Hi Nanood. The debt ceiling is a different issue to the trade deficit albeit the trade deficit will impact the need to adjust the debt ceiling. The Congress first budget has to take into account the debts already created by the former Republican Congress and Trump Presidency bearing in mind that the Democrats only took office in January this year. Trumps history making record deficit of course plays a huge part in the need to adjust the debt ceiling near term. Trump could continue to make matters worse and Congress has no recourse but to adjust the debt ceiling accordingly so it can pay for the services the govt provides. Perhaps from 2020 when Trump could go, the new Republican or Democrat President will institute policies that will improve the general economy and revenues needed to run the business of govt in a more cooperative spirit between the oval office and Congress.
