President-elect Donald Trump has made a bold move by urging Congress to eliminate the debt ceiling, a decision that has sent shockwaves through Washington and caused a major shake-up in talks among lawmakers. The discussions have reached an impasse over federal spending and government funding, which is set to lapse this weekend.
While some members of Congress have pushed back against Trump’s demand, the president-elect has stood firm in his stance. He believes that lawmakers should reject any sweeping spending measure that includes “traps” set by Democrats and should abolish the debt limit before he takes office next year.
In a phone interview, Trump stated, “Number one, the debt ceiling should be thrown out entirely. Number two, a lot of the different things they thought they’d receive in a recently proposed spending deal are now going to be thrown out, 100%. And we’ll see what happens. We’ll see whether or not we have a closure during the Biden administration. But if it’s going to take place, it’s going to take place during Biden, not during Trump.”
These comments from Trump have forced negotiators from both parties to go back to the drawing board as the deadline for government funding approaches. His statements came after he criticized a bipartisan spending deal as “ridiculous and extraordinarily expensive” and insisted that any legislation to extend government funding should also address the debt limit.
Despite his strong stance, Trump has left room for House Speaker Mike Johnson and other top Republicans to come up with new options that he would find acceptable. When asked how he envisions the standoff ending, Trump simply stated, “It’s going to end in a number of ways that would be very good.”
Trump emphasized that the discussions are ongoing, and it is premature for him to provide more details on the final agreement. He expressed displeasure at the Democratic provisions in the initial bipartisan deal and vowed not to fall into any traps set by the “radical left, crazy Democrats.”
In a post on his Truth Social app, Trump reiterated his call for Congress to eliminate or extend the debt ceiling, possibly until 2029, before making any deals. He emphasized that the pressure is on whoever is President and that the debt ceiling issue must be addressed.
Elon Musk, the CEO of Tesla who supported Trump and other Republican candidates in the November elections, also opposed the initial bipartisan spending deal. Musk called it “terrible” and celebrated when House Speaker Johnson scrapped it, declaring, “The voice of the people has triumphed!”
Trump’s focus on the debt ceiling, which limits the federal government’s borrowing authority, has become a priority as he prepares to take office. He wants Congress to address the issue now so that he can focus on other matters during his term.
While the current debt ceiling is suspended until 2025, the Treasury Department can take steps to avoid default for a few months into next year. However, the government could face a dangerous default early next year if the debt ceiling is not extended or addressed by Congress.
When asked about Trump’s call to address the debt limit, Rep. Hakeem Jeffries of New York, the House Democratic leader, deemed the discussion premature at best.
Trump’s push to eliminate the debt ceiling has created a sense of urgency among lawmakers as they work to reach a new agreement on government funding. His determination to address this issue before taking office has set the stage for intense negotiations in the coming days.
As the deadline approaches, all eyes are on Congress to see how they will navigate this complex issue and reach a resolution that satisfies both parties. Trump’s bold move has set the stage for a high-stakes showdown that will shape the future of government spending and fiscal policy in the years to come.
