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.
Trump: end the debt ceiling
Only Nixon could go to China, and only Trump can end the debt ceiling ?
Watch how Republican Senators, congress people, pundits, and voters turn on a dime to not caring about the debt ceiling or about the debt. And support another tax cut for corporations & billionaires.
What a wacky country we live in.
The Democrats should definitely take him up on it.
I’m not so sure that the Democrats should take him up on it. The Democrats were able to use the debt ceiling to their advantage in 2017.
Looking to the future, how do Democrats take back control of the US Senate? The last of the red state holdouts are now gone, Manchin, Sherrod Brown, Jon Tester. The Republicans go into 2025 with 53 Senators. Besides Maine, what other states do Democrats have a chance for a pickup. The Republicans have total control of state legislatures in 28 states. That would translate to a minimum of 56 US Senate seats.
Post-Election: Republicans Add to Strong Hold of State Governments | MultiState
Given these state dynamics, why would it help the Democrats to get rid of the debt ceiling. If they are going to be a party out of power for the foreseeable future, they might consider holding on to any parliamentary tool they can use.
Trump wants to end the debt ceiling so that he can push through massive high end tax cuts. He is currently constrained by the budget reconciliation rules and the debt ceiling.
Well, what if the Democrats manage to take back the Presidency and maybe the House in 28? Even then, with the Senate locked in, there will be no Democratic agenda getting through. So having a debt ceiling or not doesn’t mean much at that point.
Trump will also want to get rid of the filibuster. Should Democrats go along with that too?
@Jim,
“He is currently constrained by the budget reconciliation rules and the debt ceiling.”
No, he is not. The budget ceiling will be raised. It always is. Having a debt ceiling or not has never meant anything. Let’s drop the pretense.
As for the Senate, (a) the party in power always loses seats in the midterms, and (b) the political landscape will likely be very different if Trump is successful with his tariffs and deportations.
The ceiling is always raised but usually only after concessions by the party in power.
@Jack,
That’s what I meant by “hostage-taking.”
I think, historically, it’s more often used advantageously by the Republicans to prevent Democratic initiatives.
If I read the news correctly Trump wants to remove all provisions that were negotiated by democrats but still be able to later claim that the limit was raised while democrats were in power.
That’s what I thought too until I read the report of the interview with NBC.
If only Trump wanted a single-payer health insurance system.
Trump wants his programs at the expense of Dem and social programs.