The US is certainly one of a small handful of nations that has a statutory restrict on the federal debt. It was once routine for Congress to lift the debt ceiling, however just lately, Home Republicans have been utilizing the debt ceiling to extract political concessions from Democratic Administrations. Whereas elevating the debt ceiling wasn’t within the current persevering with decision that Speaker Johnson was negotiating and co-president Elon Musk simply torpedoed, will probably be a problem shortly after Trump’s inauguration. That might intervene together with his plans for tax cuts for the rich and for firms. So in keeping with the Guardian:
“Now, the president-elect has modified his demands, by telling NBC News in an interview that he wants the debt ceiling eliminated outright. “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 advised the broadcaster.”
I say do it. Do away with the debt ceiling as soon as and for all and finish the fiscal hostage taking.
