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Photo: Drew Angerer / Getty Images

Inside the Trump administration, sources who've been briefed on the Nunes memo expect it will be underwhelming and not the “slam dunk” document it's been hyped up to be.

What we're hearing: There is much more skepticism inside the administration than has been previously reported about the value of releasing the memo, according to sources familiar with the administration discussions.

Be smart: Trump still wants to release the memo. But there are a number of people in the White House who are fairly underwhelmed, and there's internal anxiety about whether it's worth angering the FBI director and intelligence community by releasing this information.

What’s next: Trump will almost certainly approve the memo’s release. The internal debate, now, is more around whether to make further changes to the memo — redactions to protect sources and methods — on the advice of the Intelligence Community.

Go deeper: The questions surrounding the Nunes memo

Get more stories like this by signing up for our weekly political lookahead newsletter, Axios Sneak Peek. 

Go deeper

Surprising pandemic side effect: Soaring trade deficits

Source: Census Bureau and Bureau of Economic Analysis; Chart: Axios Visuals

Inflation and jobs may get all the economic headlines, but meanwhile a big shift is taking place in the underpinnings of the world economy: The U.S. trade deficit is soaring.

What's happening: Americans' spending on imported physical goods has gone through the roof, while exports are growing slowly, making the U.S. the world's consumer of last resort.

Mike Allen, author of AM
42 mins ago - Politics & Policy

Third Way: "Big Lie" could become "Big Coup"

Graphic: Third Way

Third Way, the center-left think tank, is urging fellow Democrats to respond to the Capitol riot with "the size, scope, and seriousness of a presidential campaign," co-founder Matt Bennett tells me.

Driving the news: "For the first time in U.S. history, a party must mount two parallel presidential campaigns: one to win the election, and the other to prevent its theft," Bennett said, calling this "a Paul Revere moment."

Advocates say Biden has let Haitian migrants down

Photo illustration: Aïda Amer/Axios. Photos: Chip Somodevilla/Getty Images, Christian Torres/Anadolu Agency via Getty Images

Continued turmoil in Haiti is causing a growing number of Haitians to try to make it to American shores — and some advocates say the Biden administration isn't supporting this community in its time of crisis.

The big picture: Haitian-American activists in South Florida told Axios Today they feel like President Biden has gone back on campaign promises he made to the community to stand up for them.

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