President-elect Donald Trump on Thursday took credit score for killing the Home Republican-proposed authorities funding invoice, telling ABC Information there can be a authorities shutdown until Congress eliminates or extends the restrict on authorities borrowing.
“We’re not going to fall into the debt ceiling quicksand,” Trump mentioned in an unique cellphone interview. “There will not be something authorized until the debt ceiling is completed with.”
Trump mentioned he’s involved that if authorities borrowing reaches the restrict set by the debt ceiling, it might result in an financial melancholy. Below present legislation, the federal authorities would hit its borrowing restrict someday within the spring of 2025, throughout the first months of the second Trump presidency. Trump mentioned he needs it taken care of now, whereas Joe Biden is president.
President-elect Donald Trump speaks throughout a gathering with the Home GOP convention, Nov. 13, 2024, in Washington.
Allison Robbert/AP
“By doing what I am doing, I put it into the Biden administration,” Trump mentioned. “On this administration, not in my administration.”
“The attention-grabbing factor is, [the debt ceiling] presumably means nothing, or it means [the] melancholy of 1929,” Trump added. “No person actually is aware of. It means nothing, however psychologically it might imply loads, proper? In different phrases, it does not have an actual which means apart from you’ve got violated one thing. And which may be simply, someday, half a narrative, or it might result in the melancholy of 1929 and no one needs to take the prospect, besides the Democrats.”
Congress should cross a funding invoice by Friday evening to keep away from a shutdown of main federal companies.
Trump mentioned he’s extra involved in regards to the debt ceiling, which was not a part of the spending invoice rejected by the Home on Wednesday after Trump and ally Elon Musk weighed in, than he’s within the degree of presidency spending.
“I do not thoughts the spending for the farmers and for catastrophe reduction from North Carolina, and so forth., however that is all,” he mentioned, referring to $100 billion in catastrophe reduction assist and $10 billion in help to farmers.
Speaker of the Home Mike Johnson takes questions from reporters after presenting his closing model of an interim pending invoice to his caucus, on the Capitol in Washington, Dec. 17, 2024.
J. Scott Applewhite/AP
When requested about issues a couple of potential shutdown, the president-elect reiterated there can be a shutdown if the debt ceiling is not addressed, and claimed it might be Biden’s fault.
“Shutdowns solely inure to the one who’s president,” Trump mentioned. “That is what I attempted to show [former House Speaker] Kevin McCarthy, however I clearly did not do an excellent job [with] a shutdown as a result of he saved giving them extensions into my territory, a shutdown solely hurts or inures to the one who occurs to be president.”
As for Home Speaker Mike Johnson’s destiny, Trump mentioned, “If he is robust, he’ll survive it. If he is robust, he’ll survive it.”
