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President-elect Donald Trump confounded members of Congress and flipped the government spending debate on its head when he demanded a premature increase to the debt ceiling on “Biden’s watch ...
He promised that a debt ceiling deal would happen through the reconciliation process and that it would pair a debt limit increase of $1.5 trillion with $2.5 trillion in cuts made to "net mandatory ...
Most Americans expect Trump to increase US debt, Reuters/Ipsos poll finds. November 8, 2024 at 6:10 AM. ... as interest on the debt exceeded $1 trillion for the first time.
Some 38 House of Representatives Republicans voted against a debt ceiling bill Trump demanded, showing the limits of his grip on the party, a month before he takes office on Jan. 20.
Many Republicans oppose increase without spending cuts. Despite Trump’s opposition to the debt limit, many within his party have refused to raise it without drastic cuts to federal spending ...
For about 48 hours last week, it looked like a debt ceiling fight in 2025 would be averted, as ideas were floated to postpone the issue until 2027 or 2029 (or even forever). But it was not to be.
Since the debt ceiling system was instituted in 1917, Congress has never not raised the debt ceiling. Congress has voted 78 times to raise or suspend the debt limit since 1960.
After weeks of debates and delays, the U.S. Senate passed bipartisan legislation to lift the federal debt ceiling just days before the June 5 deadline set by the Treasury Department. Though...