President-elect Donald Trump has a big idea he’s pushing as part of a new spending package: get rid of the debt ceiling altogether.
Democrats are saying “no way,” arguing that this is just Trump’s way of clearing the path for more tax cuts for billionaires. But here’s the thing — columnist Heather Long from The Washington Post thinks Democrats might want to reconsider... Continue reading here ▶
According to Long, ditching the debt ceiling isn’t just a win for Trump — it could actually be a smart move for the country and a great opportunity for Democrats to take action before they regain power.
What Is the Debt Ceiling, Anyway?
The debt ceiling is basically a limit on how much the U.S. government can borrow. It’s like a credit card limit for the country. It was created back during World War I to make it easier for the government to borrow money for war expenses. Back then, it made sense. But now? Not so much.
Today, the national debt has skyrocketed from $7 trillion in 2004 to $35 trillion. The debt ceiling hasn’t stopped that growth. Instead, it’s become a political tool that both parties use to fight with each other. It doesn’t control spending — it just authorizes borrowing for money Congress already decided to spend.
A Recipe for Drama
Long explains that the debt ceiling has turned into a regular source of chaos. Politicians use it as a way to score points, and the drama can have real consequences. For example, back in 2011 and 2023, Republicans in Congress nearly caused the U.S. to default on its debts while trying to make a point about spending. Even the threat of a default was enough to hurt the economy.
U.S. borrowing costs went up, and credit rating agencies downgraded the nation’s debt. After last year’s fight, Moody’s even warned that the U.S. debt outlook is “negative.” So, keeping the debt ceiling around seems to do more harm than good.
Why Get Rid of It?
Here’s the argument for scrapping the debt ceiling: it would end these unnecessary crises. Without it, Congress wouldn’t have to repeatedly approve borrowing money for bills it’s already passed. It would also stop the cycle of each party using the debt ceiling as a political weapon when they’re not in power.
People from all sides agree it’s time to move on. Wall Street bankers, progressives like Sen. Elizabeth Warren, and even Republican advisors have said the debt ceiling isn’t helping anymore.
Trump’s Motivations Might Be Questionable
Sure, Trump probably has his own reasons for wanting to get rid of the debt ceiling. Maybe he’s thinking about the massive debt he’s already added and doesn’t want to deal with the drama in the future. But, as Long points out, Trump won’t be president forever. Eliminating the debt ceiling now could benefit future administrations and help the economy in the long run.
The Bottom Line
This might sound like a strange idea coming from Trump, but Democrats might want to take a closer look. Abolishing the debt ceiling would end the repeated threats of default and help the country avoid unnecessary economic pain.
Whether they like Trump’s reasons or not, this could be a chance for Democrats to solve a big problem — and take credit for it before they’re back in power. It’s not about agreeing with Trump. It’s about doing what makes sense for the country.
What do you think? Should the debt ceiling stay or go? Let’s talk about it.