After a year of legal wrangling and a conviction on 34 felony charges, it all adds up to this for President-elect DONALD TRUMP: No jail time, no punishment and no probation. That’s the headline news out of New York this morning, where Trump appeared virtually for a sentencing hearing in his business fraud/hush money case just 10 days before he is due to take the oath of office as president for the second time. Citing the protection of the Oval Office as a “factor that overrides all others,” Justice JUAN MERCHAN said that Trump’s only reprieve from punishment was his looming presidency: “Donald Trump, the ordinary citizen, Donald Trump the criminal defendant, would not be entitled to such considerable protections.” Said Merchan: “This court has determined that the only lawful sentence that permits entry of judgment of conviction without encroachment on the highest office of the land is a sentence of unconditional discharge.” The sentence is rare in felony cases, and the charges Trump faced could have resulted in “up to four years in prison and several thousands of dollars in fines per count,” Ben Johansen reports. That said, an unconditional discharge often bars felons from voting or owning a firearm, depending on the state. Merchan’s ruling wraps up a tumultuous journey for Trump with what amounts to a legal slap on the wrist. More from Erica Orden Trump’s reaction: “The Radical Democrats have lost another pathetic, unAmerican Witch Hunt,” Trump posted on Truth Social after the proceedings wrapped. “That result alone proves that, as all Legal Scholars and Experts have said, THERE IS NO CASE, THERE WAS NEVER A CASE, and this whole Scam fully deserves to be DISMISSED … As the American People have seen, this ‘case’ had no crime, no damages, no proof, no facts, no Law, only a highly conflicted Judge, a star witness who is a disbarred, disgraced, serial perjurer, and criminal Election Interference.” YOUR AFTERNOON Q&A — “Facebook Gave a Key Trump Ally a Preview of Its New Plans,” by Dasha Burns: “ALEX BRUESEWITZ discusses the social media giant’s effort to rebuild its relationship with the right.” ON THE JOBS — In the latest sign of the economy’s strength as Washington prepares for a new administration, the Labor Department released its December jobs report this morning, brimming with sunny statistics that exceeded economists’ expectations. The toplines:
- Employers added a net 256,000 jobs last month, far surpassing the expected roughly 165,000 jobs, per Bloomberg.
- Unemployment fell to 4.1% in December — roughly in line with where it was for most of 2024 — after a 0.1-point increase in November.
- Wages have grown by 3.9% over the past year — a rate that is faster than inflation.
The big question for Trump: Can he keep it going? The good news for Trump: “That positive jobs report will create an even wider avenue for Trump to take credit for an economy that many Wall Street investors and analysts expect to remain solid at least through the early days of his second presidency,” Sam Sutton and Victoria Guida write. The bad news for Trump: “The danger for Trump will be if the economy’s performance falters even slightly from the sky-high hopes that investors have for his administration,” Sam and Victoria write. “There’s already evidence that the post-election euphoria that propelled the stock market to new heights has started to wane. … [H]e may soon have to grapple with similar economic forces that bedeviled [President JOE] BIDEN for much of his administration.” WATCH THIS SPACE — This weekend, different factions of the House GOP will descend on Mar-a-Lago to meet with Trump and “rough out the architecture of their ‘one big, beautiful bill’ to cut taxes, reduce spending and boost border security,” as WSJ’s Richard Rubin puts it. “Among those expected to meet with Trump are members of the far-right House Freedom Caucus demanding spending cuts and blue-state lawmakers focused on raising the $10,000 cap on state and local tax deductions,” Rubin writes. “The idea is to write a bill that satisfies all of the House GOP’s corners while the party has postelection momentum and while Trump has maximum clout.” As always, stay tuned to Playbook for the readout. Happy Friday afternoon. Thanks for reading Playbook PM. Drop me a line at birvine@politico.com.
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