Utopia Talk - Politics - Trump: Abolish the debt ceiling

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Utopia Talk / Politics / Trump: Abolish the debt ceiling

murder
Member Thu Dec 19 10:26:22
Trump calls for abolishing the debt ceiling

In a phone interview with NBC News, Trump said getting rid of the debt ceiling entirely would be the “smartest thing it [Congress] could do. I would support that entirely.”

President-elect Donald Trump said Thursday that Congress should get rid of the debt ceiling, a day after he came out against a deal reached by congressional lawmakers to fund the government before a shutdown occurs.

In a phone interview with NBC News, Trump said getting rid of the debt ceiling entirely would be the “smartest thing it [Congress] could do. I would support that entirely.”

“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 added.

Trump suggested that the debt ceiling is a meaningless concept — and that no one knows for sure what would happen if it were to someday be breached — “a catastrophe, or meaningless” — and no one should want to find out.

“It doesn’t mean anything, except psychologically,” he said.

The debt ceiling is the limit lawmakers set that determines how much the federal government can borrow to pay its bills. It doesn’t authorize any new spending.

On the possibility of a shutdown, which would occur at 12:01 a.m. Saturday if a funding deal isn't reached, he said, “If there’s going to be a shutdown, we’re going to start it with a Democratic president” — suggesting that the fight playing out in Congress now is necessary to clear the decks before his administration begins in January.

Asked if he still has confidence in House Speaker Mike Johnson, R-La., Trump responded: “We’ll see. [The funding deal] they had yesterday was unacceptable,” referring to the speaker’s continuing resolution. “In many ways it was unacceptable. It's a Democrat trap.”

Trump said he had discussed his views on the short-term funding deal with Elon Musk prior to the X owner's posts Wednesday.

“I told him that if he agrees with me, that he could put out a statement,” Trump said. “He’s looking at things from a cost standpoint.” He described their views as in line and “very much on track.”

In his call Wednesday for Republicans to ditch the negotiated bipartisan short-term spending bill, Trump also demanded that lawmakers increase the debt ceiling — something that hadn't been on the table at all.

Congress last raised the debt ceiling in June 2023, suspending it through Jan. 1, 2025. Typically, the Treasury Department is able to extend the deadline using so-called extraordinary measures to buy more time for lawmakers to address it.

Before lawmakers passed the last increase, the White House released a statement warning about the consequences of failing to lift it and defaulting on the nation's debt, saying that a default would "likely cause severe damage to the U.S. economy." The statement said that analyses by the Council of Economic Advisers and outside researchers showed that if the government defaults on its obligations, "the economy would quickly shift into reverse, with the depth of the losses a function of how long the breach lasted."

During Trump’s first term in office, he signed legislation three times to lift the ceilings. He had also floated the idea of eliminating the debt ceiling when he was in the White House.

Some Democrats have voiced support for getting rid of it in recent years.

Rep. Brendan Boyle, D-Pa., the ranking member of the Budget Committee, has been leading the charge with legislation called the Debt Ceiling Reform Act that would diminish Congress’ ability to use the threat of default as a tactic in legislative negotiations. He introduced it in 2023 with Sen. Dick Durbin, D-Ill., who unveiled a companion bill in the Senate.

The House bill has 55 co-sponsors, all Democrats, including former House Speaker Nancy Pelosi.

Boyle told NBC News that “the only way” House Democrats should “vote to raise the debt ceiling under Trump is if we have a permanent elimination” of it — or a reform to largely nullify it, like his bill, which would give the president the power to lift the debt ceiling unless Congress overrides him.

He kept the door open to considering it as part of a government funding bill. “As for including this in the CR, I’d have to consider all of the other issues involved,” Boyle said.

Sen. Elizabeth Warren, D-Mass., also posted on social media Thursday morning that she agreed with Trump's call to abolish the debt ceiling.

"I agree with President-elect Trump that Congress should terminate the debt limit and never again govern by hostage taking," she wrote.

The president-elect appears to be recognizing the legislative traffic jam that awaits him in the first year of his second term: another round of government funding, a debt limit hike and plans to advance major party-line bills on immigration and taxes, in addition to confirming his administration personnel through the Senate.

http://www...ishing-debt-ceiling-rcna184820

murder
Member Thu Dec 19 10:27:37

Of course it's before noon on a Thursday, so it could mean something or he may do a 180 degree turn by 6 pm. lol :o)

-

tumbleweed
the wanderer Thu Dec 19 11:09:34
no, he will stick to this position... completely reversing opinion now that he will have to deal with it

(plus he didn't even pretend to run on fiscal responsibility this time... it -was- the #1 R issue since my entire life, but that party is dead, now just the cult of Trump & his 'all rules can be suspended when i say so' belief)

murder
Member Thu Dec 19 11:25:07

He established an entire imaginary department to cut government spending.

This is going to make Elon mad. :o)

tumbleweed
the wanderer Thu Dec 19 13:21:00
yeah, -Elon- came up w/ the DOGE & bought his way into the administration... Trump wasn't running on it & even cut fiscal responsibility out of the R platform

jergul
large member Thu Dec 19 13:26:01
You can do both. Cut the Federal budget massively and still need to increase Federal debt levels.

tumbleweed
the wanderer Thu Dec 19 15:07:58
moron who likely knows nothing about what he's talking about here (as usual):
"
SUCCESS in Washington!

Speaker Mike Johnson and the House have come to a very good Deal for the American People. The newly agreed to American Relief Act of 2024 will keep the Government open, fund our Great Farmers and others, and provide relief for those severely impacted by the devastating hurricanes.

A VERY important piece, VITAL to the America First Agenda, was added as well - The date of the very unnecessary Debt Ceiling will be pushed out two years, to January 30, 2027. Now we can Make America Great Again, very quickly, which is what the People gave us a mandate to accomplish.

All Republicans, and even the Democrats, should do what is best for our Country, and vote “YES” for this Bill, TONIGHT!
"
----------

"The date of the very unnecessary Debt Ceiling will be pushed out two years, to January 30, 2027"

^is probably the only thing he knows about... conveniently moved to after the midterms

murder
Member Thu Dec 19 19:47:24

It sounds like he's planning to explode spending "very quickly".

tumbleweed
the wanderer Fri Dec 20 10:11:13
our dear leader going further:
"
Congress must get rid of, or extend out to, perhaps, 2029, the ridiculous Debt Ceiling. Without this, we should never make a deal. Remember, the pressure is on whoever is President.
"

let's see if he can get R's to abandon another core principle

i wonder where 2029 came from... so hard to figure...

kargen
Member Fri Dec 20 13:59:08
Tumbleweed until very recently the Democrats wanted to remove the debt ceiling. Because of Democrats efforts in 2022 we effectively do not have a debt ceiling now. It was suspended in 2023 and when enacted again it will be raised to whatever the debt is at the time.

Paramount
Member Fri Dec 20 14:17:15
What is the point of a debt ceiling if you are going to raise it every time you reach it?

It is also more fun to spend money than not to.

So, just abolish the ceiling.

kargen
Member Fri Dec 20 16:24:18
There is no point and never has been. It is something they can use to try and scare citizens into letting them attach unrelated items to a spending bill thinking there is some urgency in getting it done.
Oh shit we are about to default on our loan we better ban coal and increase our limit.

show deleted posts

murder Member	Thu Dec 19 10:26:22 Trump calls for abolishing the debt ceiling In a phone interview with NBC News, Trump said getting rid of the debt ceiling entirely would be the “smartest thing it [Congress] could do. I would support that entirely.” President-elect Donald Trump said Thursday that Congress should get rid of the debt ceiling, a day after he came out against a deal reached by congressional lawmakers to fund the government before a shutdown occurs. In a phone interview with NBC News, Trump said getting rid of the debt ceiling entirely would be the “smartest thing it [Congress] could do. I would support that entirely.” “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 added. Trump suggested that the debt ceiling is a meaningless concept — and that no one knows for sure what would happen if it were to someday be breached — “a catastrophe, or meaningless” — and no one should want to find out. “It doesn’t mean anything, except psychologically,” he said. The debt ceiling is the limit lawmakers set that determines how much the federal government can borrow to pay its bills. It doesn’t authorize any new spending. On the possibility of a shutdown, which would occur at 12:01 a.m. Saturday if a funding deal isn't reached, he said, “If there’s going to be a shutdown, we’re going to start it with a Democratic president” — suggesting that the fight playing out in Congress now is necessary to clear the decks before his administration begins in January. Asked if he still has confidence in House Speaker Mike Johnson, R-La., Trump responded: “We’ll see. [The funding deal] they had yesterday was unacceptable,” referring to the speaker’s continuing resolution. “In many ways it was unacceptable. It's a Democrat trap.” Trump said he had discussed his views on the short-term funding deal with Elon Musk prior to the X owner's posts Wednesday. “I told him that if he agrees with me, that he could put out a statement,” Trump said. “He’s looking at things from a cost standpoint.” He described their views as in line and “very much on track.” In his call Wednesday for Republicans to ditch the negotiated bipartisan short-term spending bill, Trump also demanded that lawmakers increase the debt ceiling — something that hadn't been on the table at all. Congress last raised the debt ceiling in June 2023, suspending it through Jan. 1, 2025. Typically, the Treasury Department is able to extend the deadline using so-called extraordinary measures to buy more time for lawmakers to address it. Before lawmakers passed the last increase, the White House released a statement warning about the consequences of failing to lift it and defaulting on the nation's debt, saying that a default would "likely cause severe damage to the U.S. economy." The statement said that analyses by the Council of Economic Advisers and outside researchers showed that if the government defaults on its obligations, "the economy would quickly shift into reverse, with the depth of the losses a function of how long the breach lasted." During Trump’s first term in office, he signed legislation three times to lift the ceilings. He had also floated the idea of eliminating the debt ceiling when he was in the White House. Some Democrats have voiced support for getting rid of it in recent years. Rep. Brendan Boyle, D-Pa., the ranking member of the Budget Committee, has been leading the charge with legislation called the Debt Ceiling Reform Act that would diminish Congress’ ability to use the threat of default as a tactic in legislative negotiations. He introduced it in 2023 with Sen. Dick Durbin, D-Ill., who unveiled a companion bill in the Senate. The House bill has 55 co-sponsors, all Democrats, including former House Speaker Nancy Pelosi. Boyle told NBC News that “the only way” House Democrats should “vote to raise the debt ceiling under Trump is if we have a permanent elimination” of it — or a reform to largely nullify it, like his bill, which would give the president the power to lift the debt ceiling unless Congress overrides him. He kept the door open to considering it as part of a government funding bill. “As for including this in the CR, I’d have to consider all of the other issues involved,” Boyle said. Sen. Elizabeth Warren, D-Mass., also posted on social media Thursday morning that she agreed with Trump's call to abolish the debt ceiling. "I agree with President-elect Trump that Congress should terminate the debt limit and never again govern by hostage taking," she wrote. The president-elect appears to be recognizing the legislative traffic jam that awaits him in the first year of his second term: another round of government funding, a debt limit hike and plans to advance major party-line bills on immigration and taxes, in addition to confirming his administration personnel through the Senate. http://www...ishing-debt-ceiling-rcna184820
murder Member	Thu Dec 19 10:27:37 Of course it's before noon on a Thursday, so it could mean something or he may do a 180 degree turn by 6 pm. lol :o) -
tumbleweed the wanderer	Thu Dec 19 11:09:34 no, he will stick to this position... completely reversing opinion now that he will have to deal with it (plus he didn't even pretend to run on fiscal responsibility this time... it -was- the #1 R issue since my entire life, but that party is dead, now just the cult of Trump & his 'all rules can be suspended when i say so' belief)
murder Member	Thu Dec 19 11:25:07 He established an entire imaginary department to cut government spending. This is going to make Elon mad. :o)
tumbleweed the wanderer	Thu Dec 19 13:21:00 yeah, -Elon- came up w/ the DOGE & bought his way into the administration... Trump wasn't running on it & even cut fiscal responsibility out of the R platform
jergul large member	Thu Dec 19 13:26:01 You can do both. Cut the Federal budget massively and still need to increase Federal debt levels.
tumbleweed the wanderer	Thu Dec 19 15:07:58 moron who likely knows nothing about what he's talking about here (as usual): " SUCCESS in Washington! Speaker Mike Johnson and the House have come to a very good Deal for the American People. The newly agreed to American Relief Act of 2024 will keep the Government open, fund our Great Farmers and others, and provide relief for those severely impacted by the devastating hurricanes. A VERY important piece, VITAL to the America First Agenda, was added as well - The date of the very unnecessary Debt Ceiling will be pushed out two years, to January 30, 2027. Now we can Make America Great Again, very quickly, which is what the People gave us a mandate to accomplish. All Republicans, and even the Democrats, should do what is best for our Country, and vote “YES” for this Bill, TONIGHT! " ---------- "The date of the very unnecessary Debt Ceiling will be pushed out two years, to January 30, 2027" ^is probably the only thing he knows about... conveniently moved to after the midterms
murder Member	Thu Dec 19 19:47:24 It sounds like he's planning to explode spending "very quickly".
tumbleweed the wanderer	Fri Dec 20 10:11:13 our dear leader going further: " Congress must get rid of, or extend out to, perhaps, 2029, the ridiculous Debt Ceiling. Without this, we should never make a deal. Remember, the pressure is on whoever is President. " let's see if he can get R's to abandon another core principle i wonder where 2029 came from... so hard to figure...
kargen Member	Fri Dec 20 13:59:08 Tumbleweed until very recently the Democrats wanted to remove the debt ceiling. Because of Democrats efforts in 2022 we effectively do not have a debt ceiling now. It was suspended in 2023 and when enacted again it will be raised to whatever the debt is at the time.
Paramount Member	Fri Dec 20 14:17:15 What is the point of a debt ceiling if you are going to raise it every time you reach it? It is also more fun to spend money than not to. So, just abolish the ceiling.
kargen Member	Fri Dec 20 16:24:18 There is no point and never has been. It is something they can use to try and scare citizens into letting them attach unrelated items to a spending bill thinking there is some urgency in getting it done. Oh shit we are about to default on our loan we better ban coal and increase our limit.
	show deleted posts

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