Pelosi Pans Gas Tax Holiday

“There has been some interest in the holiday. The pros of it are that it’s good PR — you’re asking about it. The cons are that there’s no guarantee that the reduction in the federal tax would be passed on to the consumer. We have no evidence to think that the oil companies would pass that on to the consumer.”

— Speaker Nancy Pelosi threw cold water on the idea of a national gas tax holiday, which some vulnerable House Democrats have embraced, Politico reports.

Axelrod on Whether Biden Should Risk WH Correspondents Dinner

“Well, there is a question of whether it’s ever appropriate to engage in an exercise in gaudy, celebrity-drenched self-adulation, but that’s a separate question.”

— David Axelrod, quoted by the New York Times, on whether it’s safe for President Biden to attend the White House Correspondents’ Association dinner, given the Covid risks.

This Is a Decisive Moment in Russo-Ukraine War

“For those of us born after World War II, this is the most consequential war of our lifetime. Upon its outcome rests the future of European stability and prosperity. … If Ukraine succeeds in preserving its freedom and territorial integrity, a diminished Russia will be contained; if it fails, the chances of war between NATO and Russia go up, as does the prospect of Russian intervention in other areas on its western and southern peripheries.”

Eliot Cohen

McConnell: GOP Could Still Lose Midterms

“From an atmospheric point of view, it’s a perfect storm of problems for the Democrats. How could you screw this up? It’s actually possible. And we’ve had some experience with that in the past. … In the Senate, if you look at where we have to compete in order to get into a majority, there are places that are competitive in the general election. So you can’t nominate somebody who’s just sort of unacceptable to a broader group of people and win. We had that experience in 2010 and 2012.”

— Senate Minority Leader Mitch McConnell (R-KY) said the political atmosphere is good for Republicans heading into the midterms but warned that the party could bungle its chances if “unacceptable” candidates win their primaries but go on to lose in November, The Hill reports.

A Lot of Pandemic Economy Predictions Were Just Wrong

“As many prominent policy makers reckon uncomfortably with persistent inflation after months of forecasting that the phenomenon would be transitory, I’ve started making a list of other pandemic predictions about the economy that never materialized. There was the eviction tsunami and the ‘she-cession’ and the housing-market crash, and you can’t forget the state- and local-government deficit explosion. In each case, expectations set by economists, policy makers, advocates, and businesses have not borne out.”

The Atlantic

Trump’s Truth Social Just Another Trump Grift

“It’s been an inauspicious start for TRUTH Social, the former president’s new Twitter knock-off, helmed by bovine ex-Congressman Devin Nunes. … Like the other Trump schemes—airlines, steaks, board game, university, magic pills, magazine, etc. etc. etc. … — from the jump TRUTH had all the marks of a media buzz Potemkin Village that allows the first family of grift to cash in, but doesn’t deliver anything of value to the marks who got swept up in the hype.”

Tim Miller