The OCGFC, Owners and Controllers of Global Financialized Capital, of which Trump is a member, enrich themselves from tax dollars and running up the national debt. So as in his first term, Trump shows no regard for the health or future of the country, so we’ll take a look at the debt numbers. Some important numbers to look at is the budgetary item of servicing the debt, now over $1 trillion of the $5 trillion the government earns in tax revenue. Breaking the debt down by taxpayer, $271,790, and by citizen, $107,090. If you were spending 20% of your income servicing debt while acquiring twice that much in new debt, how long would you be able to continue functioning? And notice that we, the highest spending military nation (which is security for the OCGFC’s operations and resources worldwide), are spending more servicing debt than the incredible amount we spend on the military (and much of that also enriches the OCGFC and their defense megacorps).
https://thedeepdive.ca/trump-wants-to-scrap-the-us-debt-ceiling/
By JP Alegre
President-elect Donald Trump called to abolish the federal debt limit framework on Thursday, saying it’s “the smartest thing” Congress could do and pledging to “support that entirely.”
In a phone conversation with NBC News, Trump dismissed the debt ceiling’s significance. “It doesn’t mean anything, except psychologically,” he said, questioning whether exceeding the limit would be “a catastrophe, or meaningless.”
The unexpected proposal complicates budget negotiations in Congress, where lawmakers face a Saturday deadline to avert a government shutdown. Several House Democrats, including Budget Committee ranking member Brendan Boyle, have already proposed similar reforms to the debt ceiling system.
Boyle said that “the only way” House Democrats should “vote to raise the debt ceiling under Trump is if we have a permanent elimination” of it.
The remarks followed Trump’s rejection of a bipartisan spending agreement Wednesday, which he discussed with (so-called shadow President-elect) billionaire and co-leader of the newly established Department of Government Efficiency (DOGE) Elon Musk before publicly opposing the deal.
“I told him that if he agrees with me, that he could put out a statement,” Trump said, adding that Musk was “looking at things from a cost standpoint.”
The current debt ceiling suspension, enacted in mid-2023, extends through early 2025. As president, Trump previously authorized multiple debt limit increases and suggested eliminating the system during his administration.
Massachusetts Senator Elizabeth Warren endorsed the proposal, writing on X that Congress should “terminate the debt limit and never again govern by hostage taking.”