So I put together a list of the biggest takeaways from the new U.S Debt selling agreement that still needs to be passed by the Senate. Let's go ahead and start sharing my screen and jump right into it. I Really hope that you learned something new and if you do, please consider dropping a thumbs up and subscribing. And of course, happy Memorial day And thank you to all those that have served and we appreciate your sacrifice.

Let's go ahead and jump right into it. So what is in the debt Ceiling deal? So addressing the debt ceiling, the agreement would suspend the debt limit through January 1st 2025. This removes it as a potential issue in the 2024 presidential election. Kind of when asking the question, why was all of this going on? Why was there such an issue in increasing the debt limit? Um, it's because next year obviously we have the 2024 Presidential election.

It doesn't really surprise me that again, the Republicans are using this time kind of as an opportunity to request their demands to put the market in maybe a specific category or in a specific place that might be more favorable to them and vice versa, right? Same thing for the Democrats. They want to put themselves in a position that's more favorable for the Democrats to be re-elected Makes sense. It's unfortunate that people like you and I are always the one that end up kind of getting the short end of the stick, so cap. So the first thing of this deal is it caps non-defense spending.

Under the deal. non-defense spending would remain relatively flat in fiscal 2024 and increase by one percent in fiscal 2025 after certain adjustments to Appropriations were made according to a White House official. The second thing is it protects Veterans Medical Care The deal would maintain full funding for veterans health care and would increase support for the P-a-c-t ACT Toxic Exposure Fund by nearly 15 billion dollars for fiscal 2024 according to a White House Source Now the third takeaway is it expands work requirements. So the agreement calls for temporary broadme of work requirements for certain adults receiving food stamps.

In my opinion, when it comes down to this, and again, just my thought. remember Republicans really wanted to cut back on type of government AIDS right? So if we are going to continue to provide food stamps when we're deeply in debt, they're just gonna almost I would say uh, it says broadening of work requirements for certain adults receiving food stamps, so maybe making it a little bit more accessible. Not too sure what how it is that you see that, but you guys can let me know down in the comments section. So claw, uh, claw back sub Covid-19 relief funds.

So pretty much again, we're in big debt right now. We don't want to be spending more money than we have to, so claw back on some Covid-19 relief funds. The deal would reside 30 billion in unobligated funds from the Covid-19 relief packages that Congress passed to respond to the pandemic. According to The House GOP fact sheet, I Don't think that's a bad thing.

You guys can let me know in the comment section Again, kind of. uh, cutting back on some expenses definitely makes sense when we're this much in debt, right? So Cut: Internal Revenue Service Funding I Don't know about you guys, but I definitely agree on this one, right? So the agreement would cancel the total fiscal year 2023 Staffing funding request that the House GOP says would go for the new IRS agents according to the fact sheet: I Actually haven't heard that many people talk about this and to me I think this is a huge takeaway because there's a huge backlash when they said I think it was like 69 000 or 89 000 new IRS employees were going to be or new jobs are going to be created right? It made a lot of people concerned because again, they are most likely um, you know, just going to be going after people and this kind of just, um, brought some concern why so much money is being spent on that? Uh, and I guess this is a cutback on that, so definitely makes sense. You guys let me know in the comment section if you agree with that. So restart.

uh, student loan requirements or repayments? Um, so if you guys didn't know, especially after the pandemic, a lot of the student payments kind of like when you take out a loan right or pause So under the deal, borrowers would have to begin paying back their student loans at the end of the summer as the Biden Administration has already announced. according to another source familiar with the debt Celine talks. The pause has been in effect since Covid-19 pandemic began. So again, it doesn't really surprise me.

Let's go back to paying those bills. You know we've already made it through Kobits. Let's no, not pretend that we haven't right? So maintain climate and clean energy measures. That makes sense.

The agreement would not make any changes to the inflation reduction at climate and Clean Energy Provisions Um according to the White House talking points. So and then the last thing is expedite pipeline in West Virginia I Believe this is for natural gas, right? Yeah, the agreement would also spend Uh would also speed the creation of the Mountain Valley pipeline, a natural gas pipeline in West Virginia So again, those were the biggest takeaways. Um I Know that when it comes down to protecting the veterans, that was a big Focus for the Republicans when it comes down to cap to pretty much what a cap on non-defense spending. so really limit non-defense spending right when it comes down to the military I know Republicans were all for that.

but when it comes down to non-military spending, uh, I know that they really wanted to cut back on that, so that's kind of a compromise. And then the other thing that I think was one of my biggest things is the pandemic cutback and the cutback on the IRS funded I Think that's one of my biggest takeaways that I'm learning from this. Um, you guys can let me know down in the comment section again: I Just wanted to make sure that I keep you guys up to date as I begin to learn more. Um, you know, making you guys all aware of that.

So make sure that you guys subscribe to the channel if you guys haven't done so already. and as I begin to learn more about this U.S debt ceiling deal especially as it goes through Congress and that needs to be voted on and passed by the Senate Remember this: this hurdle isn't We're not over this hurdle just yet. It still needs to be passed. It's an agreement between McCarthy and an agreement between Biden.

Both Republicans and Democrats still have to vote on this and it has to pass get passed through Senate and if it doesn't, then we go back to square one. If you guys didn't see I Wanted to show you this very quickly if you guys didn't see. overall NASDAQ markets were trading higher but have recently pulled on back and you can see just a little bit of a decline as we go into Memorial Day So we're still in the green for the NASDAQ Market but it's kind of cutting back. So if Market were to be open right now would be up about point three three percent, but Tkq would only be up one percent.

and this is after the news of the agreement being put into place. But again, a lot of people think that, uh, the U.S debt deal was already being factored into the market for the past two and a half weeks. Uh, the last thing that I do want to remind you is, uh, friendly Reminder: for all those that haven't joined Lpp yet, you definitely don't have to if you're not ready. Uh, but we did just start for the last week of our GTR giveaway.

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so I appreciate your time. Hope that weren't a thumbs up. Again, happy Memorial day and thank you to all those that have served and like always, let's make sure that we in the.