Trump would abolish the debt ceiling. Here's what's going on [CNN]
JP Morgan Chase & Co. (JPM)
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Source: CNN
He doubled down on his call in a Truth Social post overnight Friday, calling for the “ridiculous” ceiling to be extended into 2029. Trump, in an interview with NBC News, has also endorsed abolishing the limit on federal debt – currently more than $36 trillion – altogether. These are positions long championed by liberals and anathema to old-school conservatives, though few are to be found in today's Trump-controlled Republican Party. And there are compelling political reasons why Democrats might not want to go along with Trump's plan to ditch the ceiling: it provides them leverage in future negotiations with Republicans. Why is there a debt ceiling? In 1917, when it was financing World War I with Liberty Bonds, Congress instituted a limit on US borrowing and the debt ceiling evolved from there as US debt has grown and grown and grown. Lawmakers must pass spending bills each year, and, along with mandatory spending on Medicare and Social Security, they almost always spend mor
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JPM
Earnings
- 10/14/24 - Beat
JPM
Sec Filings
- 12/20/24 - Form 424B2
- 12/20/24 - Form 424B2
- 12/20/24 - Form 424B2
- JPM's page on the SEC website