Washington DC - President Donald Trump and Massachusetts Senator Elizabeth Warren found themselves in the rare position of actually agreeing with each other, at least when it comes to the debt limit.

"I am very pleased to announce that, after all of these years, I agree with Senator Elizabeth Warren on SOMETHING," Trump said in a Wednesday post on Truth Social. "The Debt Limit should be entirely scrapped to prevent an Economic catastrophe."

"It is too devastating to be put in the hands of political people that may want to use it despite the horrendous effect it could have on our Country and, indirectly, even the World," Trump said.

The comments came in response to a May post by Warren, who wrote on X: "[Trump] and I agree: The debt limit should be scrapped to prevent an economic catastrophe. Let's pass a bipartisan bill and get rid of it forever."

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The Massachusetts added one important caveat, though: "But jacking up the debt limit by $4 trillion to fund more tax breaks for billionaires is an outrage."

To that, Trump replied raising the limit to that level "would have to be done over a period of time, as short as possible. Let's get together, Republican and Democrat, and DO THIS!"

In May, Treasury Secretary Scott Bessent warned that the US will reach its debt cap by August, triggering fears around how the Trump administration would pay its bills.

The president's signature "Big Beautiful Bill" is expected to add trillions to the US deficit through its program of expanded tax cuts mainly favoring the wealthy, while brutally slashing social spending for millions of lower income Americans.