February 1, 2019 | by Chris Cillizza and Sophie Tatum

Donald Trump's BIG 2020 edge

President Donald Trump faces a very tough road to a second term in 2020. His job approval numbers are mired in the low 40s, Democrats loathe him, a significant chunk of Republicans want someone else as their nominee and, on top of all of that, special counsel Robert Mueller is still working on his report about Russian interference in the 2016 election.

But it's not all dark clouds for Trump. Because in at least one respect, he will have something that he never had in 2016 -- and something that none of his potential 2020 Democratic opponents will have either: massive amounts of money (and the time to use it as he sees fit.)

In his first two years in office, Trump raised $130 million for his 2020 race -- and has spent all but $19 million of it. Those numbers are absolutely without any modern comparison -- as both George W. Bush and Barack Obama largely eschewed raising money for their re-election in their first two years in the White House. (Obama had raised just over $4 million for his 2012 race at this point in 2011.)

Trump has shown no such compunction. He has held a series of big-ticket fundraisers since almost the beginning of his administration -- and a super PAC aligned with Trump raised $75 million over the first two years of his presidency as well.

That sort of focus on fundraising (and the campaign's active spending) means that the Trump 2020 campaign will be vastly better funded (and in theory, better organized and structured) than his 2016 effort, in which he was badly outspent in every swing state by Hillary Clinton. (Of course, money is not determinative to outcomes; if it were, Clinton would be president right now.)

With a crowded Democratic field already in place, Trump will also be able to continue to raise and spend tens of millions of dollars on his general election campaign while his likely opponents beat each other up and exhaust their own campaign coffers.

The Point: If you're looking for a silver lining in the dark clouds surrounding Trump's 2020 bid, you're looking for the wrong color lining. It's a green lining. Very, very green.

-- Chris

Here's the week that was in political Washington, in 29 headlines.

Monday:

Tuesday:

Wednesday:

Thursday:

Friday:

QUOTE OF THE DAY

"I would say, the best opening so far would be Kamala Harris."

-- Donald Trump to The New York Times on which of his 2020 opponents he thinks came out of the gate the strongest. Chris explains why his compliment for Harris is spot-on.

MUST-WATCH TV

President Trump on Friday suggested he could announce something about border wall funding during next week's State of the Union address.

"I don't want to say it, but you'll hear the State of the Union and then you'll see what happens right after the State of the Union," Trump told reporters in the Cabinet Room on Friday when asked whether he will declare a national emergency on the wall issue, per CNN's Maegan Vazquez.

"(W)e're going to make a big step in the next week or so, prior to my doing anything, but actually having a national emergency does help the process," Trump later said.

CHRIS' GOOD READS

Tom Moran on Cory Booker...

...and Michael Grunwald on Cory Booker

Rick Scott's not a big fan of the Senate so far

1 day in the life of a public defender

On the pain of being a New York Knicks fan, by Michael Powell

MUSICAL INTERLUDE

If you don't know Irish singer/songwriter Dermot Kennedy, fix that immediately. Start with his Tiny Desk concert, featuring vocalists from Howard University.

#2020 WATCH

Sen. Cory Booker of New Jersey is in, he announced Friday.

In his announcement video, Booker can be seen walking through his Newark neighborhood, where he rose to prominence as mayor.

Booker joins a crowded Democratic primary, which is "already the most diverse in history -- with multiple women, one gay candidate, a Latino and, with Booker now in the mix, two black candidates," CNN's Rebecca Buck writes .

Here, Chris breaks down Booker's chances of winning.

THE POTUS ECONOMY

Do you want to see a chart about how US stocks performed under each recent president? Of course you do:

In the two years since Trump was inaugurated to the end of January 2019, the S&P 500 has risen 19%. Dating back to Reagan, that's the second-best performance in a president's first two years.

CNN Business will update this tracker at the end of each month.

ANOTHER ONE BITES THE DUST

The US is pulling out of the Intermediate-Range Nuclear Forces Treaty, Secretary of State Mike Pompeo announced Friday.

The INF Treaty is a key pact with Russia and has been a centerpiece of European security since the Cold War. The move to leave it has long been anticipated, CNN's Nicole Gaouette and Jennifer Hansler reported.

"For years, Russia has violated the terms of the Intermediate-Range Nuclear Forces Treaty without remorse," Pompeo said. "Russia's violations put millions of Europeans and Americans at greater risk."

What happens now? There's a 180-day window to complete the withdrawal unless Russia starts to comply with the decades-old deal.

And here's a list of all the treaties and agreements Trump has abandoned.

YOUR DAILY GIF

From Brenna: "So nice of Cory Booker to point down at this excellent caption. Sadly, the only thing I have to dazzle you with is a reminder that January is over and also that you should share The Point with the person you have to remind about paying rent."

We'd love to share our other newsletters with you. Follow this link for daily coverage of the world's top stories, savvy market insights, an insider's look into the media and more. Send your tips and thoughts via email to Chris Cillizza and Lauren Dezenski. Follow Chris and Lauren on Twitter.

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