President Donald Trump and Sen. Elizabeth Warren of Massachusetts have been slinging insults at each other for nearly a decade and generally find themselves on the opposite side of every political issue. But there's one thing they both say they agree on: Eliminating the debt ceiling.

"@realDonaldTrump and I agree: the debt limit should be scrapped to prevent an economic catastrophe," Warren wrote in a social media on May 30. "Let's pass a bipartisan bill and get rid of it forever.".

Mr. Trump said on Wednesday that he agrees.

"I am very pleased to announce that, after all of these years, I agree with Senator Elizabeth Warren on SOMETHING. The Debt Limit should be entirely scrapped to prevent an Economic catastrophe," the president posted on his social media platform "Let's get together, Republican and Democrat, and DO THIS!"

What is the debt ceiling?

The Trump budget bill that passed the House would raise the debt ceiling by $4 trillion. Warren added it would be an "outrage" to raise the debt limit by that much "to fund more tax breaks for billionaires."

The debt ceiling represents the maximum amount of money that the Treasury can borrow to pay off the federal government's debts. Last month, Treasury Secretary Scott Bessent told Congress that the government won't be able to pay its bills as soon as August if it's not raised soon. 

Mr. Trump stunned Capitol Hill in December when he said the debt ceiling "should be thrown out entirely."  It's been used as leverage by both political parties in recent years in spending negotiations.