Today is
Monday December 23, 2024
(WASHINGTON) -- President-elect Donald Trump on Thursday took credit for killing the House Republican-proposed government funding bill, telling ABC News there will be a government shutdown unless Congress eliminates or extends the limit on government borrowing.
"We're not going to fall into the debt ceiling quicksand," Trump said in an exclusive phone interview. "There won't be anything approved unless the debt ceiling is done with."
Trump said he is concerned that if government borrowing reaches the limit set by the debt ceiling, it could lead to an economic depression. Under current law, the federal government would hit its borrowing limit sometime in the spring of 2025, during the first months of the second Trump presidency. Trump said he wants it taken care of now, while Joe Biden is president.
"By doing what I'm doing, I put it into the Biden administration," Trump said. "In this administration, not in my administration."
"The interesting thing is, [the debt ceiling] possibly means nothing, or it means [the] depression of 1929," Trump added. "Nobody really knows. It means nothing, but psychologically it may mean a lot, right? In other words, it doesn't have a real meaning other than you've violated something. And that may be just, one day, half a story, or it may lead to the depression of 1929 and nobody wants to take the chance, except the Democrats."
Congress must pass a funding bill by Friday night to avoid a shutdown of major federal services.
Trump said he is more concerned about the debt ceiling, which was not part of the spending bill rejected by the House on Wednesday after Trump and ally Elon Musk weighed in, than he is in the level of government spending.
"I don't mind the spending for the farmers and for disaster relief from North Carolina, etc., but that's all," he said, referring to $100 billion in disaster relief aid and $10 billion in assistance to farmers.
When asked about concerns about a potential shutdown, the president-elect reiterated there will be a shutdown if the debt ceiling isn't addressed, and claimed it would be Biden's fault.
"Shutdowns only inure to the person who's president," Trump said. "That's what I tried to teach [former House Speaker] Kevin McCarthy, but I obviously didn't do a very good job [with] a shutdown because he kept giving them extensions into my territory, a shutdown only hurts or inures to the person who happens to be president."
As for House Speaker Mike Johnson's fate, Trump said, "If he's strong, he'll survive it. If he's strong, he will survive it."
Copyright © 2024, ABC Audio. All rights reserved.