The next time a democrat is elected what stops them from closing all these things down and redirecting the money like is happening now with green initiatives, infrastructure etc... ? It's the price of such a divided country, wasting money on the others priorities rather than figuring out where to compromise for the good of the nation. Spend a lot on X then the next admin shuts that down and spends on Y. Back and forth. There has to a lot of waste in that.

Yes, I see what you mean. Polarized politics. There used to be a reasonableness, dealing with those across the aisle. Republicans are all but extinct; it's all Repugnants in charge by now. And the Demublicans have been actually tacking to the Right since the Clinton years, apart from the Woke Squad. (Though Obamacare is a positive development.) The Orange One is clearly a usurper. Hopefully, some semblance of normalcy will return when he's done. Is he dead yet?
*DUPLICATE. Dunno how that happened.

The next time a democrat is elected what stops them from closing all these things down and redirecting the money like is happening now with green initiatives, infrastructure etc... ? It's the price of such a divided country, wasting money on the others priorities rather than figuring out where to compromise for the good of the nation. Spend a lot on X then the next admin shuts that down and spends on Y. Back and forth. There has to a lot of waste in that.

Yes, I see what you mean. Polarized politics. There used to be a reasonableness, dealing with those across the aisle. Republicans are all but extinct; it's all Repugnants in charge by now. And the Demublicans have been actually tacking to the Right since the Clinton years, apart from the Woke Squad. (Though Obamacare is a positive development.) The Orange One is clearly a usurper. Hopefully, some semblance of normalcy will return when he's done. Is he dead yet?

OHHHH
This is probably why Tariff Toddler is demanding a 50% tariff coming on all EU goods starting 1 Jun.... Greenland just did a mineral deal with the EU!
https://www.newsweek.com/greenland-trump-permit-extraction-2075673

Here is where the $17 Billion cut from the NIH and the $5 Billion cut from National Science Foundation is going
"The measure roughly doubles the current annual budgets of Customs and Border Protection and Immigration and Customs Enforcement (ICE) in what Aaron Reichlin-Melnick of the American Immigration Council notes is “the single biggest increase in funding to immigration enforcement in the history of the United States.” It increases ICE’s detention budget from $3.4 billion a year to $45 billion through September 2029, a staggering 365% increase on an annual basis that would permit ICE to detain at least 100,000 people at a time.
It increases ICE’s budget for transportation and removal operations by 500%, from the current $721 million to $14.4 billion. It also calls for $46.5 billion for construction of barriers at the border, including completing 701 miles of wall, 900 miles of river barriers, and 629 miles of secondary barriers, and replacement of 141 miles of vehicle and pedestrian barriers.” It calls for $45 billion for adult and family detention, enough to detain at least 100,000 people at a time."
Anyone care to compare the future value of dollars spent on scientific research vs ICE ?

The only bright spot is that today’s newborns, when they are 90, will be able to easily remember who turned the USA into a third world debtor nation, beholden to China for scientific discoveries and biomedical research in 2025

With what he's trying to do to our universities that is truth, long before they are 90. Where do people think most new technologies, discoveries come from?
"While both colleges and corporations play significant roles in technological advancements, universities are often the primary source of groundbreaking discoveries and innovations. Universities produce top-tier academic researchers whose innovations can be the basis for life-changing technologies, such as cures for diseases, energy solutions, and improved food ecosystems. "
Universities provide the spark, corporations make them a product. All these research and grant cuts are a big negative. It does one thing: Dumbing down your voters.

The only bright spot is that today’s newborns, when they are 90, will be able to easily remember who turned the USA into a third world debtor nation, beholden to China for scientific discoveries and biomedical research in 2025

Right on time. DJT says EU not cooperating so 50% tariff on them. And, because APPL wont build iphones in US they get 25%.
Markets down 1 to 3%.

I love tariff even MAGA leader (DT) doesn't know what it is - he said first exporting countries will pay just like cost of MAGA wall south of the border to be paid by Mexico. His MAGA followers don't either. But when Walmart came out (it's import tax, we need to pass some of it to consumers), DT wailed - WM needs to eat the cost means we share holders. But for me, Tariff costs is much less (I bought a car, all major appliances etc. in the last 6-12 months so I am set) than the tax breaks I will get from Beautiful bill (sorry Medicaid recipients). I went to Costco yesterday to buy a window AC, it was made in China, cost was same as before 30% tariff, I was in hog heaven. On China, DT blinked - tariff 145% to 30%. So we pay 30% on imports from China and China consumers only pay 10% on American imports - China got a better deal.

Thanks for the link. Pieces on the Kitces site are always worth a read. I'm planning to read it in full over the next couple of days.
Meanwhile, I see that the exec summary is already out of date:

It also creates a new type of savings account for children – Money Account for Growth and Advancement, or "MAGA" accounts – which the Federal government would automatically open and fund with $1,000 for every US citizen born from 2025 through 2028!

From CNBC:

Under the proposal, “Trump Accounts” — previously known as “Money Accounts for Growth and Advancement” or “MAGA Accounts” — can later be used for education expenses or credentials, the down payment on a first home or as capital to start a small business.

https://www.cnbc.com/2025/05/22/tax-bill-maga-baby-bonus-now-called-trump-accounts-who-is-eligible.html
Here are some other last minute changes that were dropped into the bill:
https://www.politico.com/live-updates/2025/05/21/congress/trump-megabill-last-minute-changes-00364603

I was wondering what orange-tinted drama would take place over the weekend ... he's apparently starting early so as not to interrupt his latest golf outing -- the Tariff Toddler just threatened 50% tariff on EU goods and 25% on Apple products.
Guess he really wants to distract folks from asking questions about his crypto grifter orgy last night?

Kitces article on the proposed Federal Tax changes:
Here's one:

proposed-tax-bill-2025-tax-cuts-and-jobs-act-tcja-sunset-salt-deduction-cap-child-tax-credit-qbi-deduction-maga

direr than the usual:
https://heathercoxrichardson.substack.com/p/may-22-2025?utm_source=post-email-title&publication_id=20533&post_id=164216050&utm_campaign=email-post-title&isFreemail=true&r=tcpky&triedRedirect=true&utm_medium=email

https://www.sec.gov/Archives/edgar/data/1655589/000174177325002037/c497.htm
497 1 c497.htm ETF5 P1 0525
ETF5-P1 05/25
FRANKLIN TEMPLETON ETF TRUST
SUPPLEMENT DATED MAY 22, 2025
TO THE SUMMARY PROSPECTUS, PROSPECTUS AND
STATEMENT OF ADDITIONAL INFORMATION (“SAI”)
DATED AUGUST 1, 2024, OF
FRANKLIN FTSE HONG KONG ETF
On May 21, 2025, the Board of Trustees of Franklin Templeton ETF Trust, on behalf of the Franklin FTSE Hong Kong ETF (the “Fund”), approved a proposal to liquidate and dissolve the Fund. The liquidation is anticipated to occur on or about July 8, 2025.
After the close of business on June 10, 2025, the Fund will no longer accept creation orders. Trading in the Fund on NYSE Arca, Inc. (NYSE Arca) will be halted prior to market open on July 2, 2025. Proceeds of the liquidation are currently scheduled to be sent to shareholders on or about July 8, 2025.
When the Fund is in the process of liquidating its portfolio, which is anticipated to commence prior to July 2, 2025, the Fund will hold cash and securities that may not be consistent with the Fund’s investment goal and strategies.
Shareholders may sell their shares of the Fund on NYSE Arca until the market close on July 1, 2025 and may incur the usual and customary brokerage commissions associated with the sale of Fund shares. The Fund’s shares will no longer trade on NYSE Arca after market close on July 1, 2025, and the shares will be subsequently delisted. At the time the liquidation of the Fund is complete, shares of the Fund will be individually redeemed. Shareholders who do not sell their shares of the Fund before market close on July 1, 2025 will receive cash equal to the amount of the net asset value of their shares, which will include any capital gains and dividends, on or about July 8, 2025.
For those shareholders with taxable accounts and for Federal, state and local income tax purposes: (a) any liquidation proceeds paid to such shareholder should generally be treated as received by such shareholder in exchange for the shareholder’s shares and the shareholder will therefore generally recognize a taxable gain or loss; and (b) in connection with the liquidation, the Fund may declare taxable distributions of its income and/or capital gain. Shareholders should consult their tax advisers regarding the effect of the Fund’s liquidation in light of their individual circumstances.
Please retain this supplement for future reference.

https://www.sec.gov/Archives/edgar/data/1645194/000119312525125030/d820618d497.htm
497 1 d820618d497.htm 497
VGOF-P5 05/25
LEGG MASON ETF INVESTMENT TRUST
SUPPLEMENT DATED MAY 22, 2025
TO THE SUMMARY PROSPECTUS, PROSPECTUS AND
STATEMENT OF ADDITIONAL INFORMATION
EACH DATED AUGUST 1, 2024 OF
WESTERN ASSET SHORT DURATION INCOME ETF AND
WESTERN ASSET TOTAL RETURN ETF
On May 21, 2025, the Board of Trustees of Legg Mason ETF Investment Trust, on behalf of the Western Asset Short Duration Income ETF and Western Asset Total Return ETF (each a “Fund” and together, the Funds”), approved a proposal to liquidate and dissolve the Funds. The liquidation is anticipated to occur on or about August 29, 2025.
After the close of business on August 1, 2025, the Funds will no longer accept creation orders. Trading in the Funds on NASDAQ will be halted prior to market open on August 23, 2025. Proceeds of the liquidation are currently scheduled to be sent to shareholders on or about August 29, 2025.
When the Funds are in the process of liquidating their portfolios, which is anticipated to commence prior to August 23, 2025, the Funds will hold cash and securities that may not be consistent with the Funds’ investment objectives and strategies.
Shareholders may sell their shares of a Fund on NASDAQ until the market close on August 22, 2025 and may incur the usual and customary brokerage commissions associated with the sale of Fund shares. The Funds’ shares will no longer trade on NASDAQ after market close on August 22, 2025, and the shares will be subsequently delisted. At the time the liquidation of the Funds is complete, shares of the Funds will be individually redeemed. Shareholders who do not sell their shares of a Fund before market close on August 22, 2025 will receive cash equal to the amount of the net asset value of their shares, which will include any capital gains and dividends, on or about August 29, 2025.
For those shareholders with taxable accounts and for Federal, state and local income tax purposes: (a) any liquidation proceeds paid to such shareholder should generally be treated as received by such shareholder in exchange for the shareholder’s shares and the shareholder will therefore generally recognize a taxable gain or loss; and (b) in connection with the liquidation, a Fund may declare taxable distributions of its income and/or capital gain. Shareholders should consult their tax advisers regarding the effect of a Fund’s liquidation in light of their individual circumstances.
Please retain this supplement for future reference.
2

Evidently in this proposed "budget" is also a section which is designed to limit the power of federal judges to hold people in contempt, potentially shielding President Trump and members of his administration from the consequences of violating court orders.

The sprawling domestic policy bill Republicans pushed through the House on Thursday would limit the power of federal judges to hold people in contempt, potentially shielding President Trump and members of his administration from the consequences of violating court orders.
Republicans tucked the provision into the tax and spending cut bill at a time when they have moved aggressively to curb the power of federal courts to issue injunctions blocking Mr. Trump’s executive actions. It comes as federal judges have opened inquiries about whether to hold the Trump administration in contempt for violating their orders in cases related to its aggressive deportation efforts.
It is not clear whether the provision can survive under special procedures Republicans are using to push the legislation through Congress on a simple majority vote. Such bills must comply with strict rules that require that all of their components have a direct effect on federal revenues.
But by including it, Republicans were seeking to use their major policy bill to weaken federal judges. Under the rules that govern civil lawsuits in the federal courts, federal judges are supposed to order a bond from a person seeking a temporary restraining order or a preliminary injunction.

Free (hopefully) link to NY Times report.

https://www.nbcnews.com/politics/congress/trump-bill-house-republicans-pass-what-know-rcna208488
A debt limit hike
"The bill is projected by the CBO to add $2.3 trillion to the federal deficit over 10 years, with the tax breaks and new expenditures far outweighing the savings.
It also raises the debt ceiling by $4 trillion ahead of a summer deadline announced by the Treasury Department for Congress to act or risk a catastrophic default. "
Oh, and he wants his name on the tax accounts for Children for which folks receive a lousy $1K (bold added):
Trump accounts
"The measure creates new tax-preferred savings accounts for children that the federal government seeds with a $1,000 deposit. Parents could then contribute an additional $5,000 annually until the child is 18. The money can be used for educational purposes, for a down payment for a home or to start a small business.
The original version of House Republicans' legislation called them "MAGA" accounts, but after an eleventh-hour amendment, they were renamed 'Trump" accounts."

Bought the 10-yr 2035 TIPS reopening for both of our IRAs.

Thanks @Old_Joe
Watching the Senate now, eh?
I'll add this for now for whomever one may consider the words apply to; today, in 6 months or 2 years or ???
CRAZY