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Monday, May 29, 2023
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Good morning! Today is Memorial Day, and the team at The Flyover is grateful for the American soldiers who’ve died while serving their country. From the Pacific to the Atlantic, we’re all thankful for their sacrifice.
In today’s edition, we’re talking about the deal struck between President Biden and Speaker McCarthy to raise the debt ceiling, another victory for Turkish President Recep Tayyip Erdoğan, and State Farm’s decision to stop providing home & business insurance in the state of California.
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Enjoying the Flyover? Take a moment to check out today’s sponsor, Snake River Farms.
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Biden, McCarthy Reach Debt Agreement
President Biden and Speaker McCarthy have struck a deal to raise the debt ceiling and avoid a first-ever national default.
Now, they need the House and the Senate to sign off on the deal. That may not be easy, given the anger on the flanks of each party. McCarthy said privately that the Democrats “got nothing” in the deal, but conservatives like Chip Roy disagree and are ready to vote no.
Despite this, McCarthy seems confident that he can get the bill through the House. Senate minority leader Mitch McConnell has already urged his colleagues to “act swiftly and pass this agreement without unnecessary delay.”
The agreement includes a raised debt ceiling over the next two years, tougher work requirements for government aid, a reduced budget for the IRS, and a pullback of $30 billion in unused Covid relief money.
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Turkey’s Strongman Stays in Power
Turkey’s Recep Erdoğan has won a third term as president.
He failed to win more than fifty percent of support in the initial voting round, facing tough opposition from Kemal Kılıçdaroğlu—a soft-spoken, center-left candidate who vowed to reverse Turkey’s march away from democracy. Erdoğan overcame his nation’s frustration over a slumping economy and fallout from devastating earthquakes; he prevailed by four percent in runoff voting Sunday.
After surviving a failed coup in 2016, Erdoğan oversaw a transition from a parliamentary system to an executive presidential form of government, and he centralized power into his own hands. He’s cracked down on political dissidence, and now he has another five years to take the country further down his own road.
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Like a Good Neighbor? Not in California.
State Farm will no longer issue home or business insurance in the state of California. The company’s statement said that “rapidly growing catastrophe exposure” is its primary reason to stop doing business in the nation’s most populous state—an ambiguous term that may hint at more than the billions of dollars lost to fires and floods in recent years.
Retail vandalism has skyrocketed in cities like San Francisco and Los Angeles, and the cost of the insurance claims may be getting passed on to consumers by the state-level ban.
Rising construction costs and inflation were also cited by the company as business killers in California.
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➤ Ron DeSantis wants to get rid of the IRS. During an interview, he called the organization “corrupt” and said we need something “totally different.” He also said the expansion of 87,000 IRS agents was essentially a “middle finger to the American public.” (More)
➤ Texas Attorney General Ken Paxton, a longtime Trump ally, has been impeached in the Texas state House. A report from an investigative committee accused Paxton of taking bribes and firing an employee who reported violations. Donald Trump has been critical of Governor Abbot’s silence on the issue, saying he’s “Missing in action.” (More)
➤ A school board in North Dakota is defying a law that requires it to reveal students’ professed gender identities to parents. The superintendent says the law could cause harm to children, and parents raged at a recent school board meeting: "Whose kids are these? Do they belong to you as a school board? Do they belong to Fargo Public Schools?” (More)
Flying together with Snake River Farms

Fun Fact: Memorial Day is the 2nd most popular day of the year for Americans to barbeque.
Is the meat you’re grilling today going to look as good as this? (Click here to see)
Today’s sponsor, Snake River Farms, is the pioneer of American Wagyu Beef. They’ve been family owned and operated for over 55 years and are involved in every step of the process from start to finish.
Whether you are a seasoned veteran or a beginner to beef, Snake River Farms has you covered. As Flyover Country Americans, no one appreciates high-quality meat more than us, so right now they are offering all Flyover readers $25 off on any purchase greater than $149 using the code SWAPSRF at checkout.
You haven’t tried beef until you have tried Wagyu, and you haven’t tried Wagyu until you have tried Snake River Farms—and it’s never too early to start planning your menu for the 4th of July (the most popular day for Americans to BBQ.)
Click here and check out all their incredible options today!
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➤ Josef Newgarden won the 2023 Indy 500. He managed to pass the defending champion in the final lap, winning in exciting fashion. The race’s most exciting moment, however, was the wreck that rocketed a deadly flying tire just over spectators’ heads. (Video)
➤ A high school baseball team thought it had won a state championship on a called third strike and began celebrating, but the ball touched the ground, and the catcher didn’t tag the runner—who followed his teammate around the bases and scored the winning run as chaos, anger, and confusion unfolded around him. (Watch)
➤ Guests at a wedding reception thought that the Miami Heat won Game 6 against the Celtics—they missed the Celtics’ tip-in with 0.2 seconds left and partied for quite a while before anyone realized the Heat lost. (Watch)
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Market Report Previous Week
▲ |
Nasdaq Natl. Assoc. of Securities Dealers Automated Quotations |
12,975.69 |
+2.19% |
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SPX S&P 500 |
4,205.45 |
+1.30% |
▲ |
DJI Dow Jones Industrial Average |
33,093.34 |
+1.00% |
▼ |
BTC Bitcoin |
27,971.0 |
–0.44% |
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MRVL Marvell Technology, Inc. |
65.51 |
+32.42% |
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➤ Airlines are attempting to make operations more efficient by using larger planes. The practice is known as “upgauging” and creates increased seat availability on fewer total flights. (More)
➤ Demand is rising year-over-year for teenage employees in summer jobs—as well as the hourly rates they’re earning. (More)
➤ The Turkish Lira sunk to record lows against the dollar after Erdoğan secured his election. (More)
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➤ China is banning purchases from United States’ largest chipmaker: Micron Technology. Chinese authorities are citing a failed security review, but American officials see it as a retaliation for a G7 push to stop China’s economic manipulation. (More)
➤ Nvidia’s CEO showed conference-goers in Taipei a demo of AI-driven video game characters that respond to unique, unplanned input from the player. (More)
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➤ An albino white Bison calf was born in a state park in Wyoming. They are extremely rare: about 1 in 10 million. (More)
➤ Rival biker gangs—the Banditos and Water Dogs—started a gunfight and killed three people at the Red River Memorial Day Motorcycle Rally in New Mexico. (More)
Flying together with Snake River Farms

Want to keep your Memorial Day barbeque going all summer long? Take a look at Snake River Farms for your next feast. Their high-quality meat is great for every occasion: Father’s Day, the 4th of July, or even a random Saturday afternoon cookout.
As a Flyover reader, you get $25 off on any purchase greater than $149 using the code SWAPSRF at checkout. Click here right now and shop delicious meats today!
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Daily Quote
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“If you can get five or six percent of what you were asking for, you take the deal and claim victory.”
– Rep. Ken Buck, mocking Kevin McCarthy’s debt ceiling dealing
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Today’s Trivia
What year did the first national observance of Memorial Day take place?
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Show me the
answer
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