NY Post: “Abolishing the debt ceiling would be the “smartest thing it [Congress] could do. I would support that entirely,” the incoming president told NBC News on Thursday.”
“The Democrats have said they want to get rid of it. If they want to get rid of it, I would lead the charge.”
“The proposal quickly got support from one of Trump’s most vocal rivals in Congress, Sen. Elizabeth Warren (D-Mass.).”
Opinion: Trump and his team are way smarter than I am, but I’m not sure I agree. In some ways, it is an arbitrary cap that they just continue raising anyway. Eliminating it would remove the opportunity for both sides to put all of their pork in and hold the other side hostage to pass. But it would open the door for a total loss of accountability or discipline in spending and damage international perception of the U.S. dollar.