Trump called raising the national debt ceiling one of the dumbest policy decisions ever made

US President-elect Donald Trump said that raising the ceiling of the national debt "will be perceived as one of the stupidest political decisions made in recent years." He wrote about this in his Truth Social on December 29.

"The debt ceiling extension by the previous Speaker of the House <...> will go down in history as one of the dumbest policy decisions made in recent years. There was no reason to do it," he wrote.

Trump blamed such a decision on the US Democratic Party, which he said was deliberately willing to go to any lengths to hurt the Republican Party.

"This was US President Joe Biden's problem, not ours. Now it's becoming ours. I call it '1929' because the Democrats don't care what our country can be involved in," he said.

Earlier, on December 27, U.S. Treasury Secretary Janet Yellen said that the U.S. will return to a fixed government debt ceiling in January. She also warned that after America reaches the debt ceiling between January 14 and 23, the country's Ministry of Finance will be forced to take emergency measures to avoid a possible default.

Before that, November 15, it became known that the U.S. national debt for the first time reached a record $36 trillion. The debt figure rose by $1 trillion in three and a half months. It reached $35 trillion on July 29 of this year.

On November 5, newly elected U.S. President Donald Trump said that he would order to pay off the national debt with cryptocurrency. The American politician noted that cryptocurrency has a "great future".

Specialists of the International Monetary Fund (IMF) called the growth of the US state debt a threat to the world economy. Thus, by 2032, the country's national debt may exceed 140% of GDP. The IMF urged American politicians to carefully consider raising indirect taxes and a gradual increase in income tax.