You’ll notice a name change in your inbox and at the top of today’s issue. We’re now Trump’s Playbook - The Rundown.

Why? Well, the election’s over! Trump won in grand fashion. No longer are we focused on the election season news, as all eyes are now on Trump’s plans for his second administration.

Policy battles, market implications, geopolitical consequences and holding the mainstream media accountable — all these topics remain our daily beat here at Trump’s Playbook.

Plus, for example, we’ll provide context on Elon Musk’s DOGE (Department of Government Efficiency) plans and what they mean for you.

Because never before in American history have the world’s richest man (Musk) and the world’s most powerful man (Trump) teamed up like this.

Thanks for reading and for your attention. We do not take it for granted! Now, today’s issue…

Your Rundown for Friday, December 20, 2024...

Johnson’s Spending Bill Stirs Backlash

House Speaker Mike Johnson is in hot water as he grapples with a brewing conservative revolt over a last-minute spending bill designed to keep the government funded until March.

The proposed 1,500-page bill included significant disaster relief and even pay raises for Congress members.

But Johnson had promised to steer clear of such bloated end-of-year spending packages that have historically angered the party's right flank.

Late Thursday night, the bill was killed: “The final vote was 235 members voting against the bill and 174 voting in favor — with 38 Republicans voting against the measure and two Democrats voting in support,” Axios reports.

Today, Johnson finds himself at the center of controversy that could define his tenure, threatening his leadership and the stability of the House.

Adding to the drama, President-elect Trump and billionaire Elon Musk publicly condemned the bill, with Musk urging lawmakers to reject it entirely.

Their influence amplified opposition within the GOP, leaving Johnson scrambling to maintain support as he now prepares for a crucial Speaker vote on January 3rd.

• In a surprise twist, Trump called for the elimination of the debt ceiling, arguing that it would be “the smartest thing” Congress could do.

“Trump suggested that the debt ceiling” — now set at $31.46 trillion — “is a meaningless concept — and that no one knows for sure what would happen if it were to someday be breached,” says CNBC.

“It doesn’t mean anything,” Trump says, “except psychologically.”

At the same time, he claims, since some Democrats in Congress agree with his debt ceiling sentiments, its increase should happen under “Biden’s watch.” Not Trump’s.

So, does Trump subscribe to Modern Monetary Theory (MMT)?

(The economic framework which asserts that governments issuing their own fiat currency can spend freely without financial constraints — limited only by inflation plus full employment.)

While Trump's call to eliminate the debt ceiling shares some surface-level similarities with MMT, his approach appears more focused on short-term political and economic considerations.

Perhaps the most shocking idea to emerge from this entire episode is Sen. Rand Paul (R-KY) suggesting Elon Musk become House Speaker. “The Speaker of the House need not be a member of Congress,” he notes.

“Nothing would disrupt the swamp more than electing Elon Musk . . . think about it,” he adds.

Market Rundown for Friday, Dec. 20, 2024

S&P 500 futures are down 0.90% to 5,880.

Oil is down 0.35% to $69.14 for a barrel of West Texas crude.

Gold is up 0.35% to $2,617.20 per ounce.

Bitcoin has lost almost 2%; it’s just under $95K at the time of writing.