The following excerpt is from an article that originally appeared on Newsmax
Senate Republican leader Mitch McConnell voiced doubt on Tuesday that the U.S. debt ceiling would be eliminated permanently, an idea floated by Democrats and embraced by Republican President Donald Trump last week.
“As far as the debt ceiling is concerned, we will not be revisiting the debt ceiling until some time next year,” McConnell told reporters. “And getting Congress to give up a tool like that would probably be quite a challenging undertaking.”
Congress must periodically raise the debt limit to keep the U.S. government borrowing and operating. Lawmakers sometimes take advantage of that need to push through policy or spending changes.
Trump voiced support last week for the idea of eliminating the statutory cap on the U.S. Treasury Department’s authority to borrow, saying he discussed the possibility with congressional leaders.
“It complicates things. It’s really not necessary,” Trump told reporters at the White House on Thursday.
At a White Housepost was originally published on this site