President Trump's budget proposal contains sharp cuts to the State Department, the Arts, and the Environmental Protection Agency. The cuts in those departments will pay for increased spending on Defense and a more secure border. The proposal is already meeting meeting stiff opposition in Congress. Oracle (ORCL) shares are active and higher after beating earnings expectations. In the quarter, cloud software as a service and platform as a service revenue rose 73%. Oracle is mounting a transition from its database business to cloud computing and software as service. It looks like basketball fever has caught on this year. The American Gaming Association says Americans are expected to wager $10.4 billion on the NCAA men's basketball tournament this year, up from $9.2 billion in 2016. Only 3% of March Madness betting is legal.
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