(Reuters) - Presidential candidate Donald Trump on Wednesday said he thought it was “worth the fight” for congressional Republicans to threaten not to raise the U.S. debt limit as a way to pressure the Obama administration to agree to spending cuts.
“I would say that it’s worth the fight,” Trump said on Bloomberg TV. “Honestly there is so much fat in Washington that if you had the right people in there you could cut it.”
The Treasury Department has said the federal government can stay under its borrowing limit until at least the end of October. On Tuesday, the Congressional Budget Office extended that forecast to early December.
If lawmakers do not raise the debt ceiling by that time, the U.S. government could be unable to meet some obligations, which could seriously rattle financial markets.
The Republican-controlled Congress must make tough decisions in the coming months. In addition to the debt limit, lawmakers must set funding levels for the next fiscal year. They also will determine whether to extend expiring tax breaks and replenish a fund for transportation projects.
Reporting by Emily Stephenson; Editing by Sandra Maler