Trump calls for abolishing the debt ceiling
Trump calls for abolishing the debt ceiling
In a phone interview with NBC News, Trump said getting rid of the debt ceiling entirely would be the “smartest thing it [Congress] could do. I would support that entirely.”
Summary
Donald Trump called for abolishing the debt ceiling, labeling it a "psychological" concept with no real purpose.
He criticized a bipartisan short-term funding deal, calling it a "Democrat trap," and signaled support for legislation to permanently end the debt ceiling.
Trump had previously raised the ceiling during his first term and floated its elimination. Some Democrats, including Sen. Elizabeth Warren, echoed support, citing the need to end "governing by hostage taking."
Trump’s stance reflects concerns over upcoming legislative challenges in his second term.
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I don't 100% disagree, but there needs to be a mechanism for pulling back those spending dollars through taxation of large corporations and the ultra wealthy otherwise you get more wealth consolidation and possible run away inflation.
i thought the cabinet of billionairres wantswealth consolidation
Right, they do, but it's also terrible for everyone who's not already a billionaire.
I think that is intended