Overview

• President Trump posted on Truth Social that scrapping the debt limit is crucial to prevent an economic catastrophe.
• Warren’s New York Times essay argues the debt ceiling forces dangerous brinkmanship without curbing spending or the national debt.
• Trump’s proposed “Big Beautiful Bill” pairs debt-ceiling repeal with a $5 trillion increase in borrowing authority.
• Sen. Rand Paul and other Republicans oppose the $5 trillion hike in the bill, calling it a “terrible idea.”
• Warren denounces the broader legislation as “morally bankrupt,” citing its tax cuts for wealthy interests and cuts to health coverage.