Letters from an American – February 17, 2026

Host: Heather Cox Richardson
Episode Date: February 18, 2026

Overview

In this episode, historian Heather Cox Richardson examines the mounting consequences—both domestic and global—of President Trump’s second term, now a year underway. Through a detailed recounting of recent events, Richardson highlights the United States’ growing international isolation, internal economic weaknesses, and the striking costs of the administration’s commitment to white Christian nationalism. Interwoven through her analysis are accounts of shifting global alliances, economic realignments, civil unrest, and a brewing political backlash within the U.S., especially among disaffected evangelicals.

Key Discussion Points & Insights

1. International Isolation and U.S. Global Decline

• "Welcome to the Golden Age" Irony (00:05): President Trump’s administration greets White House website visitors with a message of triumph, starkly contrasted with increasing U.S. isolation.
• Munich Security Conference Fallout (01:00):
  • Secretary of State Marco Rubio’s endorsement of white Christian nationalism received cold European reception.
  • Lt. Gen. Mark Hertling: U.S. squandered its strategic European advantage (01:40).
  • Ann Applebaum: "The word in Munich was that Europe needs to emancipate itself from the US as fast as possible." (02:00)
• Rising Global Alliances Without U.S. (03:00):
  • Germany brings Ukrainian veterans to train its armed forces in drone warfare.
  • Canada (PM Mark Carney) reducing defense dependence, forming bloc with EU and Indo-Pacific nations, and renewing ties with China (03:50).
  • France and India elevate their partnership to a "special strategic partnership" (04:15).
• Economic Consequences:
  • Scott Lincicome (Cato Institute): "The rest of the world is simply moving on without the US." (05:05)
  • U.S. markets lag behind global stock performance (Carl Quintanilla, CNBC, 05:30).

2. Domestic Labor & Economic Struggles

• Florida’s Migrant Worker Crisis (06:05):
  • State law requiring proof of worker legality forced foreign laborers to leave, leaving key industries short-staffed (06:20).
  • Wall Street Journal: "There's little evidence that undocumented migrants are taking jobs from Americans... Businesses can't grow if government takes away their workers." (07:10)
  • Florida AG James Uthmeyer: Advocates for apprenticeships and earlier workforce entry for young Americans to counter labor shortages (08:00).
• National Employment Slump (08:30):
  • U.S. only added 181,000 jobs in 2025 (lowest since 2003, besides the pandemic year); manufacturing lost 108,000 jobs (Steve Kopack, NBC News, 08:45).
• Commercial Real Estate Warning (09:15):
  • Banks calling in real estate loans amid rising delinquencies, with $100B in loans likely headed for foreclosure.

3. Trump’s Government Expenditures, Military Adventurism

• Social Cuts vs. Military Spending (10:00):
  • Cuts to social programs offset by surging spending on deportations and a dramatic escalation in military strikes.
  • 658 air/drone strikes launched in 2025 against multiple nations, with over 130 killed in anti-drug operations (11:00).
  • Troop movements toward Iran signal risk of escalation.
• Fiscal Risks & Tax Cuts (12:00):
  • The administration adds military costs to expenditures, touting tax cuts and tariffs as growth engines.
  • CBO projects $1.85T deficit for fiscal 2026.
  • Richard Rubin (WSJ): For every $1 collected, $1.33 is spent; Tax cuts expected to add $4.7T to the deficit by 2035 (13:00).

4. Trump Family Profiteering & Prediction Markets

• Regulatory Evasion (14:00):
  • Michael Selig (CFTC Chair): Moves to block state regulation of 'prediction markets'—platforms resembling gambling on geopolitical events.
  • Over 20 Democratic senators warn these evasion of oversight and ties to real-world conflicts pose major risks.
• Trump Family Ties (15:00):
  • Donald Trump Jr.: Advisor and investor in Polymarket and Kalshi.
  • Eric Trump: Investing in Israeli drone company Extend, merging with a Florida firm for U.S. public listing.

5. Civil Tension, Government Suppression, and Administration Fears

• Suppression of Investigations (16:20):
  • Minnesota’s BCA blocked from FBI files on a contentious police shooting.
  • Dissent grows within Homeland Security, especially regarding Secretary Kristi Noem’s controversial policies and actions (17:10).
  • Staff resignations and allegations of power misuse surface.
• State-level Republican Retrenchment (18:00):
  • Iowa Republicans seek to limit gubernatorial power for fear of a Democratic win in 2026.

6. Media Suppression, Evangelical Backlash, and Texas Politics

• Colbert’s Censored Interview (19:00):
  • Stephen Colbert: Barred from airing or even mentioning his interview with Texas Senate candidate James Talarico.
  • Colbert: "And because my network clearly doesn't want us to talk about this, let's talk about this." (19:40)
  • Talarico: Critiques the weaponization of Christianity—"There is nothing Christian about Christian nationalism. ...It is the worship of power in the name of Christ, and it is a betrayal of Jesus of Nazareth." (20:40)
• FCC Tightens Rules (21:20):
  • Enforcement of equal time rule expanded to include talk shows, chilling political coverage (Adam Bonin, lawyer, 21:35).
• Texas Political Shift (22:10):
  • Talarico: "I think that Donald Trump is worried that we're about to flip Texas… There is a backlash growing to the extremism and the corruption in our politics… a people powered movement to take back our state and take back our country."
  • Colbert's 15-minute interview with Talarico garners 3.8 million YouTube views; Forbes: most-watched interview in months.

Notable Quotes

• Ann Applebaum (02:00): “The word in Munich was that Europe needs to emancipate itself from the US as fast as possible.”
• Wall Street Journal Editorial (07:10): “Businesses can't grow if government takes away their workers.”
• James Talarico to Colbert (20:40): “There is nothing Christian about Christian nationalism… It is the worship of power in the name of Christ, and it is a betrayal of Jesus of Nazareth.”
• Stephen Colbert (19:40): “And because my network clearly doesn't want us to talk about this, let's talk about this.”
• James Talarico (22:10): "I think that Donald Trump is worried that we're about to flip Texas. ...backlash growing to extremism and corruption... a people powered movement."

Important Timestamps

• 00:05 – Trump’s “Golden Age” pop-up and theme of U.S. isolation
• 01:00–03:00 – Munich conference aftermath and global shifts
• 06:05–08:45 – Florida labor crisis, national job stagnation
• 10:00–13:00 – Rising government and military expenditure, deficit details
• 14:00–16:00 – Trump family’s financial ventures, prediction markets
• 17:10–18:00 – Homeland Security turmoil, Iowa Republicans' strategy
• 19:00–22:10 – Colbert–Talarico interview, media suppression, signs of political realignment in Texas

Tone & Language

Richardson narrates with her hallmark blend of analytical history and urgent warning. The tone is composed but deeply concerned, underscoring the links between today’s headlines and larger trends in U.S. and world history. The language throughout is clear, direct, and often sharp—especially when relaying the most serious warnings from experts and affected citizens alike.

For more, visit: heathercoxrichardson.substack.com