Trump, Republicans Plan Debt Ceiling

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debt ceiling

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5 ways the debt limit fight could play out under Trump

Summary

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72% Informative

The debt ceiling was reestablished earlier this month after being suspended for the past year and half .

The national debt now stands at more than $36 trillion .

Trump has called for Congress to move quickly to raise or suspend the debt ceiling.

But internal rifts on spending and partisan divides could complicate the path forward.

The party out of power — which Democrats are this year — can demand major concessions in return for agreeing to raise the debt limit.

Republicans successfully used the strategy in the last Congress to secure a deal with President Biden that suspended the debt ceiling through the end of 2024 .

Experts have warned a national default could yield catastrophic effects for the nation’s economy.

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semi-formal

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English

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