Trump calls for eliminating debt limit 'to prevent economic catastrophe'

President Donald Trump on Wednesday called for abolishing the debt limit in the interests of maintaining financial stability for the nation amid mounting pushback from Senate lawmakers over the "big, beautiful bill's" spending provisions.

Trump made the remarks while responding to a post from Sen. Elizabeth Warren, D-Mass., calling for the same move.

"I am very pleased to announce that, after all of these years, I agree with Senator Elizabeth Warren on SOMETHING," he posted on Truth Social. "The Debt Limit should be entirely scrapped to prevent an Economic catastrophe. It is too devastating to be put in the hands of political people that may want to use it despite the horrendous effect it could have on our Country and, indirectly, even the World."

"As to Senator Warren’s second statement on the $4 Trillion Dollars, I like that also, but it would have to be done over a period of time, as short as possible. Let’s get together, Republican and Democrat, and DO THIS!" he went on.

Warren's post framed an attempt to raise the debt limit as funding tax breaks for billionaires.