Trump, Warren Push to Scrap US Debt Limit

President Donald Trump has publicly called for the complete elimination of the U.S. debt limit, aligning with Sen. Elizabeth Warren in an unusual bipartisan effort to avert an economic crisis. Both leaders argue the debt limit poses unacceptable risks due to potential political misuse, and urge Congress to remove it entirely. The Treasury Department has warned that Congress must act by mid-July to avoid a national default, intensifying market anxieties. Following Trump's statement, the S&P 500 and Nasdaq Composite dropped sharply, with the cryptocurrency market also experiencing a major sell-off. Trump expressed openness to Warren's proposal to increase the debt ceiling by $4 trillion if done quickly, though Warren criticized such an increase if it disproportionately benefits the wealthy. This cross-party initiative highlights the stakes and divisions in the debate over U.S. fiscal policy.