Trump Facing Mounting Pressure to Resign
President Trump faced growing pressure on Thursday after it was suggested that he spurred on a group of protesters who later invaded the United States Capital. This apparent involvement resulted in calls for his resignation, renewed talk of impeachment proceedings, and a call for Vice President Pence to undertake constitutional moves to remove him from office.
House Speaker Pelosi, the leader of the Senate, Chuck Schumer, and top-ranking democrats all called for Vice President Pence and the current cabinet to invoke the 25th Amendment to the Constitution. The amendment provides a mechanism to remove the president, replacing him with the current Vice President. VP Pence did not respond. Democratic members of Congress instead floated impeachment as a viable alternative.
Other members of Congress, including staunch Trump supporter Adam Kinzinger, have also called for Trump’s resignation or for him to be forced out of office.
Because of the episode, Transport Secretary Chao and Mick Mulvaney, the Trump administration’s special envoy to Northern Ireland, both resigned their posts. Others, including Treasury Secretary Mnuchin, have indicated their willingness to remain, helping the President avert a crisis of mass departure.
Secretary Mnuchin, along with senior members of his staff, have indicated their willingness to remain in their posts to ensure an orderly transition to the administration of President-Elect Biden.
Trump released a statement late Thursday in hopes of calming the situation that he purportedly stoked for weeks prior to yesterday. During the address, he indicated his willingness to leave office. The President said, “The results have been certified. A new administration will take office on January 20th.” The President went on to say his focus was on ensuring an orderly transition of power, at the same time, condemning the attack.
President-elect Biden spoke to the American people, calling the assault on the Capital an assault on the most sacred of all American undertakings. Biden linked Trump’s action to mob rule, saying that the current president has made his contempt for the rule of law clear.
Calls for Impeachment
Democratic House leader Schumer called for V.P. Pence and the cabinet to involve the 25th amendment to the Constitution. This move could result in the ousting of Trump. If this move cannot be made, Schumer said Congress should pursue impeachment proceedings. Schumer further stated that the events that took place in and around the Capital Building were nothing less than an insurrection aimed at the United States, and it was incited by Donald Trump.
Speaker Pelosi echoed Schumer’s remarks, urging V.P. Pence to use the 25th Amendment to remove President Trump from office. If this is not done, Pelosi suggested that Congress is prepared to move forward with a move to impeach Trump for the second time in his presidency.
Pelosi said that Trump is dangerous and should not be allowed to remain in office. She stated, “This is urgent. This is an emergency of the highest magnitude.” Members of the House Judiciary Committee are circulating articles of impeachment.
The articles iterate Trump’s effort to subvert the results of the November Presidential Election and incite mob violence. If approved, the articles of impeachment would bar Trump from holding any public office in the future, ending any hope he may have to return to 1600 Pennsylvania Avenue four years from now.
Financial Markets Unfazed
Financial markets are somewhat unfazed by the assault on the Capital. Investors are more interested in and focused on the prospect of additional spending on Covid-19 relief once the change of power occurs.
Upon receiving news of the violence, stocks pared earlier gains but quickly rebounded. All major indices inched up on the day, with the Nasdaq 100 jumping