GOP skepticism grows over Trump's debt ceiling extension amid $40 trillion debt
President Trump is pushing to raise the debt limit through the end of his term using reconciliation, but many Republicans are hesitant given the national debt has reached $40 trillion. Senator Thom Tillis and others argue that extending the borrowing authority would avoid needed fiscal reforms, while bond market investors are demanding higher premiums. The program's trustees have moved up insolvency dates for Social Security and Medicare, adding urgency to the debate.
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Original headline: “Trump plan to raise borrowing limit on shaky ground as debt roils bond market.” Browse more stories.