The president said that he agrees with Sen. Elizabeth Warren on the proposal.
President Donald Trump said on Wednesday that he wants lawmakers to pass a measure to abolish the U.S. debt limit, agreeing with a comment made by a longtime Democratic foe.
“I am very pleased to announce that, after all of these years, I agree with Senator Elizabeth Warren on SOMETHING,” Trump wrote on social media, referring to the Massachusetts Democrat.
The debt limit, he said, “should be entirely scrapped to prevent an Economic catastrophe” because it has in the past been “put in the hands of political people that may want to use it despite the horrendous effect it could have on our Country and, indirectly, even the World.”
“As to Senator Warren’s second statement on the $4 Trillion Dollars, I like that also, but it would have to be done over a period of time, as short as possible. Let’s get together, Republican and Democrat, and DO THIS!” Trump added in his post on Truth Social, sharing a screenshot of Warren’s post on X.
Warren’s post on May 30 indicated that she agreed with Trump in scrapping the debt limit and sought a bipartisan solution “to get rid of it forever.”
She was making reference to a comment from Trump last week during an Oval Office news conference in which he noted that Warren has long been a proponent of removing the debt limit and “always agreed” with that proposal.
“She wanted to see it terminated, gotten rid of, not being voted on every five years or 10 years, and the reason was because it’s so catastrophic for our country,” Trump said in the news conference, held alongside former adviser and Tesla CEO Elon Musk.
The back-and-forth on the proposal comes just weeks after Treasury Secretary Scott Bessent warned in a letter to Congress that the United States may reach the debt ceiling by some time in August. He then called on Congress to either increase or suspend the debt limit.
“A failure to suspend or increase the debt limit would wreak havoc on our financial system and diminish America’s security and global leadership position,” Bessent wrote in a letter, dated May 9.
