Trump's demand to abolish debt ceiling hits a brick wall

[BumRushDaShow]

Source: Axios

31 mins ago


Donald Trump's idea of abolishing the debt limit is foundering on Capitol Hill as Democrats line up against it and Republicans uncomfortably try to shoot it down without angering the president-elect.

Why it matters: With Trump digging in on the likely unworkable stipulation as part of government spending negotiations, the once-faint prospect of a holiday government shutdown is seeming more and more realistic.

The demand comes after Trump torpedoed a bipartisan deal House Speaker Mike Johnson (R-La.) negotiated to fund the government until March.

State of play: Democrats would be Trump's most likely partners in eliminating the debt ceiling — an idea that has long been palatable in Democratic circles.

But while a handful of Democrats have endorsed his approach, the party's official line is that anything but their deal with Johnson is a non-starter.

Many lawmakers are also seizing on Trump policy plans that would raise the deficit — particularly his proposed tax cuts — to justify their opposition.

What they're saying: House Minority Leader Hakeem Jeffries (D-N.Y.) set the tone Thursday with a social media post saying "hard pass" on even raising the debt ceiling, let alone eliminating it.

"In order to give massive endless tax cuts to Elon Musk and other billionaire oligarchs? I don't know – there might be some wariness to that," Rep. Jamie Raskin (D-Md.) said of scrapping the debt limit.

Some Democrats even acknowledged their long-standing support for getting rid of the statutory limit, but said this case is an exception.

Rep. Maxwell Frost (D-Fla.) told Axios: "There's other things we have to weigh now. Am I for eliminating the debt ceiling? Yes, I was for that two years ago, but we have to look at what's in front of us right now as well."

Read more: https://www.axios.com/2024/12/19/trump-abolish-debt-ceiling-republicans-democrats

[shawn703]

1. Dems should be for it IMO

Tax cuts for billionaires are going to pass with or without a debt ceiling. If we have a debt ceiling, it's never going to be repealing taxes that's put on the table, but what discretionary spending is going to be cut. And absolutely put the Republicans in an uncomfortable position, nothing wrong with that.

[FakeNoose]

5. Because it means rampant out-of-control inflation

It means the government will just keep on printing money to the point that it becomes worthless. That's what happened in Germany in the 1920s and it destroyed their economy, leading to much bigger social and political problems.

[Yavin4]

2. LROE

Let Republicans Own Everything. If Trump wants to get rid of the debt ceiling, then he has more than enough votes in congress to do so. It's not the Democrats' responsibility to help him on anything.

[bucolic_frolic]

3. Eliminating the ceiling at this point is about the magnitude of Billionaire tax cuts

This is grand larceny in progress. DOGE the budget, eliminate debt impediments, presto! you've found your trillions to line Eloon's pockets.

[LetMyPeopleVote]

4. Hakeem Jeffries response

[niyad]

6. Too bad he doesn't.