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The US Capitol building on Jan. 25. Photo: Alex Edelman/AFP via Getty Images

"Americans should understand that there will be a significant, long-term economic cost to our polarized politics and dysfunctional government," Washington Post economics columnist Steve Pearlstein writes on the Sunday Business cover.

The backdrop: House impeachment managers are arguing that the constitutional powers of Congress to indict a president will never function if Trump isn't found guilty of obstruction, while Trump's defense team is arguing that impeaching Trump would revoke voters' ability to judge the president for his actions.

"In the modern era, there are few if any examples of a country with a healthy, thriving economy and a broken political system. What distinguishes a successful economy from a failing one — what distinguishes Denmark from Italy and South Korea from North — is ... the laws, rules, norms and policies that create the framework in which any economy operates. ...
We can see [the] deterioration in our inability to adapt to changing conditions — the rise of China as an economic superpower, the influx of economic and political refugees, and the threat from global warming. ...
[O]ur approach has been to deny the problem, demonize those with whom we disagree and ostracize anyone who dares to compromise."
— Pearlstein, in the Post

Where it stands: Unemployment remains at a 50-year low, per the latest data from the Labor Department. But, chief financial officers are bracing for an economic slowdown this year, according to Deloitte's quarterly survey of nearly 150 executives at top North American companies.

The bottom line: "'Trump Impeachment Trial Begins. Stocks Hit New High.' If the headline sounds too good to be true, that’s only because it probably is.

Go deeper: Trump's economic shield against impeachment

Go deeper

Updated 5 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Health: CDC director defends agency's response to pandemic — CDC warns highly transmissible coronavirus variant could become dominant in U.S. in March.
  2. Politics: Biden readies massive shifts in policy for his first days in office.
  3. Vaccine: Fauci: 100 million doses in 100 days is "absolutely" doable.
  4. Economy: Unemployment filings explode again.
  5. Tech: Kids' screen time sees a big increase.
  6. World: WHO team arrives in China to investigate pandemic origins.
Dave Lawler, author of World
6 hours ago - World

Alexey Navalny detained after landing back in Moscow

Navalny and his wife shortly before he was detained. Photo: Kirill Kudryavtsev/AFP via Getty

Russian opposition leader Alexey Navalny was detained upon his return to Moscow on Sunday, which came five months after he was poisoned with the nerve agent Novichok. He returned despite being warned that he would be arrested.

The latest: Navalny was stopped at a customs checkpoint and led away alone by officers. He appeared to hug his wife goodbye, and his spokesman reports that his lawyer was not allowed to accompany him.

Mike Allen, author of AM
8 hours ago - Politics & Policy

Biden's "overwhelming force" doctrine

President-elect Biden arrives to introduce his science team in Wilmington yesterday. Photo: Kevin Lamarque/Reuters

President-elect Biden has ordered up a shock-and-awe campaign for his first days in office to signal, as dramatically as possible, the radical shift coming to America and global affairs, his advisers tell us. 

The plan, Part 1 ... Biden, as detailed in a "First Ten Days" memo from incoming chief of staff Ron Klain, plans to unleash executive orders, federal powers and speeches to shift to a stark, national plan for "100 million shots" in three months.