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Market
Major Political Party to Support Abolishing Debt Ceiling by June 30, 2025?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
Official statements or party platforms of major political parties
Story
President-elect Trump Calls for Abolishing Debt Ceiling, Warns of Shutdown
Dec 19, 2024, 03:23 PM
President-elect Donald Trump has called on Congress to eliminate the debt ceiling, stating that he would "support that entirely" and is prepared to "lead the charge" to abolish it. In a phone interview with NBC News, Trump described the debt ceiling as a "meaningless concept" that is "only psychological" and does not control government spending. He warned that "there won't be anything approved unless the debt ceiling is done with" and that if it is not eliminated or extended, there could be a government shutdown, which he termed a "Biden shutdown" as shutdowns "inure to the person who's president." Senator Elizabeth Warren agreed with Trump, stating on social media that Congress should terminate the debt limit and "never again govern by hostage taking."
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