Debt Ceiling Limit

SOURCE www.foxnews.com
Sen. Elizabeth Warren and President Donald Trump agree on eliminating the nation's debt ceiling limit. Warren argues that the debt ceiling is a political tool that serves no real purpose.

Key Points

  • Warren and Trump agree on abolishing the debt ceiling
  • Debt ceiling seen as a political tool with no impact on spending

Pros

  • Eliminating the debt ceiling limit may prevent economic collapse
  • It could stop political brinkmanship surrounding debt ceiling negotiations

Cons

  • Some Republicans, like Sen. Rand Paul, oppose the idea
  • Concerns over a $5 trillion debt ceiling increase