Trump Advocates for Abolishing Debt Ceiling

President-elect Donald Trump has expressed strong support for abolishing the federal debt ceiling, calling it psychologically meaningless during his NBC interview. He emphasized that eliminating the borrowing limit would be the 'smartest thing' Congress could do, a sentiment echoed by Sen. Elizabeth Warren, who stated that Congress should stop governing by 'hostage taking.' Trump's proposal comes amid ongoing tensions in Congress over a stopgap funding bill and the impending threat of a government shutdown. He and Vice President-elect JD Vance have criticized a spending bill previously negotiated by House Speaker Mike Johnson, insisting on raising the debt ceiling before President Biden's term ends. The debt ceiling, which was last raised in June 2023, is a contentious issue with differing views among Republicans, some of whom remain opposed to any increase. As the deadline approaches, the political landscape remains fraught with uncertainty regarding fiscal policy and government funding.