WASHINGTON — President-elect Donald Trump told NBC News in a recent interview that the “smartest thing” Republicans could do is to eliminate the debt ceiling altogether.
“The Democrats have said they want to get rid of it. If they want to get rid of it, I would lead the charge,” Trump said.
The debt ceiling has been in place since 1917.
Also Read: Trump’s spokeswoman preaches fiscal responsibility. But she has a debt problem.
When Raw Story spoke to lawmakers on Capitol Hill, however, it became clear that it's not something in the cards for Trump.
Sen. Ted Cruz (R-TX) called the debt ceiling "critically important," saying, "It has been the most effective leverage for forcing structural reforms on spending."
Each time it has been asked, Congress has raised the debt ceiling.
When Raw Story asked Sen. Ron Johnson (R-WI) whether he agreed with Trump that removing the debt ceiling was a good idea, the GOP ally didn't merely say no—he said, "Hell no!"
"I'm happy to negotiate an increase," Johnson said, saying that the largest debate is what level they would bring it to. "It's got to be dramatically lower than what it is today."
He cited the increase in spending amid the COVID-19 pandemic, calling it "insane."
Sen. Rick Scott (R-FL) agreed, saying, "I like the debt ceiling. It reminds us of something we should be focused on. It's a good reminder that it's a problem.
Raw Story asked whether he was surprised to see Trump call for it to be eliminated. Scott said he "didn't see that."
Sen. Rand Paul (R-KY) called each increase in the debt ceiling "the Day of Shame" and implied that all who support it should wear it like an Albatross. He's also against having the increase tied to the budget reconciliation bill. However, he didn't clarify whether he would filibuster that.
Sen. Cynthia Lummis (R-WY) said that she always believed "it was worthy to have a discussion about our overspending that coincided with the debt ceiling."
"That said, I'm willing to consider playing down the importance of the debt ceiling in light of DOGE," she said, referencing the so-called Department of Government Efficiency (DOGE). The Department hasn't actually been created, but Trump indicated he would allow Vivek Ramaswamy and Elon Musk to make $2 trillion in cuts.
On Wednesday, Musk told former Hillary Clinton strategist Mark Penn in an interview on X that the $2 trillion figure was a “best-case outcome.” In reality, Musk confessed there was only a “good shot” at cutting half that, NBC News reported.
Musk previously told Americans he would cut $2 trillion in Government waste and spending.