Budget Deal; Shocking New Poll
Author: Greg Valliere
December 18, 2024
BUDGET DEAL: Virtually no one in Congress likes the deal that is close to enactment, and there could be some foot-dragging before the Dec. 20 deadline. But everyone on Capitol Hill wants to leave town, and they’ll go by this weekend.
LAWMMAKERS HAVE AGREED IN PRINCIPLE to a 1,500 page “Christmas tree” deal that adds billions of dollars in new spending, including aid to farmers, the Washington football team, flood victims — but not Ukraine, as President Biden requested.
HOUSE CONSERVATIVES will howl for the next two days, once they read most of the bill’s provisions that have been added (a good summary is in this morning’s “The Hill” web site). We doubt anyone will actually read the entire bill.
WE’VE HEARD THIS BEFORE, but this will be the last budget-buster for a very long time; spending will be virtually frozen into the fall of 2025. The catalyst will be a debt ceiling fight beginning in the spring that will defy a compromise.
* * * * *
IT TAKES A LOT TO SHOCK US, BUT WHAT CAN YOU SAY about the new Emerson College poll that shows 41% of young people — age 18 to 29 — think the killing of the United HealthCare CEO was “somewhat acceptable” or “completely acceptable.”
POLITICIANS WHO SHOULD KNOW BETTER will hide behind the caveat that healthcare providers are greedy and unaccountable, but if you have a problem, change the laws. What’s wrong with some of these young people — they condone murder?
The views expressed in this blog are provided as a general source of information based on information available as of the date of publication and should not be considered as personal investment advice or an offer or solicitation to buy and/or sell securities. Speculation or stated believes about future events, such as market or economic conditions, company or security performance, or other projections represent the beliefs of the author and do not necessarily represent the view of AGF, its subsidiaries or any of its affiliated companies, funds or investment strategies. Every effort has been made to ensure accuracy in these commentaries at the time of publication; however, accuracy cannot be guaranteed. Market conditions may change and AGF accepts no responsibility for individual investment decisions arising from the use of or reliance on the information contained herein. Any financial projections are based on the opinions of the author and should not be considered as a forecast. The forward looking statements and opinions may be affected by changing economic circumstances and are subject to a number of uncertainties that may cause actual results to differ materially from those contemplated in the forward looking statements. The information contained in this commentary is designed to provide you with general information related to the political and economic environment in the United States. It is not intended to be comprehensive investment advice applicable to the circumstances of the individual.
AGF Investments is a group of wholly owned subsidiaries of AGF Management Limited, a Canadian reporting issuer. The subsidiaries included in AGF Investments are AGF Investments Inc. (AGFI), AGF Investments America Inc. (AGFA), AGF Investments LLC (AGFUS) and AGF International Advisors Company Limited (AGFIA). AGFA and AGFUS are registered advisors in the U.S. AGFI is a registered as a portfolio manager across Canadian securities commissions. AGFIA is regulated by the Central Bank of Ireland and registered with the Australian Securities & Investments Commission. The subsidiaries that form AGF Investments manage a variety of mandates comprised of equity, fixed income and balanced assets.
About AGF Management Limited
Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. Our companies deliver excellence in investing in the public and private markets through three business lines: AGF Investments, AGF Capital Partners and AGF Private Wealth.
AGF brings a disciplined approach, focused on incorporating sound, responsible and sustainable corporate practices. The firm’s collective investment expertise, driven by its fundamental, quantitative and private investing capabilities, extends globally to a wide range of clients, from financial advisors and their clients to high-net worth and institutional investors including pension plans, corporate plans, sovereign wealth funds, endowments and foundations.
Headquartered in Toronto, Canada, AGF has investment operations and client servicing teams on the ground in North America and Europe. AGF serves more than 800,000 investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.
For further information, please visit AGF.com.
©2024 AGF Management Limited. All rights reserved.
