In light of Michael Cohen’s plea deal, Democrats and the liberal news media are out for blood. Rep. Elijah Cummings, D-Md., called for a congressional hearing to “obtain sworn testimony directly from Mr. Cohen.” Time magazine proclaimed: “Trump is in trouble. Here’s how much worse it can get.”

Except he’s not, and it won’t get “worse.” Actual campaign-finance experts, outside the liberal outrage mob, generally agree: Even if Cohen’s activities are campaign-related — though they probably aren’t — they amount to a Federal Election Commission speeding ticket.

President Donald Trump didn’t violate campaign-finance law; the payments made to Stormy Daniels and Karen McDougal came from his personal finances, not campaign funds, for something he believed was unrelated to the campaign. As the president told Fox News, “They didn’t come out of the campaign; they came from me.”

At the very worst, even if re-characterized to be campaign-related, the “violation” amounts to underreporting relatively insignificant contributions from a candidate to his own campaign.