Trump plan to raise borrowing limit on shaky ground as debt roils bond market

President Trump's plan to raise the debt limit through the end of his presidency before Republicans likely lose control of Congress is on shaky ground because of rising concerns over the national debt — which has reached $40 trillion.

The president is quietly pushing Senate Majority Leader John Thune (R-S.D.) and House Speaker Mike Johnson (R-La.) to use a third budget reconciliation package to extend the debt limit through 2029 — the end of Trump's term — to avoid the prospect of a difficult negotiation with Democrats next year if they win control of the House or both chambers of Congress.