President Donald Trump shared a lighthearted post with a message on Truth Social Wednesday, directed at Democratic Sen. Elizabeth Warren of Massachusetts.
The post was regarding the debt ceiling increase of $4 trillion contained in the “Big Beautiful Bill.” Trump wants the debt ceiling abolished altogether.
“I am very pleased to announce that, after all of these years, I agree with Senator Elizabeth Warren on SOMETHING. The Debt Limit should be entirely scrapped to prevent an Economic catastrophe,” he wrote.
“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,” Trump added.
“Let’s get together, Republican and Democrat, and DO THIS!” Trump urged Warren.
Donald J. Trump Truth Social 06.04.25 01:25M EST pic.twitter.com/Q0Oa4Q3EFh
— Commentary Donald J. Trump Posts From Truth Social (@TrumpDailyPosts) June 4, 2025
Warren had first posted on social media platform X that she agrees with Trump about ending the debt ceiling.
“Let’s pass a bipartisan bill to get rid of it forever,” she wrote. “But jacking up the debt limit by $4 trillion to fund more tax breaks for billionaires is an outrage.”
Trump is pleased to announce he agrees with Elizabeth Warren on raising the debt limit a day after he trashed Rand Paul for opposing his “big, beautiful bill” pic.twitter.com/hPHP0XcQJ8
— An0maly (@LegendaryEnergy) June 4, 2025
The president has long argued that the debt limit is something the opposing party uses as a kind of Sword of Damocles to demand new government spending and other concessions in exchange for getting their vote.
Politico reported that if the debt ceiling is not raised, Treasury Secretary Scott Bessent has warned that his department will run out of money to pay all the nation’s bills by August.
One source of revenue that is at least helping forestall the cash crunch is the tariffs that Trump instituted since taking office.
A new analysis released by the Congressional Budget Office Wednesday estimates the tariffs will bring in $2.8 trillion in revenue over the next decade.
In new analysis, Congressional Budget Office estimates Trump tariffs will reduce total federal deficits by $2.8 trillion in next decade. https://t.co/jzQkFMezro pic.twitter.com/VkvLw9BPra
— Byron York (@ByronYork) June 4, 2025
As of May 29, the U.S. had taken in $68.9 billion this year, with most of Trump’s new tariffs having just been put in place in April. That is more than a 78 percent increase from the same time period last year, according to Politico.
Contrary to Warren’s characterization, the Big Beautiful Bill makes the 2017 Tax Cuts and Jobs Act permanent. That legislation featured across-the-board rate reductions at all income levels, the Tax Foundation reported.
Additionally, it includes no taxes on tips and no taxes on overtime income, as well as increases the standard deduction for seniors by $4,000. It also ups the child tax credit from $2,000 to $2,500 per child.
GOP Sen. Rand Paul of Kentucky has come out against the bill, saying the debt ceiling increase contained in it is too much.
If the bill were solely about making the 2017 tax cuts permanent, I wouldn’t be a yes; I’d be a hell yes.
Unfortunately, that’s not the reality with this bill. It includes the largest increase of the debt ceiling ever and will have the United States borrowing $5T over the next… pic.twitter.com/N2rYfNDC30
— Rand Paul (@RandPaul) June 4, 2025
“If the bill were solely about making the 2017 tax cuts permanent, I wouldn’t be a yes; I’d be a hell yes,” he posted on X.
Paul told Newsmax, “This will be the largest increase in the debt ceiling ever. This will be the first time that Republicans alone will be responsible for the debt.”
The senator added that, if GOP leadership takes raising the debt ceiling provision out of the legislation and makes it a separate vote, he would likely back the Big Beautiful Bill.
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