Let's bring in Joe Leavia, counselor to the Treasury Secretary to discuss this. Joe, uh, it's great to have you on to to kind of flesh this out a little bit. And I I guess first of all, most important I would be to get at what the drivers of this narrower deficit are and whether they're structural, whether they're durable, whether they're going to continue because I mean you hear things about obviously tariff revenue, uh pretty high capital gains tax collections and then some maybe foregone spending that ma ...

And for more on what's uh next for tech and AI, let's bring in Paul Meeks, head of technology research at Freedom Capital Markets. If you just add things up, Paul, it's just like really exciting. It's not all bees either.We we've talked in cheese with some of these things. What we asked Gersonner earlier today was sounds great. Um is the money going to be there that we're hearing about to build the energy for these data centers to to buy the chips.I mean, companies are giving each other money to buy things ...

Government Policy & Legislation - Passage of Trump's tax, health and spending bill was a significant achievement for Republicans [1] - Selling the bill to the American people may be challenging [1]

Policy Changes - The US House passed a $3.4 trillion fiscal package [1] - The package includes tax cuts and curtailed spending on safety-net programs [1] - The package reverses much of Joe Biden's clean-energy economy initiatives [1]

Fiscal Policy & Debt Management - A large debt/dollar crisis can be prevented by cutting the budget deficit to approximately 3% of GDP [1] - A mix of tax revenue increases and spending decreases is required to sustainably deal with the deficit/debt problem [1] - A balanced approach, such as a 4% increase in tax revenue and a 4% spending cut, would improve the supply/demand balance for US debt [1] - Lower interest rates, resulting from the improved debt supply/demand balance, would help reduce the budget deficit and benefit markets and the economy [1] Political Challenges - Political promises of "no tax increases" and "no benefit cuts" are inconsistent with the need to reduce the budget deficit [1] - Political absolutism prevents representatives from pursuing a balanced approach to deficit reduction [1]