Honestly, him getting sidelined for like six weeks when the trial actually happens may be more significant than any reaction to the actual charges. If he gets indicted now, he'd be on trial likely at the end of 2023/start of 2024, at the height of the primaries. Imagine if he can't go to IA/NH/NV/SC because he's stuck in Manhattan at his court appearances every day.
Imagine if a Senate trial for a President was held right before the Iowa caucus to help someone not in the Senate and hurt one or more sitting Senators. Of course that would never happen.
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