local.” That sentence pretty much sums up everything Democrats got wrong in Congress over the last 18 months.Gail: As it stands, it looks like Biden’s best hope is to get passage of what some are now calling Build Back Manchin — which so far seems to be some modest reforms on drug pricing.Breaks my heart, but am I right in suspecting it makes you do a happy dance?Bret: Well, I’m glad Manchin stood his ground on spending, because inflation would be even worse today if he hadn’t. Now it’s time for Biden to tack right on policy issues like fracking, border security and crime; go hard on Republicans on guns and abortion; then come up with a plan to help Ukraine defeat the Russian army quickly, before Moscow can use energy to blackmail Western Europe in the dead of winter.Maybe Biden can start by having Bill Clinton stop by the White House to offer some pointers on regaining the trust of the moderate center. Or is there someone else he should be talking to?Gail: Well, um, he should talk with someone who disagrees with you about fracking.One critical problem for the economy is the shortage of workers, and that’s in part because many mothers can’t find any safe or affordable place to leave their kids while they’re working. If Biden wants to change the subject, he should get back to high-quality, affordable early childhood education.I know that’s not the direction you were hoping to travel, but couldn’t resist.Bret: If Biden proposed something modest but attainable in that vein he might score a legislative victory, just as he did with the bipartisan gun bill that Senators Chris Murphy and John Cornyn hashed out last month. We also need more immigrants to make up for the labor shortfalls. How about raising the annual refugee cap to 750,000 from the current 125,000 while doing more to curb illegal immigration? That would combine humanity and good economic sense with political savvy.Gail: Sounds good in theory but I’d want to know a lot more about how that curbing of illegal immigration was going to work. No question that we need an efficient border operation, a goal that has eluded every recent president. But nothing good is accomplished by spreading terror in immigrant communities around the country.Bret: Agree. And by opening the door much wider to legal migration, we also reduce incentives for illegal and sometimes fatal border crossings, which in turn eases the pressure on border security.Gail: Speaking of immigration … there’s an upcoming Republican Senate primary in Arizona where that seems to be a big issue. One of the leading Republican candidates, Blake Masters, once called for “unrestricted immigration” — back when he was a youthful libertarian.Bret: He should have stopped there.Gail: And also a guy who in his youth derided American entry into World War I.Bret: Or even there.Gail: And II.Bret: Oh dear.Gail: He’s certainly a walking reminder of how important it is to remind young people on a daily basis that anything you put on the web can come back to haunt you. But here in 2022 he’s the candidate who said the problem of gun violence was all about “Black people, frankly.” And I hardly need mention he’s been endorsed by Donald Trump.This is for the seat that currently belongs to a Democrat, Mark Kelly. So my two questions are: How would you want Arizona to go if it’s a Masters-Kelly contest, and any other nightmare party primaries you see on the horizon?Bret: I wish Arizona still produced intelligent and independent-minded Republicans in the mold of Barry Goldwater, Jon Kyl, John McCain and Jeff Flake. Now it’s just a freak show. I’ll root for Kelly, but it’s a shame that as a senator the formerly cool astronaut has been such a space cadet.Gail: I love the begrudging way you think.Bret: The other race I’m looking at is the one in Wyoming, where Liz Cheney is hoping enough Democrats and independents will vote in the Republican primary to help her defeat her primary rival. I hope she does. She represents my idea of what political courage looks like.Gail: Agreed, yet also very interested to see how her more liberal Democratic constituents work out this problem: Do you reward an elected official for showing extreme courage while voting against practically everything you’d want Congress to do?Bret: Before we go, Gail, I neglected to mention the one government agency whose budget I would immediately double: NASA. I spent some of last week geeking out over the images that the Webb telescope has been beaming back to earth from its cosmic perch. It’s a good reminder that this country is still capable of doing good and mighty things.Gail: Such a jaw-dropping reminder that as self-obsessed as we tend to get, we’re hardly the center of the universe.Bret: Very true. And you’ve reminded me of a few lines of verse from my all-time favorite poet, Gerard Manley Hopkins, the only writer who has ever tempted me to truly believe in God:Look at the stars! look, look up at the skies!O look at all the fire-folk sitting in the air!The bright boroughs, the circle-citadels there!Down in dim woods the diamond delves! the elves’-eyes!The grey lawns cold where gold, where quickgold lies!The Times is committed to publishing a diversity of letters to the editor. We’d like to hear what you think about this or any of our articles. Here are some tips. And here’s our email: letters@nytimes.com.Follow The New York Times Opinion section on Facebook, Twitter (@NYTopinion) and Instagram. More