Trump advocates for removal of debt ceiling, criticizes recent funding deal

investing.com 19/12/2024 - 14:22 PM

Trump Urges Congress to Abolish Debt Ceiling

President-elect Donald Trump has urged Congress to abolish the debt ceiling, calling it a meaningless concept. In a phone interview with NBC News on Thursday, Trump stated that eliminating the debt ceiling would be a smart move he would fully support.

Trump conveyed that if Democrats are keen on removing it, he would lead the effort. He suggested the implications of breaching the debt ceiling are uncertain, ranging from catastrophic to inconsequential, and emphasized the desire to avoid discovering the consequences.

Regarding a potential government shutdown, Trump claimed it would commence under a Democratic president. He implied that the current conflicts in Congress are necessary to pave the way for his administration, starting in January.

When asked about his confidence in House Speaker Mike Johnson, Trump responded noncommittally with, "We'll see." He disapproved of a recent funding deal, labeling it a "Democrat trap" and unacceptable in many ways, as part of the Speaker's continuing resolution.

Before Elon Musk, the owner of X, posted on Wednesday, Trump discussed the short-term funding deal with him, encouraging Musk to release a statement if he agreed with his perspective. According to Trump, Musk is evaluating the situation from a cost standpoint, and their views align closely.

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