Trump’s 4th Threesome

Trump’s 4th Threesome

Trump's financial disclosure shows he made $2.2 billion while in office — at least $1.4 billion from a crypto scheme that lost 80% of its value for ordinary investors.

Jul 2, 2026 1:16:02 Difficulty: Intermediate Played

TL;DR

Pod Save America hosts Jon Favreau and Dan Pfeiffer dissect Trump's America 250 celebrations — including a "threesome" Medal of Honor gaffe, a planned 800,000-firework spectacle, and $2.2 billion in presidential self-dealing. They break down the MAGA freakout over birthright citizenship and Stephen Miller's push to ban pregnant tourists, analyze progressive primary wins in Colorado, and dig deep into new NYT/Siena Senate polls showing Democrats competitive but facing a brutal map. Key takeaway: persuading voters that Republican senators enabled Trump matters more than attacking Trump himself.

#Trump financial corruption #World Liberty Financial crypto #birthright citizenship Supreme Court #birth tourism #Colorado primaries 2026 #progressive anti-establishment wave #DSA candidates #Kamala Harris 2028 #Senate midterms 2026 #NYT Siena Senate polls #Susan Collins Maine race #Sherrod Brown Ohio #Roy Cooper North Carolina #Graham Plattner #America 250 fireworks #Trump corruption #crypto scheme #America 250 #birthright citizenship #Senate polls #Colorado primaries #DSA #progressive wave #Susan Collins #Sherrod Brown #NYT Siena poll #Stephen Miller #Medal of Honor

Trump kicks off his Fourth of July celebration at the Theodore Roosevelt Library, where he muses about giving his two sons and himself the Medal of Honor — describing doing so as a 'threesome.' Jon and Dan react to Trump's plans for Independence Day, including a Guinness World Records fireworks display, a marathon speech in 107-degree heat, and a plan for '250 pardons for 250 years.' Then, the guys discuss the administration's desire to ban pregnant tourists from entering the country, Tuesday's progressive primary wins in Colorado, and the new New York Times/Siena poll that shows Democrats effectively tied in the states needed to retake the Senate.

Chapter list
  • The episode opens with a paid sponsorship segment for SimpliSafe, framed around the July 4th holiday weekend when homes are particularly vulnerable to break-ins. The hosts pitch SimpliSafe's comprehensive system — sensors, cameras, and 24/7 monitoring — emphasizing a 70% off Fourth of July deal for listeners at simplisafe.com/crooked. Dan Pfeiffer confirms firsthand that installation is simple and drill-free, and the app is reliable. The segment ends with a reminder that monitoring plans start at around $1 a day with no long-term contracts.

  • Two additional sponsor messages fill this segment. The first is for Superhuman Go, an AI chat assistant from the makers of Grammarly that integrates across browser tabs to help users draft content, summarize threads, and prep for meetings without switching apps. The second is for OnDeck, a small business lender offering loans up to $400,000, rated A+ by the Better Business Bureau with strong Trustpilot reviews. Neither segment includes on-air host commentary.

  • Jon Favreau and Dan Pfeiffer exchange holiday greetings and reveal their Fourth of July plans. Jon jokes he's heading to Maine to personally win back the Harris-Collins voters — a nod to the Susan Collins Senate race they'll analyze later. Dan reveals his family is staying home for a 'very patriotic, but chill' Fourth, planning to gather around the TV for Trump's speech. The two banter about Dan's milestone birthday — his kids have taken to calling him 'half century old' — before Jon teases the episode's agenda: Trump's $2 billion disclosure, birthright citizenship, Colorado progressive primaries, and a deep dive into new NYT/Siena Senate polls.

  • Jon Favreau lays out Trump's Fourth of July itinerary: a trip to the Theodore Roosevelt Library for its opening and a fireworks show at Mount Rushmore, followed by a return to DC for what Trump is billing as 'the most spectacular Trump rally of them all,' featuring over 800,000 fireworks in a bid for the Guinness World Record. Trump also announced he intends to give a 'really long speech' in approximately 107-degree heat 'just to show that I can do anything,' pushing fireworks past 11 PM Eastern. The hosts then play a remarkable clip from the Roosevelt Library where Trump delivers a digressive speech invoking the 'racehorse theory' of genetics, praises Teddy's son's bravery, proposes giving Medals of Honor to himself and his two sons — calling it a 'threesome' — and then holds a conversation with an AI hologram of Teddy Roosevelt about the Panama Canal. Jon and Dan react with bemused astonishment, questioning whether Trump understands how AI holograms work and whether he caught the double entendre.

  • Jon poses the question of whether Trump's America 250 spectacle is landing with non-MAGA Americans, and Dan's answer is essentially: no, and for structural reasons. The attention economy is too fragmented, Trump has made the celebration too political, and there's no compulsion for anyone to tune in. Dan reflects on the 1976 bicentennial — an election-year celebration that worked in part because Americans had only three TV channels and the nation's attention was more captive — and notes that people painted fire hydrants red, white, and blue as community acts of participation. A different kind of president, Dan muses, could have used this moment to project genuine national unity, bringing together presidents from both parties onstage. Instead, Trump is making it about himself, which guarantees that half the country will either mock it or ignore it. Jon notes that the real shared national celebration already happened: the United States at the World Cup.

  • Jon pivots to two compounding corruption stories. First, Trump is reportedly weighing a mass pardon of 250 people to mark 250 years — an idea The Atlantic reports has set off a 'frenzy of lobbying and dealmaking.' An adviser says polling supports this, prompting Dan to acidly observe that whoever commissioned that poll was almost certainly a criminal or someone making money off criminals. Dan dismantles the political logic: there is no scenario where a mass pardon of rich or connected people is popular. Then comes the bigger story: Trump's 2025 financial disclosure reveals $2.2 billion in earnings while in office, with $1.4 billion coming from World Liberty Financial, his family's crypto operation. Jon reads from the Times: the coin has collapsed to less than $0.06, an over-80% drop from its peak. Dan argues this isn't ordinary investing — Trump weaponized supporter loyalty, got them to buy a bogus coin, then sold a chunk of the company to an Emirati fund, possibly in exchange for America's most valuable technology. The Wall Street Journal editorial board, Jon notes, compared Trump's foreign dealings unfavorably to Hunter Biden's. Dan concludes the corruption is already priced into Trump's 37% approval rating, but the point is to get that stink onto Republican senators.

  • Dan Pfeiffer endorses Quince's European linen shirts and pants as summer essentials, noting personal ownership of Quince sweats, a bag, sheets, and sweaters, with prices 50 to 80% below comparable brands. Jon reads for AG1, a daily health drink combining a multivitamin, pre- and probiotics, superfoods, and antioxidants, describing how he incorporates it into his morning smoothie. Both segments direct listeners to brand URLs with Crooked discount codes.

  • The Supreme Court struck down Trump's executive order ending birthright citizenship under the 14th Amendment, but the reaction from Trump allies was anything but conciliatory. Jon reads from The Daily Wire's Matt Walsh, who declared America is 'committing suicide,' and from The Federalist's Sean Davis, who floated banning all pregnant foreign women from entering the country and requiring sterilization of foreign visitors. Jon reports that Stephen Miller has said he's 'looking into' these ideas, describing the situation as 'national self-obliteration.' The hosts dissect the political logic: with Trump underwater on every issue except border security, MAGA is trying to drag the conversation back to immigration. But the proposed remedy — targeting pregnant tourists — is grotesque and politically moronic. Jon cites even the Center for Immigration Studies, a far-right group, which puts birth tourism at about 20,000 cases per year out of 3.61 million total US births, well under 1%. Dan draws a direct historical parallel to Reagan's welfare queen myth: take the rarest, most outlandish example and use it to dismantle an entire constitutional right. Jon then walks through the Roberts majority's argument: once you adopt the dissent's logic about 'allegiance,' you could strip citizenship from children of legal permanent residents — and ultimately give Trump and Miller the power to decide who is American.

  • Tuesday's Colorado primaries delivered a clean sweep for progressives at every level. In the 1st District, 29-year-old DSA candidate Milot Kiros crushed 15-term incumbent Diana DeGette by about 10 points — a result the hosts find entirely legible given the district's Democratic dominance and the anti-establishment wave washing through the party. In the 8th District, progressive state rep Manny Routenell beat a moderate Democrat by 28 points and will now face vulnerable Republican Gabe Evans. And in the governor's race, Attorney General Phil Weiser beat incumbent senator Michael Bennet by 12 points, running on his anti-Trump litigation record. Dan and Jon resist the easy 'progressives vs. moderates' framing, arguing the real driver is voter fury at an establishment perceived as having failed to deliver for working people or adequately fight Trump. Dan notes that the candidates losing aren't necessarily moderates — DeGette was in the Congressional Progressive Caucus — but they were long-established incumbents. Gaza also looms large: Jon argues it functions less as a discrete issue and more as a character test about whether a politician will name what voters are seeing with their own eyes. Bannon, Jon reports, has publicly warned Republicans not to dismiss this wave, comparing it to the early Tea Party — sophisticated anti-establishment campaigning that goes after the opposing party's establishment rather than the president.

  • Axios reports that Kamala Harris has been quietly reaching out to progressive leaders — including Zohran Mamdani, AOC, and figures from the Uncommitted Movement — as she weighs a 2028 presidential run. Dan says that six months ago he would have bet against her running, but the accumulating signals suggest she's serious. He argues there is no plausible path to the 2028 nomination that doesn't involve a massive pivot on Gaza and Israel policy, and the outreach to progressive leaders suggests she understands that. But Jon issues a pointed warning: any pivot that looks calculated or focus-grouped will fail. Harris needs to demonstrate genuine, visceral anger — the kind that aides say she felt privately during the 2024 campaign but was never willing to express publicly. She needs to give a Palestinian speaker a slot at the convention, something that seemed crazy not to do in hindsight. She also needs to own personal responsibility for the decisions made, not hide behind the 'I was vice president' defense. More broadly, Jon questions whether Harris has a clear answer to the fundamental question: why does she want to be president? The hosts close by noting that, if historical timing holds, the first Democratic primary debate of 2028 is only about a year away — and the opening skirmishes of what promises to be a brutal intraparty war have already begun.

  • Dan Pfeiffer praises Blinds.com's automatic window shades, installed in the Crooked Media office to block afternoon sun glare, and the company's easy professional installation service. Jon reads for Sleep Me's ChiliPad 2.0, a water-cooled mattress topper that controls bed temperature from 55 to 115 degrees to improve sleep quality. Jon notes the device can resolve thermostat wars between partners by allowing different temperatures on each side of the bed. Both segments include listener discount codes.

  • Jon walks through the new NYT/Siena Senate polling: Mary Peltola down 2 in Alaska, Sherrod Brown down 3 in Ohio, Josh Turek down 2 in Iowa, while Graham Plattner leads by 2 in Maine and James Talarico is tied in Texas. Only Roy Cooper in North Carolina shows a clear lead, up 7. Dan calls this a 'painful reality check': these are very Republican states, Trump won all four by at least 11 points, and Republicans still lead the generic ballot by 6+ points even as Trump's approval in those states sits in the low-to-mid 40s. Jon's structural diagnosis is pointed: Democrats have done a good job making people in red states think Trump is a bad president, but have not made people in those states think the Republican senators are the reason Trump has been able to hurt them. The generic ballot — who do you want to control Congress — remains strongly Republican in states where Trump's approval is weak, which means voters are separating their dissatisfaction with Trump from their partisan preference for Senate control. That gap is the political problem Democrats must solve in the next four months.

  • Dan zeros in on why Ohio and Iowa are so structurally difficult for Democrats. The voters leaving Trump are disproportionately younger and Latino — groups that are underrepresented in Ohio and Iowa, which are older and whiter than the national average. As Nate Cohn has noted in his poll analysis, many of the voters who have abandoned Trump don't vote in midterms — and Ohio in particular has a highly organized, high-turnout older white non-college electorate that shows up reliably. Jon admits he had hoped a midterm electorate would favor Democrats more than these polls suggest. Dan also points out that Ohio has been registered and organized within an inch of its life for decades — unlike North Carolina, Florida, or Texas, where large unregistered Democratic-leaning populations once offered a path to growth. Sherrod Brown's data, Dan notes, shows him getting almost exactly the same white non-college vote share he got in 2024 against a Trump wave. He simply cannot grow his coalition without either winning some Husted voters or convincing some Brown-to-Moreno switchers to come back — neither of which is easy.

  • Jon and Dan briefly pivot to the two states where Democrats have the most structural tailwinds. In North Carolina, Roy Cooper is up 7 with a D+6 generic ballot — a state Trump only narrowly won in 2024 — while running a quiet, high-name-ID campaign that benefits from not attracting national attention or MAGA counter-mobilization. Dan observes that Cooper is actually only barely outrunning the generic ballot, meaning the environment itself is carrying him. In Texas, James Talarico is tied with Ken Paxton despite Texas being a state Trump won by 13 points, partly because Paxton's many personal and legal scandals are dragging down the Republican ticket — a dynamic that mirrors Maine, where candidate quality is affecting results in both directions. Jon argues that North Carolina and Texas are not just this cycle's opportunities but the long-term future for Democratic Senate coalitions, because unlike Ohio and Iowa, they have large and growing populations of young and Latino voters whose political participation is still being unlocked.

  • Jon reads a segment for Wild Alaskan Company, offering individually portioned, vacuum-sealed wild-caught Alaskan seafood delivered to subscribers' doors, with a money-back guarantee and $35 off the first order. A second segment follows for ThirdLove, a bra company emphasizing comfort, proper fit, and a range of 60+ sizes including AA through H and half cups, with $15 off the first purchase using code PODCAST15.

  • Jon opens with a note on Alaska — Nate Cohn has flagged possible methodological issues with the Alaska sample that could make the numbers look worse for Peltola than they are. Then the conversation turns to what is now the centerpiece of the Democratic Senate strategy: Maine. The new Majority Forward ad attacks Susan Collins for opposing a ban on congressional stock trading, framing it as an insider trading enrichment scheme. Dan is skeptical of the strategy: two-thirds of Maine voters think Collins has good character and morals, making it very hard to make a corruption argument land. Collins has always overperformed — up 23 in 2008 when Obama won Maine by 17, up 9 in 2020 when Biden won Maine by 9 — and she's still popular. What the NYT poll does show is that 57% of independents and a majority of all Maine voters think Collins would be too supportive of Trump. That's the door. Dan argues every ad, every dollar, every message should be a variation of: Collins equals Trump. Plattner, for his part, is running roughly one point ahead of where Sarah Gideon was with white working-class voters, and he's doing considerably better with young voters and men — which is why he's leading where Gideon lost by 9. But he's underperforming the generic ballot by about 9 points, partially because some of the revelations about him have suppressed enthusiasm, and partially because Collins still runs as a genuine exception for many Maine voters. The hosts close noting that both Collins and Plattner are more popular than Democratic Governor Janet Mills, and that the Maine economy being rated negatively by more than 80% of voters would have made Mills a harder candidate than Plattner.

DSA
Democratic Socialists of America, a left-wing political organization whose endorsed candidates have been winning progressive primary races against established Democrats.
Generic ballot
A poll question asking voters which party they prefer to control Congress, without naming specific candidates; used as a baseline measure of partisan environment.
Birthright citizenship
The legal right to citizenship granted to anyone born on US soil, guaranteed by the 14th Amendment to the Constitution.
Birth tourism
The practice of traveling to the United States specifically to give birth so the child receives US citizenship; estimated at under 20,000 cases per year.
World Liberty Financial
The Trump family's cryptocurrency venture whose token has dropped over 80% from its peak while generating billions in proceeds for the Trump organization.
Ponzi scheme
A fraudulent investment operation that pays returns to earlier investors using money from newer investors rather than legitimate profits; used by the hosts to characterize Trump's crypto operation.
Pull the rug
Slang in crypto markets for when creators of a token sell off their holdings and abandon the project, causing the token's value to collapse and harming retail investors.
Permission structure
A political communications strategy that gives voters who previously supported a candidate a justification to switch their vote without feeling inconsistent.
Overperformance
When a candidate wins by a larger margin than the generic partisan environment in their district or state would predict; Susan Collins is a noted example in Maine.
Rug pull
In crypto markets, when project founders suddenly withdraw all liquidity or sell their holdings, leaving investors with worthless tokens.
Domicile
Legal term for the place where a person has their primary residence and legal allegiance; used in the Supreme Court birthright citizenship dissent to argue children of foreign nationals shouldn't automatically be US citizens.
AIPAC
American Israel Public Affairs Committee, a pro-Israel lobbying group that has spent heavily in Democratic primaries to support candidates seen as friendly to Israel.
Frontline race
A highly competitive congressional race identified by party committees as a top priority for resources, typically in districts where the outcome could determine which party controls the chamber.
Frenetic
Characterized by fast, energetic, often disorganized activity; used here to describe the international lobbying surrounding Trump's potential mass pardon.
Overperformance (electoral)
A candidate's vote share substantially exceeding what their party's baseline or the top of the ticket achieved in the same geography in the same election.
Salami-slicing
Gradually removing small pieces of something over time; used metaphorically by Dan Pfeiffer to describe how Democratic primary candidates must find thin policy differences to debate each other.
Lame duck
An officeholder whose term is ending and who therefore has reduced political influence; used by Jon Favreau to argue Trump is not the target Democrats need to beat in the midterms.
Grift
Corrupt or fraudulent activity carried out for financial gain; used by the hosts to describe Trump's cryptocurrency scheme and broader monetization of the presidency.

Chapter 4 · 04:30

Trump's America 250 Plans: Fireworks, Heat Speech, and Teddy Roosevelt

Jon Favreau lays out Trump's Fourth of July itinerary: a trip to the Theodore Roosevelt Library for its opening and a fireworks show at Mount Rushmore, followed by a return to DC for what Trump is billing as 'the most spectacular Trump rally of them all,' featuring over 800,000 fireworks in a bid for the Guinness World Record. Trump also announced he intends to give a 'really long speech' in approximately 107-degree heat 'just to show that I can do anything,' pushing fireworks past 11 PM Eastern. The hosts then play a remarkable clip from the Roosevelt Library where Trump delivers a digressive speech invoking the 'racehorse theory' of genetics, praises Teddy's son's bravery, proposes giving Medals of Honor to himself and his two sons — calling it a 'threesome' — and then holds a conversation with an AI hologram of Teddy Roosevelt about the Panama Canal. Jon and Dan react with bemused astonishment, questioning whether Trump understands how AI holograms work and whether he caught the double entendre.

Claims made here

OpenAI offered the US government a 5% stake in the company.

Dan Pfeiffer no source cited

News
Data point 800,000

Trump’s 4th Threesome · Jul 2, 2026

Trump's America 250 celebration in Washington DC is planned to include over 800,000 fireworks in an attempt to set a Guinness World Record.

News
Trump's 'Threesome' Medal of Honor Gaffe

Trump’s 4th Threesome · Jul 2, 2026 News

Trump, speaking at the Theodore Roosevelt Library opening, proposed giving Medals of Honor to himself and his two sons — and called it a 'threesome.' The hosts question whether Trump even understood how an AI hologram of Teddy Roosevelt worked, let alone what he was saying.

Chapter 6 · 13:40

250 Pardons and Trump's $2.2 Billion in Presidential Earnings

Jon pivots to two compounding corruption stories. First, Trump is reportedly weighing a mass pardon of 250 people to mark 250 years — an idea The Atlantic reports has set off a 'frenzy of lobbying and dealmaking.' An adviser says polling supports this, prompting Dan to acidly observe that whoever commissioned that poll was almost certainly a criminal or someone making money off criminals. Dan dismantles the political logic: there is no scenario where a mass pardon of rich or connected people is popular. Then comes the bigger story: Trump's 2025 financial disclosure reveals $2.2 billion in earnings while in office, with $1.4 billion coming from World Liberty Financial, his family's crypto operation. Jon reads from the Times: the coin has collapsed to less than $0.06, an over-80% drop from its peak. Dan argues this isn't ordinary investing — Trump weaponized supporter loyalty, got them to buy a bogus coin, then sold a chunk of the company to an Emirati fund, possibly in exchange for America's most valuable technology. The Wall Street Journal editorial board, Jon notes, compared Trump's foreign dealings unfavorably to Hunter Biden's. Dan concludes the corruption is already priced into Trump's 37% approval rating, but the point is to get that stink onto Republican senators.

Claims made here

Trump's 2025 financial disclosure shows he made at least $2.2 billion while in office, with at least $1.4 billion from his family's cryptocurrency business.

Jon Favreau Trump 2025 financial disclosure

World Liberty Financial's cryptocurrency coin has dropped to less than $0.06, representing a more than 80% decline from its peak.

Jon Favreau The New York Times

Trump's national approval rating is at 37%.

Dan Pfeiffer no source cited

Business
Data point $2.2B

Trump’s 4th Threesome · Jul 2, 2026 Business

Trump's 2025 financial disclosure shows at least $2.2 billion earned while in office, with $1.4 billion from his family's crypto operation. The World Liberty Financial coin has since dropped more than 80% from its peak, wiping out ordinary investors while Trump cashed out.

News
Data point $2.2B

Trump’s 4th Threesome · Jul 2, 2026

Trump's 2025 financial disclosure revealed he made at least $2.2 billion last year while serving as president.

Business
Data point $1.4B

Trump’s 4th Threesome · Jul 2, 2026

At least $1.4 billion of Trump's in-office earnings came from his family's cryptocurrency business, described by the hosts as a Ponzi scheme.

Business
The Crypto Ponzi Scheme Against His Own Fans

Trump’s 4th Threesome · Jul 2, 2026 Business

Trump didn't just invest well — he weaponized his supporters' trust, got them to buy a bogus crypto coin, then pulled the rug. He sold a chunk of the company to an Emirati fund, possibly in exchange for selling America's top technology, while his fans absorbed the losses.

Business
Data point >80%

Trump’s 4th Threesome · Jul 2, 2026

World Liberty Financial's cryptocurrency coin fell to less than $0.06, an over 80% drop from its peak, generating massive losses for ordinary investors.

News
Data point 37%

Trump’s 4th Threesome · Jul 2, 2026

Trump's national approval rating has fallen to 37%, reflecting the political cost of corruption, affordability concerns, and policy failures.

Chapter 7 · 21:20

Sponsor Reads: Quince, AG1

Dan Pfeiffer endorses Quince's European linen shirts and pants as summer essentials, noting personal ownership of Quince sweats, a bag, sheets, and sweaters, with prices 50 to 80% below comparable brands. Jon reads for AG1, a daily health drink combining a multivitamin, pre- and probiotics, superfoods, and antioxidants, describing how he incorporates it into his morning smoothie. Both segments direct listeners to brand URLs with Crooked discount codes.

Government
Stephen Miller Wants to Ban Pregnant Tourists

Trump’s 4th Threesome · Jul 2, 2026 Government

After the Supreme Court upheld birthright citizenship, MAGA allies proposed denying entry to all pregnant women and requiring sterilization of foreign visitors. Stephen Miller said he was 'looking into' these ideas. Birth tourism accounts for well under 1% of US births.

Chapter 8 · 23:37

Birthright Citizenship Ruling and the MAGA Freakout

The Supreme Court struck down Trump's executive order ending birthright citizenship under the 14th Amendment, but the reaction from Trump allies was anything but conciliatory. Jon reads from The Daily Wire's Matt Walsh, who declared America is 'committing suicide,' and from The Federalist's Sean Davis, who floated banning all pregnant foreign women from entering the country and requiring sterilization of foreign visitors. Jon reports that Stephen Miller has said he's 'looking into' these ideas, describing the situation as 'national self-obliteration.' The hosts dissect the political logic: with Trump underwater on every issue except border security, MAGA is trying to drag the conversation back to immigration. But the proposed remedy — targeting pregnant tourists — is grotesque and politically moronic. Jon cites even the Center for Immigration Studies, a far-right group, which puts birth tourism at about 20,000 cases per year out of 3.61 million total US births, well under 1%. Dan draws a direct historical parallel to Reagan's welfare queen myth: take the rarest, most outlandish example and use it to dismantle an entire constitutional right. Jon then walks through the Roberts majority's argument: once you adopt the dissent's logic about 'allegiance,' you could strip citizenship from children of legal permanent residents — and ultimately give Trump and Miller the power to decide who is American.

Claims made here

The Center for Immigration Studies estimates birth tourism at approximately 20,000 cases per year out of 3.61 million US births.

Jon Favreau Center for Immigration Studies

Government
Data point <1%

Trump’s 4th Threesome · Jul 2, 2026 Government

Even the Center for Immigration Studies — a far-right group — puts birth tourism at 20,000 cases a year. Out of 3.61 million US births, that's under 1%. The hosts compare the fearmongering to Reagan's welfare queen myth: take the rarest example and use it to dismantle an entire constitutional right.

News
Data point 20,000

Trump’s 4th Threesome · Jul 2, 2026

Even the far-right Center for Immigration Studies estimates birth tourism at only about 20,000 cases per year out of 3.61 million total US births.

Government
Data point <1%

Trump’s 4th Threesome · Jul 2, 2026

Birth tourism accounts for well under 1% of US births annually, undermining the Republican argument for restricting pregnant foreign visitors.

Chapter 9 · 30:20

Colorado Progressive Primaries: Reading the Anti-Establishment Wave

Tuesday's Colorado primaries delivered a clean sweep for progressives at every level. In the 1st District, 29-year-old DSA candidate Milot Kiros crushed 15-term incumbent Diana DeGette by about 10 points — a result the hosts find entirely legible given the district's Democratic dominance and the anti-establishment wave washing through the party. In the 8th District, progressive state rep Manny Routenell beat a moderate Democrat by 28 points and will now face vulnerable Republican Gabe Evans. And in the governor's race, Attorney General Phil Weiser beat incumbent senator Michael Bennet by 12 points, running on his anti-Trump litigation record. Dan and Jon resist the easy 'progressives vs. moderates' framing, arguing the real driver is voter fury at an establishment perceived as having failed to deliver for working people or adequately fight Trump. Dan notes that the candidates losing aren't necessarily moderates — DeGette was in the Congressional Progressive Caucus — but they were long-established incumbents. Gaza also looms large: Jon argues it functions less as a discrete issue and more as a character test about whether a politician will name what voters are seeing with their own eyes. Bannon, Jon reports, has publicly warned Republicans not to dismiss this wave, comparing it to the early Tea Party — sophisticated anti-establishment campaigning that goes after the opposing party's establishment rather than the president.

Claims made here

Milot Kiros, a 29-year-old DSA candidate, defeated 15-term Democratic incumbent Diana DeGette by approximately 10 points in Colorado's 1st Congressional District.

Jon Favreau no source cited

Phil Weiser defeated Senator Michael Bennet by about 12 points in the Colorado Democratic gubernatorial primary.

Jon Favreau no source cited

Harris won Colorado's 1st Congressional District by more than 50 points in 2024.

Dan Pfeiffer no source cited

News
Colorado Progressive Wins: Reading the Anti-Establishment Wave

Trump’s 4th Threesome · Jul 2, 2026 News

29-year-old DSA candidate Milot Kiros crushed 15-term Democratic incumbent Diana DeGette by 10 points in Denver. Dan Pfeiffer argues the real driver isn't ideology but a rage at the Democratic establishment's failure to deliver — and at Gaza. Not being a fighter has become a losing position.

News
Data point 10 pts

Trump’s 4th Threesome · Jul 2, 2026

29-year-old DSA candidate Milot Kiros defeated 15-term incumbent Diana DeGette by about 10 points in Colorado's 1st Congressional District primary.

Chapter 10 · 40:00

Kamala Harris's Potential 2028 Run and the Authenticity Challenge

Axios reports that Kamala Harris has been quietly reaching out to progressive leaders — including Zohran Mamdani, AOC, and figures from the Uncommitted Movement — as she weighs a 2028 presidential run. Dan says that six months ago he would have bet against her running, but the accumulating signals suggest she's serious. He argues there is no plausible path to the 2028 nomination that doesn't involve a massive pivot on Gaza and Israel policy, and the outreach to progressive leaders suggests she understands that. But Jon issues a pointed warning: any pivot that looks calculated or focus-grouped will fail. Harris needs to demonstrate genuine, visceral anger — the kind that aides say she felt privately during the 2024 campaign but was never willing to express publicly. She needs to give a Palestinian speaker a slot at the convention, something that seemed crazy not to do in hindsight. She also needs to own personal responsibility for the decisions made, not hide behind the 'I was vice president' defense. More broadly, Jon questions whether Harris has a clear answer to the fundamental question: why does she want to be president? The hosts close by noting that, if historical timing holds, the first Democratic primary debate of 2028 is only about a year away — and the opening skirmishes of what promises to be a brutal intraparty war have already begun.

News
Bannon Sees What Democrats Don't

Trump’s 4th Threesome · Jul 2, 2026 News

Steve Bannon publicly warned that Republicans mock progressive anti-establishment candidates at their peril, comparing them to the Tea Party. He sees DSA candidates going after the Democratic establishment the same way Breitbart went after the Republican establishment — and he finds it sophisticated.

News
Kamala Harris and the 2028 Authenticity Problem

Trump’s 4th Threesome · Jul 2, 2026 News

Reports indicate Kamala Harris is quietly reaching out to Zohran Mamdani, AOC, and the Uncommitted Movement ahead of a possible 2028 run. Jon Favreau's warning: she cannot focus-group her way to the nomination. She needs genuine, visceral reckoning on Gaza — not a calculated pivot.

Chapter 12 · 51:25

NYT/Siena Senate Polls: Big Picture and the Generic Ballot Problem

Jon walks through the new NYT/Siena Senate polling: Mary Peltola down 2 in Alaska, Sherrod Brown down 3 in Ohio, Josh Turek down 2 in Iowa, while Graham Plattner leads by 2 in Maine and James Talarico is tied in Texas. Only Roy Cooper in North Carolina shows a clear lead, up 7. Dan calls this a 'painful reality check': these are very Republican states, Trump won all four by at least 11 points, and Republicans still lead the generic ballot by 6+ points even as Trump's approval in those states sits in the low-to-mid 40s. Jon's structural diagnosis is pointed: Democrats have done a good job making people in red states think Trump is a bad president, but have not made people in those states think the Republican senators are the reason Trump has been able to hurt them. The generic ballot — who do you want to control Congress — remains strongly Republican in states where Trump's approval is weak, which means voters are separating their dissatisfaction with Trump from their partisan preference for Senate control. That gap is the political problem Democrats must solve in the next four months.

Claims made here

Roy Cooper leads Republican Michael Whatley by 7 points in North Carolina, and the generic congressional ballot in North Carolina is D+6.

Jon Favreau New York Times/Siena poll

In the swing Senate states, 53% of voters say the Democratic Party is too far to the left, 8% say too far to the right, and 35% say neither.

Jon Favreau New York Times/Siena poll

Republicans lead the generic congressional ballot in all key Senate battleground states by at least 6 points.

Dan Pfeiffer New York Times/Siena poll

Trump won the four key red Senate states (Alaska, Iowa, Ohio, Texas) by at least 11 points each.

Dan Pfeiffer no source cited

News
Data point R+6

Trump’s 4th Threesome · Jul 2, 2026 News

New NYT/Siena polls show Democrats effectively tied in Alaska, Ohio, Iowa, and Texas Senate races, while Republicans lead the generic ballot by at least 6 points in those states. Trump's approval is bad but not bad enough in the right states — and voters still don't blame Republican senators.

News
Data point 7 pts

Trump’s 4th Threesome · Jul 2, 2026

Democrat Roy Cooper leads Republican Michael Whatley by 7 points in North Carolina, the clearest Senate leader among Democrats in any competitive race.

News
Data point 53%

Trump’s 4th Threesome · Jul 2, 2026

In the red states with key Senate races, 53% of voters say the Democratic Party is too far to the left, versus only 8% who say too far to the right.

News
Data point D+6

Trump’s 4th Threesome · Jul 2, 2026

The generic congressional ballot in North Carolina is Democrat plus 6, reflecting the state's shift toward Democrats and explaining Roy Cooper's strong position.

Chapter 13 · 57:30

Ohio and Iowa: The White Non-College Voter Problem

Dan zeros in on why Ohio and Iowa are so structurally difficult for Democrats. The voters leaving Trump are disproportionately younger and Latino — groups that are underrepresented in Ohio and Iowa, which are older and whiter than the national average. As Nate Cohn has noted in his poll analysis, many of the voters who have abandoned Trump don't vote in midterms — and Ohio in particular has a highly organized, high-turnout older white non-college electorate that shows up reliably. Jon admits he had hoped a midterm electorate would favor Democrats more than these polls suggest. Dan also points out that Ohio has been registered and organized within an inch of its life for decades — unlike North Carolina, Florida, or Texas, where large unregistered Democratic-leaning populations once offered a path to growth. Sherrod Brown's data, Dan notes, shows him getting almost exactly the same white non-college vote share he got in 2024 against a Trump wave. He simply cannot grow his coalition without either winning some Husted voters or convincing some Brown-to-Moreno switchers to come back — neither of which is easy.

News
North Carolina and Texas: The Future of the Democratic Map

Trump’s 4th Threesome · Jul 2, 2026 News

Roy Cooper is up 7 in North Carolina with a D+6 generic ballot — and James Talarico is tied with Ken Paxton in Texas. Both states have growing diverse and young populations that don't exist in Ohio and Iowa, which is why Jon Favreau says Democrats must eventually win these states.

Chapter 14 · 1:01:30

North Carolina, Texas, and the Future Democratic Map

Jon and Dan briefly pivot to the two states where Democrats have the most structural tailwinds. In North Carolina, Roy Cooper is up 7 with a D+6 generic ballot — a state Trump only narrowly won in 2024 — while running a quiet, high-name-ID campaign that benefits from not attracting national attention or MAGA counter-mobilization. Dan observes that Cooper is actually only barely outrunning the generic ballot, meaning the environment itself is carrying him. In Texas, James Talarico is tied with Ken Paxton despite Texas being a state Trump won by 13 points, partly because Paxton's many personal and legal scandals are dragging down the Republican ticket — a dynamic that mirrors Maine, where candidate quality is affecting results in both directions. Jon argues that North Carolina and Texas are not just this cycle's opportunities but the long-term future for Democratic Senate coalitions, because unlike Ohio and Iowa, they have large and growing populations of young and Latino voters whose political participation is still being unlocked.

Claims made here

Sherrod Brown has a +8 favorable rating in Ohio but is down 3 points in the Senate race against Jon Husted.

Dan Pfeiffer New York Times/Siena poll

News
Data point +8 fav

Trump’s 4th Threesome · Jul 2, 2026 News

Sherrod Brown has a +8 favorable rating in a state Trump won by 11. Yet he's down 3 in the polls — and getting almost exactly the same share of white non-college voters he got in 2024. The voters who are leaving Trump simply don't vote in midterms in Ohio.

News
Data point +8

Trump’s 4th Threesome · Jul 2, 2026

Sherrod Brown has a +8 favorable rating in Ohio, a Trump state that Trump won by 11 points, yet he is still down 3 points in the Senate race.

Chapter 16 · 1:05:36

Alaska and the Maine Deep-Dive: Polling, Strategy, and Attack Ads

Jon opens with a note on Alaska — Nate Cohn has flagged possible methodological issues with the Alaska sample that could make the numbers look worse for Peltola than they are. Then the conversation turns to what is now the centerpiece of the Democratic Senate strategy: Maine. The new Majority Forward ad attacks Susan Collins for opposing a ban on congressional stock trading, framing it as an insider trading enrichment scheme. Dan is skeptical of the strategy: two-thirds of Maine voters think Collins has good character and morals, making it very hard to make a corruption argument land. Collins has always overperformed — up 23 in 2008 when Obama won Maine by 17, up 9 in 2020 when Biden won Maine by 9 — and she's still popular. What the NYT poll does show is that 57% of independents and a majority of all Maine voters think Collins would be too supportive of Trump. That's the door. Dan argues every ad, every dollar, every message should be a variation of: Collins equals Trump. Plattner, for his part, is running roughly one point ahead of where Sarah Gideon was with white working-class voters, and he's doing considerably better with young voters and men — which is why he's leading where Gideon lost by 9. But he's underperforming the generic ballot by about 9 points, partially because some of the revelations about him have suppressed enthusiasm, and partially because Collins still runs as a genuine exception for many Maine voters. The hosts close noting that both Collins and Plattner are more popular than Democratic Governor Janet Mills, and that the Maine economy being rated negatively by more than 80% of voters would have made Mills a harder candidate than Plattner.

Claims made here

Susan Collins won Maine by 9 points in 2020 when Biden was also winning Maine by nearly 9 points — an ~18-point overperformance.

Dan Pfeiffer no source cited

In 2008, Susan Collins won Maine by 23 points while Obama was winning Maine by 17 points — a 40-point overperformance.

Dan Pfeiffer no source cited

Two-thirds of Maine voters think Susan Collins has good character and morals.

Dan Pfeiffer New York Times/Siena poll

Nearly 9 in 10 Maine voters have heard about Graham Plattner's controversies, compared to only 38% of Texas voters who have heard about Ken Paxton's problems.

Jon Favreau New York Times/Siena poll

The Texas Republican Senate primary was the most expensive primary in history, with John Cornyn and his super PACs spending ungodly amounts telling voters about Ken Paxton's corruption.

Dan Pfeiffer no source cited

In Maine, more than 8 in 10 voters think the Maine economy is bad.

Dan Pfeiffer New York Times/Siena poll

News
Maine: The Right and Wrong Way to Attack Susan Collins

Trump’s 4th Threesome · Jul 2, 2026 News

The Majority Forward PAC is running an insider trading ad against Collins — but two-thirds of Maine voters think she has good character and morals. The smarter play: tie every Collins vote to Trump and the threat of another Trump Supreme Court justice. Don't overthink it.

News
Data point 9 pts

Trump’s 4th Threesome · Jul 2, 2026

Susan Collins won Maine by 9 points in 2020 even as Biden was winning Maine by nearly 9 points — an 18-point overperformance.

News
Data point 23 pts

Trump’s 4th Threesome · Jul 2, 2026

In 2008, Susan Collins won Maine by 23 points when Obama won Maine by 17 — a 40-point overperformance illustrating her extraordinary home-state durability.

News
Data point ~80%

Trump’s 4th Threesome · Jul 2, 2026

Nearly 9 in 10 Maine voters have heard about the revelations surrounding Democratic Senate candidate Graham Plattner, a stark contrast to Texas where only 38% heard about Paxton's problems.

No indexed bits in this chapter.

Show stoppers

Business
The Crypto Ponzi Scheme Against His Own Fans

Trump’s 4th Threesome · Jul 2, 2026 Business

Trump didn't just invest well — he weaponized his supporters' trust, got them to buy a bogus crypto coin, then pulled the rug. He sold a chunk of the company to an Emirati fund, possibly in exchange for selling America's top technology, while his fans absorbed the losses.

News
Data point R+6

Trump’s 4th Threesome · Jul 2, 2026 News

New NYT/Siena polls show Democrats effectively tied in Alaska, Ohio, Iowa, and Texas Senate races, while Republicans lead the generic ballot by at least 6 points in those states. Trump's approval is bad but not bad enough in the right states — and voters still don't blame Republican senators.

Snapshots ()

Key Quotes ()

This episode

Cast

Stats

Episode stats

Insight Overview

insights
chapters

Insight distribution

Sub-Categories

Speaker breakdown

Talk Time

This episode

Claims & Sources

11 / 20 cited (55%)

Factual claims made this episode, and whether a source was named.

Trump's 2025 financial disclosure shows he made at least $2.2 billion while in office, with at least $1.4 billion from his family's cryptocurrency business.

Jon Favreau Trump 2025 financial disclosure

World Liberty Financial's cryptocurrency coin has dropped to less than $0.06, representing a more than 80% decline from its peak.

Jon Favreau The New York Times

The Center for Immigration Studies estimates birth tourism at approximately 20,000 cases per year out of 3.61 million US births.

Jon Favreau Center for Immigration Studies

Trump's national approval rating is at 37%.

Dan Pfeiffer no source cited

In the swing Senate states, 53% of voters say the Democratic Party is too far to the left, 8% say too far to the right, and 35% say neither.

Jon Favreau New York Times/Siena poll

Republicans lead the generic congressional ballot in all key Senate battleground states by at least 6 points.

Dan Pfeiffer New York Times/Siena poll

Roy Cooper leads Republican Michael Whatley by 7 points in North Carolina, and the generic congressional ballot in North Carolina is D+6.

Jon Favreau New York Times/Siena poll

Susan Collins won Maine by 9 points in 2020 when Biden was also winning Maine by nearly 9 points — an ~18-point overperformance.

Dan Pfeiffer no source cited

In 2008, Susan Collins won Maine by 23 points while Obama was winning Maine by 17 points — a 40-point overperformance.

Dan Pfeiffer no source cited

Nearly 9 in 10 Maine voters have heard about Graham Plattner's controversies, compared to only 38% of Texas voters who have heard about Ken Paxton's problems.

Jon Favreau New York Times/Siena poll

Two-thirds of Maine voters think Susan Collins has good character and morals.

Dan Pfeiffer New York Times/Siena poll

Milot Kiros, a 29-year-old DSA candidate, defeated 15-term Democratic incumbent Diana DeGette by approximately 10 points in Colorado's 1st Congressional District.

Jon Favreau no source cited

Phil Weiser defeated Senator Michael Bennet by about 12 points in the Colorado Democratic gubernatorial primary.

Jon Favreau no source cited

Sherrod Brown has a +8 favorable rating in Ohio but is down 3 points in the Senate race against Jon Husted.

Dan Pfeiffer New York Times/Siena poll

Trump won the four key red Senate states (Alaska, Iowa, Ohio, Texas) by at least 11 points each.

Dan Pfeiffer no source cited

OpenAI offered the US government a 5% stake in the company.

Dan Pfeiffer no source cited

The Texas Republican Senate primary was the most expensive primary in history, with John Cornyn and his super PACs spending ungodly amounts telling voters about Ken Paxton's corruption.

Dan Pfeiffer no source cited

Harris won Colorado's 1st Congressional District by more than 50 points in 2024.

Dan Pfeiffer no source cited

A Fox News poll shows Plattner down 3 to Susan Collins and Turek up 4 on Hinson in Iowa.

Jon Favreau Fox News polls

In Maine, more than 8 in 10 voters think the Maine economy is bad.

Dan Pfeiffer New York Times/Siena poll