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.
What is happening here?
The Trump admin is about to hand out trillions of dollars of public money to friends and donors. If the deficit doesn’t quadruple over Trump’s previous administration I’ll be surprised
What do you think is better or worse for China and Russia?:
The US government stopping all work for a period of time until the debt reconciliation is handled in law?
The US Government absolutely stopping ALL work because Trump wants to suddenly be self-sufficient?
The US Dollar losing it’s stance as the global stable currency?
The US absolutely crumbling when everything just stops.
Which fucking option are you not super clear about being on the table right now?
Isn’t it obvious?
Of course. It’s why he’s not laughing.
In all seriousness, if people are wondering, 25% of our total national debt is a result of Trump’s first term in office, largely due to his tax cuts for the wealthy. Eliminating the debt celiing means he can push through tax cuts so large that it’ll make the first round look like a kid shaking out a piggy bank by comparison, and basically just stick future taxpayers with the bill.