Trump wants to end the debt ceiling

The US is one of a small handful of countries that has a statutory limit on the federal debt. It used to be routine for Congress to raise the debt ceiling, but recently, House Republicans have been using the debt ceiling to extract political concessions from Democratic Administrations. While raising the debt ceiling wasn’t in the recent continuing resolution that Speaker Johnson was negotiating and co-president Elon Musk just torpedoed, it will be an issue shortly after Trump’s inauguration. That would interfere with his plans for tax cuts for the wealthy and for corporations. So according to the Guardian:

“Now, the president-elect has modified his demands, by telling NBC News in an interview that he wants the debt ceiling eliminated outright. “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 told the broadcaster.”

I say do it. Get rid of the debt ceiling once and for all and end the fiscal hostage taking.

https://x.com/GarrettHaake/status/1869744357886263420

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