The Note: What Candidate Trump Means For The GOP

— -- By MICHAEL FALCONE

NOTABLES

--DONALD TRUMP SAYS HE'D 'WIN EASILY' IF HE RAN WITH OPRAH. According to Donald Trump, a 2016 ticket of Trump for president and Oprah Winfrey for vice president would be a lock for the White House, ABC's CHRIS GOOD notes. "I think Oprah would be great. I'd love to have Oprah," Trump told ABC News. "I think we'd win easily, actually." "She's great, she's talented, she's a friend of mine," Trump told ABC's GEORGE STEPHANOPOULOS when asked if Winfrey is still on his VP shortlist. Trump announced his presidential candidacy in a speech at Trump Tower in Manhattan Tuesday, sitting with ABC's George Stephanopoulos at his high-rise for his first interview as a candidate. http://abcn.ws/1MJ0Bg4 MORE FROM GEORGE'S INTERVIEW ON "GOOD MORNING AMERICA" TODAY: http://abcn.ws/1SnFfZr

--ANALYSIS -- ABC's RICK KLEIN: Here's to a (partial) defense of Donald Trump ... or at least an explanation. No, he won't win the Republican nomination for president, and no, his rambling announcement-day speeches (Mexico? Free trade? China?) won't help him get taken much more seriously. But there's a slice of voters, not insignificant in the Republican primary race, who despise Washington and politicians more broadly. Every candidate likes to try to channel that, but none bring the bluster that Trump does. (Tuesday night in Des Moines, he blasted Jeb Bush as a poor dresser, and said he had better hair than Marco Rubio.) Trump is a sideshow, but one whose act will spill on to the main stage, particularly if he earns a debate invitation or three. His candidacy may be a giant joke. But don't forget there are voters who want to laugh, and hard, at the entire political process.

--HAPPENING TODAY: ABC News "World News Tonight" anchor DAVID MUIR will interview Jeb Bush on the campaign trail today. Muir's interview will include exclusive access to the GOP presidential candidate's first three days on the trail. The interview will air on a special edition of "World News Tonight with David Muir" from Iowa at 6:30 p.m., ET on ABC. Portions of the interview will air across all ABC News programs and platforms.

--SOCIAL SQUARE: From Facebook: "In the 24 hour period between 12:01 a.m. ET June 16 and 12:01 a.m. ET June 17, 3.4 million people on Facebook in the U.S. generated 6.4 million interactions (likes, posts, comments, shares) related to Donald Trump and his announcement. Note: over the last 90 days, conversation about The Donald has been generated by an average of about 39,000 unique people per day."

--ABC NEWS PARTNERS WITH IJREVIEW FOR NEW HAMPSHIRE GOP PRIMARY DEBATE. From the IJReview: "IJReview, a leading social-first news company, will partner with ABC News to host the New Hampshire Republican Primary debate. It will be IJReview's first presidential debate and will be held at St. Anselm College on Saturday, February 6, 2016. The debate will air live in primetime on the ABC Television network and WMUR-TV, ABC's Hearst-owned affiliate in Manchester, New Hampshire. This event is one of the debates officially sanctioned by the RNC." FULL RELEASE: http://bit.ly/1GYzHlW

TODAY ON THE TRAIL with ABC's CHRIS GOOD: Jeb Bush continues his post-announcement tour in Iowa, where he'll attend a meet and greet at a private home in Washington, IA at 11 am ET and hold a town-hall in Pella at 6:15 pm ET. Donald Trump will hold a post-announcement rally at Manchester Community College in Manchester, NH at 5:30 pm. Hillary Clinton will be in South Carolina, where she'll meet with community leaders in Orangeburg and then speak at Trident Technical College. Lindsey Graham is out with an e-book today. Ben Carson is in Dallas, where he's attending an event hosted by the Success North Dallas Group and tonight he'll address the NALEO GOP-candidates' forum in Las Vegas at 5 pm ET. John Kasich will be in New Hampshire, where he'll walk downtown Manchester with the mayor at 3 pm ET, attend an awards dinner in Concord at 5:15 pm ET, and attend a Hudson Republican Committee meeting in Hudson at 7 pm ET.

THE BUZZ

HILLARY CLINTON TURNS FOCUS TO YOUTH UNEMPLOYMENT: As promised by her campaign, Clinton is beginning to roll out specific policy proposals now that she's in the official part of her campaign. On the agenda today, according to ABC's LIZ KREUTZ: Reducing youth unemployment. During a forum in South Carolina this afternoon, aides say Clinton will call for a tax credit for businesses that offer apprenticeships to young people. "She will describe how Apprenticeships are widely cited as a win-win for workers who will see higher wages and businesses who will be able to gain skilled employees," they say.

MORE TRUMP: THE DONALD RODE AN ESCALATOR TO 2016 PRESIDENTIAL ANNOUNCEMENT. Donald Trump's road to the White House started on an escalator. While other presidential candidates prefer a splashier start to their presidential bids, The Donald proved once again on Tuesday that he does things his way. As Neil Young's "Rockin' In The Free World" played in the lobby of Trump Tower on Fifth Avenue in New York City, the real estate and reality television mogul descended an escalator to his own presidential announcement. http://abcn.ws/1SkPNIC

--NOTED: OFFICIAL STATEMENT FROM NEIL YOUNG: "Donald Trump was not authorized to use 'Rockin' In The Free World' in his presidential candidacy announcement. Neil Young, a Canadian citizen, is a supporter of Bernie Sanders for President of the United States of America."

--10 THINGS HE ACTUALLY SAID AT HIS 2016 PRESIDENTIAL CAMPAIGN ANNOUNCEMENT. If he's elected in 2016, the GOP hopeful predicated that he would be the most successful president for U.S. jobs that "God ever created," used the recent sale of a multi-million dollar apartment he owned to someone from China as an example of his friendly ties with the country, voiced concern that people from the Middle East are "probably" sneaking into the country through the border, and revealed that rich Islamic terrorists are his competition within the hotel market in Syria. ABC's ALI DUKAKIS has a roundup: http://abcn.ws/1KWEpk5

--HERE'S WHAT A DONALD TRUMP PRESIDENCY MIGHT LOOK LIKE. It's a long time between now and Election Day 2016 and a long way between Fifth Avenue and the White House. Let's imagine for a second that The Donald, known for his signature coif, vast real estate holdings and jet-setting lifestyle, actually pulls off the unlikely -- some would say impossible -- and wins this thing. Here's a sneak peek at what a Trump presidency might look like: http://abcn.ws/1JWgfFy

--WHAT THE WHITE HOUSE THINKS: Though Trump targeted President Obama consistently in his speech, the White House refused to take the Trump bait, ABC's ARLETTE SAENZ notes. Asked by ABC's JIM AVILA about Trump's assessment that the president is a "bad negotiator" on trade, White House Press Secretary Josh Earnest said "I think I'm going to try to exercise more self-discipline than even Mr. Trump himself might and avoid commenting on his announcement."

IN CASE YOU MISSED IT

MICHELLE OBAMA SHARES ROYAL TEA WITH PRINCE HARRY. First lady Michelle Obama received the royal treatment in London on Tuesday when she met with Prince Harry over tea at Kensington Palace on the first leg of her week-long European tour, ABC's ARLETTE SAENZ notes. Kensington Palace announced the prince was "very pleased" to host the first lady, her daughters Sasha and Malia, and her mother Marian Robinson. Obama and Prince Harry discussed their mutual desire to help military families as well as the first lady's "Let Girls Learn" initiative to promote education for adolescent girls across the world. http://abcn.ws/1TqmJ3V

WHO'S TWEETING?

@PhilipRucker: Jeb Bush allies go after Marco Rubio. Their message: nice guy who needs more experience to be president. http://www.bloomberg.com/politics/articles/2015-06-17/jeb-bush-allies-take-aim-at-marco-rubio-s-youth-and-inexperience ...

@JamesPindell: Ground Game | Which isn't true: Sanders within striking distance of Clinton or Trump running for president?- http://eepurl.com/bqFVRf

@reidepstein: In Iowa, lotta folks with Bush family ties are not eager to jump on board with Jeb w/@rebeccaballhaus http://www.wsj.com/articles/jeb-bush-is-slow-to-catch-fire-in-iowa-1434533403 ...

@tripgabriel: Bishops of Des Moines and Davenport plan event to highlight threat of climate change to farmers in IA. http://mobile.nytimes.com/2015/06/17/us/politics/popes-views-press-gop-on-climate-change.html?referrer=&_r=0&referrer= ...

@edatpost: Some analysis via @jimtankersley: A housing bubble made @JebBush look great - and then it tanked #Florida's economy http://wpo.st/oRtL0