President-elect Donald Trump said in a phone interview with NBC News that Congress should abolish the debt ceiling.
Trump told the outlet that eliminating the debt ceiling is the “smartest thing” Congress could do.
“The Democrats have said they want to get rid of it. If they want to get rid of it, I would lead the charge,” Trump said. He noted the debt ceiling “doesn’t mean anything, except psychologically.”
The debt ceiling is the maximum amount of money the government can borrow to meet its obligations.
“Increasing the debt ceiling is not great but we’d rather do it on Biden’s watch,” Trump and Vice President-elect JD Vance said in a statement on social media pertaining to the failed spending bill. “If Democrats won’t cooperate on the debt ceiling now, what makes anyone think they would do it in June during our administration? Let’s have this debate now. And we should pass a streamlined spending bill that doesn’t give Chuck Schumer and the Democrats everything they want.”
“Republicans want to support our farmers, pay for disaster relief, and set our country up for success in 2025. The only way to do that is with a temporary funding bill WITHOUT DEMOCRAT GIVEAWAYS combined with an increase in the debt ceiling. Anything else is a betrayal of our country…”
Trump further told NBC News that House Speaker Mike Johnson’s continuing resolution was “unacceptable.” He called the resolution a “Democrat trap.”
Senator Elizabeth Warren (D-MA) came out in support of Trump’s proposal to eliminate the debt ceiling.
“I agree with President-elect Trump that Congress should terminate the debt limit and never again govern by hostage taking,” she wrote on X.
