U.S. president Donald Trump has signaled that he is open to a proposal to permanently abolish the federal debt ceiling.
It reports the Washington Post.
On Wednesday, met Donald Trump and the senate minoritetsledare, Charles Schumer, what the representatives of the White house are calling a ”gentlemen’s agreement” to develop a plan to no longer require that congress routinely raises the limit for government borrowing.
Some of the details are not clear, and each such plan would require the approval of congressional republicans, but the Washington Post notes that the agreement represents a significant political development for Donald Trump, who has long defended the debt ceiling at any cost.
On the Thursday, had his stance on the debt ceiling, changed markedly.
”For many years people talked about doing away with the debt ceiling entirely, and there are many good reasons to do it,” he said in the White house.
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