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.
He’s actually right here, even if it’s for self-serving purposes. The debt ceiling should have been eliminated years ago.
I agree in principle but abolishing it under a Republican administration is a recipe for tens of trillions handed out to Republican allies with the bill left to the next Democrat admin to clean up. I’d rather we didn’t do this right now, it’s almost guaranteed to lead to absurdly corrupt and wasteful spending that could otherwise fund social programs we desperately need (like single payer healthcare) during a less corrupt administration.
This was going to happen anyway. It’s not like any of them are going to care about little things like rules, laws, or ethics.
While I’d want you to be right in your concerns, in practice the only hiccup ever encountered with the debt ceiling is when they want to screw over Democrats. Otherwise they never blink at raising it, making it a fairly ineffective guard against over borrowing.
Yes, this. Even someone as stupid as donvict gets it right sometimes.
Remember when conservatives were conservative?
Nah, me neither.
It’s always been a veneer over the drive to deny public spending that would benefit poor, brown or non Christians
Quick close all the public pools, it saves money!
Who needs public schools when we can replace them with income based vouchers to allow parents to send their kids to private religious schools?
If you look at Canada at both the federal and provincial level, the party that has the least deficits on record is… The NDP, the center left option.
Removing the debt ceiling would allow them to transfer unlimited money to the wealthy at the expense of the future of the country.
It still needs to be appropriated to be spent. The debt ceiling is useless.
No, you don’t understand. Trump has promised to do away with regulation to reduce consumer protection and increase profits. The wealthy are going to loot the US while destroying it then hope that the poor don’t murder them and take everything back.
They see the end, they want to make the transfer fast.
…Let it burn.
How would Republicans hold budget negotiations hostage without it? Shutdown threats are their primary playbook…
Who says they plan to negotiate again?
The fact that they have intra-party disagreements about the budget.
We’ve already established that presidential actions are above reproach, so when republican lawmakers start being arrested for treason for questioning trump, the rest will fall in line quickly.
Why would they need to negotiate? They won. What’s left to stand in the way? Law? Decorum? International reputation?
But what will they cudgel the next Democratic administration over? Oh, I know! They’ll push legislation to eliminate the debt ceiling for 4 years and then bring it back at the level of the current debt.
They don’t plan on any transition of power. Therefore they won’t need to use it against Democrats, and don’t want it used against them. It’s only in their way now.
They figured out that they can just attack democrats from the left with online trolls.
They ain’t figured shit out. Their puppet master did.
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
I’d laugh if it wasn’t so obvious what is happening here.
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?:
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The US government stopping all work for a period of time until the debt reconciliation is handled in law?
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The US Government absolutely stopping ALL work because Trump wants to suddenly be self-sufficient?
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The US Dollar losing it’s stance as the global stable currency?
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The US absolutely crumbling when everything just stops.
Which fucking option are you not super clear about being on the table right now?
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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.
I don’t want a government shutdown. I don’t want more expensive subsidies for corn. I don’t care about NFL stadiums. I do want the disaster relief. I am ambivalent on the other farm aid because on one hand most of that money goes to big ag who does not need it but on the other hand small farmers depend on that money too. I think the concept of a debt ceiling is dumb in our current economy and I would like it abolished.
That being said. There is time to eliminate the debt ceiling without shutting down the government. The government needs to be funded. Fund the government, help those poor people smacked by storms then get rid of the debt ceiling.
I doubt Johnson can get this done in time. Hopefully Musk emailed Johnson some draft legislation with his marching orders. As it stands now a foreign born billionaire is threatening members of congress and appears to be dictating policy. This makes me sad.
Its kinda pointless since they just raise it every time they hit it
Don’t correct your enemy lmao even when I agree with him he’s somehow wrong and an idiot. Glorious.
rare sensible thing. the debt ceiling happens after congress votes on a budget.
