Former President Trump expressed support for abolishing the debt ceiling, arguing it's a meaningless concept. He also called for increasing the debt ceiling despite it not being a part of the current bipartisan funding negotiations. Trump suggested that the current standoff in Congress is necessary to clear the decks before his potential administration in January.
In a phone interview with NBC News, Trump said getting rid of the debt ceiling entirely would be the “smartest thing it could do. I would support that entirely.”In a phone interview with NBC News, Trump said getting rid of the debt ceiling entirely would be the “smartest thing it could do. I would support that entirely.”
Trump suggested that the debt ceiling is a meaningless concept — and that no one knows for sure what would happen if it were to someday be breached — “a catastrophe, or meaningless” — and no one should want to find out. The debt ceiling is the limit lawmakers set that determines how much the federal government can borrow to pay its bills. It doesn’t authorize any new spending. On the possibility of a shutdown, which would occur at 12:01 a.m.
“I told him that if he agrees with me, that he could put out a statement,” Trump said. “He’s looking at things from a cost standpoint.” He described their views as in line and “very much on track.” Congress last raised the debt ceiling in June 2023, suspending it through Jan. 1, 2025. Typically, the Treasury Department is able to extend the deadline using so-called extraordinary measures to buy more time for lawmakers to address it. warning about the consequences of failing to lift it and defaulting on the nation's debt, saying that a default would"likely cause severe damage to the U.S. economy.
DONALD TRUMP DEBT CEILING GOVERNMENT FUNDING CONGRESS REPUBLICAN PARTY
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