President Donald Trump amplified his calls to abolish the U.S. debt limit Wednesday, saying it should be “entirely scrapped to prevent an Economic catastrophe.”
Trump is currently in negotiations with Senate Republicans regarding his tax package, which fiscal hawks warn will add trillions to the national deficit. Eliminating the debt limit, a position long backed by some Democrats, including Sen. Elizabeth Warren (D-MA), would lift the legal limits on how much the government can borrow to offset federal spending.
Republicans are scrambling to advance Trump’s “One Big Beautiful Bill” through the Senate after it was passed by the House late last month. The bill itself proposed raising the debt limit, as opposed to Trump’s proposal of eliminating it entirely, ahead of an estimated August deadline to address the issue before the U.S. government begins defaulting on its payments.
“I am very pleased to announce that, after all of these years, I agree with Senator Elizabeth Warren on SOMETHING. The Debt Limit should be entirely scrapped to prevent an Economic catastrophe. It is too devastating to be put in the hands of political people that may want to use it despite the horrendous effect it could have on our Country and, indirectly, even the World,” Trump posted on Truth Social. “Let’s get together, Republican and Democrat, and DO THIS!”
Trump previously floated during a December interview with NBC that Congress should eliminate the debt limit as lawmakers struggled at the time to pass a stopgap funding bill to prevent a government shutdown.
And again, last Friday, Trump told reporters in the Oval Office that he had “always agreed” with Warren on the issue.
“She wanted to see it terminated, gotten rid of, not being voted on every five years or 10 years, and the reason was because it’s so catastrophic for our country,” he explained.
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Trump’s comments earned the support of Warren, with one caveat.
“Let’s pass a bipartisan bill and get rid of it forever,” she posted on X. “But jacking up the debt limit by $4 trillion to fund more tax breaks for billionaires is an outrage.”