Trump advocates for removal of debt ceiling, criticizes recent funding deal

Investing.com -- President-elect Donald Trump has urged Congress to abolish the debt ceiling, terming it a meaningless concept. In a phone interview with NBC News on Thursday, Trump stated that eliminating the debt ceiling would be a smart move, one he would fully back.

Trump conveyed that if Democrats are keen on removing it, he would be at the forefront of the effort. He further suggested that the implications of breaching the debt ceiling are uncertain and could range from a catastrophe to being inconsequential. He emphasized that no one should want to discover the potential consequences.

Regarding the potential government shutdown, Trump stated that if it were to happen, it would commence under a Democratic president. He implied that the current conflict in Congress is necessary to pave the way for his administration, which begins in January.

When asked about his confidence in House Speaker Mike Johnson, Trump responded with a non-committal "We'll see." He expressed his disapproval of the recent funding deal, calling it a "Democrat trap" and unacceptable in many ways. This deal was part of the Speaker's continuing resolution.

Before Elon Musk, the owner of X, posted on Wednesday, Trump had shared his views on the short-term funding deal with him. Trump revealed that he encouraged Musk to release a statement if he agreed with his perspective. According to Trump, Musk is considering the situation from a cost standpoint, and their views align and are very much on track.

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Source: Investing.com