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Tidbits, Debt Ceiling, Droughts, Markets & Rain Days Update 5/29/23


Turkey’s President Erdogan has won the runoff election yesterday. His victory will make Putin happy.

All the Asian markets opened higher today because of the debt ceiling deal.


  • Debt ceiling to be raised to cover deficit spending for 2 years

  • Spending cuts of $50 billion, just 0.2% of GDP

  • $10 billion removed from the recent budget increase for IRS

  • No budget caps after 2025

  • No new taxes or government programs

  • Boost in defense and VA spending

  • Domestic program spending is frozen for one year

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