So they did it. They finally compromised with the U.S Debts like what's going on guys, it's Ricky here with Techbook. Solutions I Hope that I earned your thumbs up and make sure that you subscribe. I'll keep you guys up to date with everything it is that you need to know about the stock market.

So yes, you are reading this correctly. I'm going to start sharing my screen so you guys can see exactly what it is that I'm talking about. But according to this article and all the different articles that are being released right now, there is a compromise for the U.S debt ceiling to be raised. Therefore, no default right? But is the struggle or challenges over? definitely not.

And this is why we're going to read the article together. Let me go ahead and share my screen with you again. This is QQQ which is the NASDAQ ETF NASDAQ Market is at Uh 2023 all-time highs. It has gained over 37 percent from its lows of early 2000 I'm sorry lows of late 2022 to its current highs again 37.78 meaning Tkq has gained over 100 percent in the past six months of trading.

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My apologies, uh, but again, just wanted to make sure that you guys were aware of this shoptechbuds.com or the fourth Link in the description down below. Let's go ahead and get right into it. So White House and GOP strike debt limit deal to advert default with the government on track to reach its borrowing limit Within days, Negotiators have sealed an agreement to raise the U.S debt ceiling for two years while cutting and capping certain federal programs. Remember again, I'm going to be breaking this down based off of my understanding of yes, can you feel free, feel free to share your thoughts down in the comment section.

But remember right, the the reason that they weren't able to raise the U.S debt ceiling is. well, the US is running out of money, right? so therefore they need Congress to pass the the approval pretty much to raise the limit in which they can borrow, right? So they need to borrow more money because they're running out of money. Republicans Viewed this as a an edge to be able to negotiate, meaning that okay, you want us to raise the U.S debt ceiling meet these demands So Based off of, you know the compromise. It seems like not both parties got exactly what they wanted, but there was some compromise because originally Biden said that no, no negotiation, you need to raise the U.S debt sign And this is why so many people were concerned because it seemed like both sides were really holding their ground until today, right? So still a little shy of June 1st.

But finally, uh, putting things into place, right, let's go ahead and jump right into it. So President Biden and speaker Kevin McCarthy on Saturday reach an agreement in principle to lift the debt limit for two years while cutting and capping some government spending over the same period. A breakthrough after a marathon set of Crisis talks that has brought the nation within days of its first default in history. This would have been insane if the Us would have default.

One of the safest forms of Investments right is investing in the treasury bond, right? And if this wasn't met, and the U.S couldn't pay its obligations, right, the U.S would have to default. The stock market could crash 45 according to different articles I've read as well as the treasury, Bond will see a huge drop and again really put and show a lot of weakness coming from the US. So what? I've heard from both sides, both sides really need to compromise. We needed to pass this debt limit increase and finally things are looking like they've at least met with a deal, right? Um, so one thing that I want to share with you guys is says treasury is protect.

uh, projected to exhaust its ability to be able to pay its obligations right? Just like we said, they're pretty much running out of money. it says uh, In particular, the house which plans to consider it on Wednesday Republicans hold a narrow majority in the chamber. Pretty much. you know when it comes down to needing to raise this debt limit, Republicans pretty much control the ability to raise it or to approve it or not.

right? In comparison to how many Democrats there are now, the right-wing lawmakers who had demanded significantly larger budget cuts in exchange for lifting the borrowing limits were which were already in Revolt. So pretty much what Republicans wanted is. Sure we'll raise the U.S debt limit, but you need to stop start spending less money. That's always been kind of more of the Republican side of things where like hey, like we're borrowing a lot of money, we're in this huge hole of debt.

Let's stop spending and stop spending money, in these specific areas. So I Don't think that all demands were met, but at least some compromise was meant for the Republicans. But the compromise which Uh would effectively freeze Federal space. Funding that had been on track to grow had the blessing of both the Democratic president and the Republican speaker McCarthy Raising Hope that he could break through its fiscal stalemate and has gripped Washington and Nations for weeks, threatening an economic crisis.

Not much there, right? Mr Biden urged the house and the Senate to pass the our Uh the agreement in a late night statement issued by the White House saying it would prevent a catastrophic default. Remember, if they didn't raise the debt limit, the U.S wouldn't be able to pay its obligation. Therefore, it would have to default at that point. Again, who knows what would have happened? This would have been the first time ever in history.

It is important. It is an important step forward that reduces spending while protecting critical programs for working people and growing the economy for everyone. Mr Biden Said and the agreement protects my and Congressional Democrats key priorities and legislative accomplishments. The agreement represents a compromise, which means that not everyone gets what they want.

But but according to what Biden originally said, no, no negotiation I Still see this as somewhat of a win for the Republicans. You guys let me know down in the comment section, the President and Mr McCarthy spoke on the phone on Saturday evening to resolve final sticking points. So this is I think where most of the meat is like, What was this compromise and and what's the breakdown of this so we don't know all the details but this is going to be some. So in a nighttime news conference outside his Capital office and which lasted just one minute, Mr McCarthy said that the deal could uh contained historic reduction in spending uh consequential reform that will lift people out of poverty, poverty, and in the workflow Workforce rain in government Outreach and would this was the biggest one? This is when I read this I knew that Republicans were aiming for this and and would add no new taxes because remember the way that the Democrats wanted to approach this is they wanted to raise taxes and Republicans obviously have always been against that right? So that was I would say something that probably you know that the Republicans did not want to compromise with but that the Democrats of course wanted to work towards but had to compromise.

and okay or at least for not the next two years, right? Uh, where we're not going to be able to add any new taxes to tax? you know, uh, more. So he declined to answer questions or provide specifics, but he also planned to release a legislative text on Sunday So I guess we will know more tomorrow. Um, we still have more work to do tonight to finish all all the writing of it. He said this was the part that was most concerning to me, right? I'm going to share this article with you guys.

You guys can look it up. It's from New York Times but literally every news outlet has their own version of it, so feel free to look it up to your own due diligence. This was my biggest thing. The plan was structured with the aim of enticing votes from both parties, meaning that it had to be attractive enough because they have an agreement, right? but Congress still has to pass it.

This is the part that I feel like we're kind of getting a little ahead of ourselves. I Mean we're running out of time, so it's in their benefit to agree to it. But it's enticing enough that remember these are these are people that represent Republicans And then the Democrats So Biden and McCarthy came to an agreement. but now people have to vote to pass if this legislation is actually going to be approved right and to actually raise the U.S element.

But if there's a handful of Republicans or a handful of Democrats like heck no, I'm not going to compromise or or agree to this and they you know agree to decline it, then are we back to square one, right? So the plan was structured with the aim of enticing votes from both parties, so that's what I just explained. though it has drawn the ear not only of conservative Republicans but also Democrats furious at being asked to vote for the cuts they opposed with the threat of default looming. So again, exactly what we just explained the idea of. you know, do they not compromise and agree to this and risk the idea of a potential default? Or do they just say okay, this is somewhat of a compromise that I'm okay with.

Let's just pass it. I Guess we'll know in the next few days, but again, they came to an agreement. They still need to vote on it for it to pass. So again, if you want to read a little bit more of this all you literally need a Google search is U.S or White House and GOP strike deal and it should be able to pop right up.

And that's really just it. So what I'm going to be paying attention to tomorrow is updates on more of the specifics and I'll make sure that I keep you guys up to date so just make sure you subscribe and drop a thumbs up on this video. One thing I do want to remind you is turn on your post notifications because if not YouTube will not notify you when I post a new video. Second thing is when Nasdaq futures if they do open up tomorrow I know it's a three-day weekend, but if they do open up tomorrow I want to see how Nasdaq futures react I Want to see how Dow futures react I Want to see how S P 500 futures react because again, those open up around four to five PM Arizona Time tomorrow and that's before the Market opens.

So I'm very excited to see if this if the market reacts in a bullish way or based off of the compromise. If possibly the market reacts in a negative way, then you guys can let me know down in the comment section. But I know that there's a handful of people that are going to say this has already factored in. the market should not be reacted.

The Market's been bullish for the past two and a half weeks because of this because they could strike a deal. Now they striked it. This should already be factored in. But who knows, right? we're not here to predict the future.

We don't have a crystal ball. We're here to prepare for it. I'll keep you guys up to date. I'm very excited to do so.

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