Lamb Chops
The Mega-Maga negotiations will end up much like the Continuing Resolution intended to keep the government funded until March. It is 1,500 pages of special privileges and giveaways.
Tuesday, January 7th, 2025
Bill Bonner, writing today from Baltimore, Maryland
May he come down like rain on the mown grass
Like showers that water the earth
In his time shall righteousness flourish
And abundance of peace
Til the moon shall be no more.
--Psalm 72
The great moment approaches. One big beautiful bill... and our problems are over. (At least, that was the promise on Sunday. By Monday, the Great Helmsman may have changed course.) Agence France Presse:
Top US Republican eyes swift passage of Trump priority mega-bill
The speaker of the US House said Sunday he was pushing an "aggressive" timeframe for getting a multi-trillion-dollar bill addressing immigration, tax cuts and more to Donald Trump's desk by April, within his first 100 days in office.
And here’s the Wall Street Journal:
Republicans Lean Toward ‘One Big, Beautiful Bill’ for Trump Agenda
Republicans look increasingly likely to try combining all of their top legislative priorities — tax cuts, spending cuts and border security — into a single large bill, aiming to push President-elect Donald Trump’s agenda through Congress in one fell swoop.
The one-bill approach attempts to unite the Republican Party’s disparate factions, and it could require months of delicate negotiations to find the balance of policies that satisfies nearly everyone. The GOP will have a 53-47 Senate majority and, at best, a 220-215 House advantage after vacant seats get filled.
Mike Johnson:
At the end of the day, President Trump is going to prefer, as he likes to say, one big, beautiful bill. And there’s a lot of merit to that because we can put it all together — one big up or down vote — which can save the country quite literally because there are so many elements to it. And it’ll give us a little bit more time to negotiate that and get it right.
This is very different from the approach taken by Javier Milei in Argentina. He declared balanced budgets were ‘non-negotiable.’ And he stuck with it, producing the first balanced budget in 123 years.
Back in the USA, is three months’ of ‘delicate negotiations’ actually going to find the ‘balance of policies that satisfies nearly everyone?’ Or is this just a pack of wolves, deciding which lamb to eat first?
Most likely, the Mega-Maga negotiations will end up much like the Continuing Resolution intended to keep the government funded until March. It is 1,500 pages of special privileges and giveaways...
Baltimore gets money to fix its bridge... $10 million was set aside for a candy museum... while $5 million was the price tag on a study of the mating habits of frogs. A billion here, a billion there... and pretty soon, we’re talking about real money.
And the same people who patted each other on the back for that monstrosity... who approved 2024’s near-$2 trillion deficit and dug the $36 trillion debt crater in Washington...
... those wolves and jackals... members of Congress... lobbyists... policy wonks... rich donors... and the propaganda media...
... they’re now going to take the vegetarian option?
Will the lobbyists for the firepower industry admit that they really don’t need so much of the public’s money? ‘Heck, we don’t really need full spectrum dominance, after all,’ they might say; ‘we’ll just protect the country...’
And senior citizens... will the selfless geriatrics generously give up their cushy pensions and medical benefits? ‘Hey, we know the country is in a tough spot... what with owing so much money and all. So we’ll do our part to help. We’ll take a trillion dollars less.’
Congress; will it turn down a pay hike? Will Israel and the Ukraine make peace and tell the US to keep its money?
And how about those Silicon Valley billionaires, who invested millions to help Donald Trump to get elected? Their donations paid off last time. Latin Times:
A study conducted by professors and researchers from various institutions demonstrates that firms are more likely to get approved [for exemptions from Trump’s tariffs] if they have donated to the Republican Party. In contrast, firms found to be supporting Democratic campaigns were much less likely to receive approval.
They’re expecting another good return on their investment. Instead, seized by community spirit and runaway altruism, will they suddenly go straight?
‘We’re already billionaires,’ they might say, ‘The country probably doesn’t need our whiz-bang technology, anyway. And using it to dispense propaganda and track Americans is probably unconstitutional..’
Yes, we look forward to that glorious day when the parasites and grifters get on-board with a big, beautiful, Mega-Maga bill.
But we won’t hold our breath...
Regards,
Bill Bonner
Market Note, by Tom Dyson
Here's a quick sentiment check for expectations in 2025 from Bank of America's fund manager survey. In sum: everyone loves stocks, gold and bitcoin. Nobody likes bonds and cash. Contrarians take note!
How about this: Cut 20% ACROSS THE BOARD ON EVERY DAMN SPENDING CATEGORY???? End of story. EVERYBODY complains. EVERYBODY suffers. Yes, this means you, and you, and you, etc., etc.
Well, we may need to dust off whatever trust we might have remaining to witness an effort to stabilize and overcome a "train wreck" left by the Biden/Obama regime.
But, it will take time and a herculean effort to overcome the barriers left by a nasty, evil, and revengeful "head-of'state" lacky foisted on us by an undercurrent of elite progressives, who will eventually find themselves on the dust heap of history, if not a worse environment.