On May 29, local time on May 28, US President Joe Biden said in response to a reporter’s question that the US will not completely abolish the debt ceiling.
The statement came after he announced that he had reached a final agreement with House Speaker McCarthy on raising the debt ceiling.
When asked by a reporter if he thought the U.S. should remove the debt ceiling altogether, Biden replied: “No, I think removing the debt ceiling would be more controversial.”
But Biden added that he will study “whether the 14th Amendment needs to be used in the next year or two to determine whether the debt ceiling needs to be enacted every year.”