Democrats Introduce Bill to Eliminate Federal Debt Limit

Ending limits on government spending by repealing the debt ceiling

• The End the Threat of Default Act removes the $31.381 trillion limit set by Congress on how much the U.S. Treasury can borrow.
• Most Americans oppose raising the federal debt ceiling without accompanying cuts to federal spending.

Biden said Friday that if Congress does not raise the debt ceiling, "we have a calamity that exceeds anything that's ever happened financially in the United States."

• Stern said the "clean" unconditional debt limit increase suggested by Biden would convey that America is fiscally irresponsible.
• "Markets would expect to see slower economic growth and declining household income going forward," he said.

https://www.dailysignal.com/2023/01/24/democrats-introduce-bill-to-eliminate-federal-debt-limit/