Trump Slams Debt Ceiling Extension as 'Dumbest Decision'

Donald Trump criticized a 2023 budget deal extending the U.S. debt ceiling until January 2025, calling it a poor political decision. Trump urged for immediate action by Democrats, blaming them for any future fiscal issues. The U.S. Treasury can meet its obligations temporarily.

U.S. President-elect Donald Trump has sharply criticized the extension of the national debt ceiling, labeling it as 'one of the dumbest political decisions made in years.' This comes in response to a 2023 budget agreement orchestrated by former House Speaker Kevin McCarthy and President Joe Biden, which suspended the debt limit until January 1, 2025.

Trump took to his social media platform, Truth Social, to express his disapproval, stressing that Congress's decision jeopardizes future fiscal stability and insisting that Democrats should be held accountable for any resulting financial turmoil. Trump said, 'The Democrats must be forced to take a vote on this treacherous issue NOW, during the Biden Administration, and not in June.'

While the deal allows the U.S. Treasury to honor its financial commitments for several months, the pressing concern is that lawmakers will need to revisit this issue next year to prevent a fiscal crisis. Trump's remarks underscore the contentious political atmosphere surrounding budgetary and fiscal policy debates in Washington.

(With inputs from agencies.)