Sen. Elizabeth Warren (D-MA) made an eyebrow-raising admission on Thursday: President Donald Trump is right about one "very important" thing: the debt limit.
Warren wrote in an op-ed in The New York Times on Thursday, "It is possible that hell has frozen over," as she admitted she and Trump agreed the nation ought to abolish the debt limit.
The debt limit or ceiling is the maximum amount of money the federal government can borrow to meet its legal obligations, including payments for Social Security and Medicare benefits, military salaries, interest on the national debt, tax refunds, and other commitments. The limit was reinstated in January at $36.1 trillion after being suspended in June 2023.
Warren said the limit is being used as a "political tool that allows the minority party to threaten economic collapse" and force Congress to "negotiate its demands."
"It serves no other function. None. It has no impact on spending, and it doesn’t restrain the growth of the national debt," she railed.
Warren said she's long urged both parties to abandon the debt limit permanently, to no avail. But that could soon change.
"Now, with Mr. Trump’s support, our country could finally get rid of this form of brinkmanship that has, for decades, threatened the stability of our economy," she cheered.
In December, Trump said in a phone interview that the debt ceiling "should be thrown out entirely." Warren said she agreed then, and agrees now.
Now, she said, "we have a chance to make a permanent change that benefits our nation."
"Republicans in Congress can set aside their big, beautiful billionaire budget while lawmakers of both parties can come together to do what Mr. Trump urged last week, to recognize that the debt limit is 'too devastating to be put in the hands of political people that may want to use it despite the horrendous effect it could have on our country.'"
