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Democrats Declare ‘Victory’ Over Donald Trump and Elon Musk [Video]

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Financial Literacy

What’s New

Democratic House leadership said the party secured a “victory for the American people” by working to prevent a government shutdown on Friday night and not passing a bill that would raise or eliminate the debt ceiling as encouraged by President-elect Donald Trump and billionaire Elon Musk.

Newsweek has reached out to House Minority Leader Hakeem Jeffries‘ press team, Trump’s communications manager, and X’s press team on behalf of Musk for comment via email on Saturday.

Why It Matters

Friday’s continuing resolution (CR), passed just hours before the midnight deadline, does not include Trump’s directive to raise or eliminate the debt ceiling—a development Democrats are applauding as a victory.

Earlier this week, Trump and Vice-President elect JD Vance released a statement on X, formerly Twitter, saying, “Increasing the debt ceiling is not great but we’d rather do it on Biden’s watch.”

The debt ceiling is the maximum amount the federal government is …

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