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Investing.com -- U.S. President Donald Trump on Wednesday took to Truth Social to express his agreement with Democratic Senator Elizabeth Warren on one major policy issue: the abolition of the debt limit.
The President emphasized the potential for economic disaster should the debt limit be used improperly by political figures. He stated that the potential harm to the U.S., and indirectly to the world, is too significant to risk.
Trump also responded positively to Senator Warren’s proposition regarding $4 trillion, though he suggested that such a large sum would need to be handled over a manageable timeframe. He did not specify the duration, but stressed that it should be as brief as possible.
The President concluded his message with a call for bipartisan cooperation on this matter, urging Republicans and Democrats to come together to act on this issue. His statement marks a rare instance of agreement with Senator Warren, known for her progressive economic policies.
This announcement comes amid ongoing discussions about the U.S. debt limit, which has been a contentious issue in Congress. The debt limit is a self-imposed cap on the amount of money that the U.S. government can borrow. Scrapping the limit would eliminate this cap, allowing the government to borrow as needed to meet its financial obligations.