President-elect Trump Urges Abolishing Debt Ceiling or Extending It to 2029

Dec 19, 2024, 04:30 PM

President-elect Donald Trump has called for Congress to abolish the 'ridiculous' debt ceiling entirely or extend it to 2029, according to multiple reports citing interviews with NBC News and ABC News on December 19 and 20. In phone interviews, Trump described the debt ceiling as a 'meaningless concept' and a 'psychological limit with no practical value,' stating that eliminating it would be 'the smartest thing Congress could do.' He expressed his willingness to 'lead the charge' on this issue and warned of a potential government shutdown if the debt ceiling is not addressed. 'There won't be anything approved unless the debt ceiling is done with,' Trump said, adding, 'Without this, we should never make a deal.' He also remarked, 'If we don't get it, then we're going to have a shutdown, but it'll be a Biden shutdown, because shutdowns only inure to the person who's president.' His comments come as Congress faces debates over federal funding and borrowing authority.