After first pushing for a government shutdown, President Donald Trump now believes the next "smartest thing" to do for the U.S. is to get rid of the debt ceiling. But can he really do that?

On his way to assuming office again, Trump has been quite literally playing with the government structure. But the debt ceiling isn't a plaything. For the unversed, it is a legal limit set by Congress on the money the federal government is authorized to borrow. The debt ceiling thus acts as a check on fiscal policy and ensures that the government does not borrow unlimited amounts of money.

However, recently speaking to NBC News, Trump revealed that the Democrats want to get rid of this ceiling and called it "a meaningless concept." But whether or not the debt ceiling is meaningless is debatable. It directly dictates how much the government can spend on funding government programs, paying interest on the national debt, Social Security benefits, military salaries, and more.

If the government hits the debt ceiling and Congress does not raise or suspend it, the Treasury Department cannot issue more debt. It then leads to a government default, a financial market meltdown, and a reduction of the U.S. credit rating. In Trump's opinion, the debt ceiling "doesn't mean anything, except psychologically," but what else do we expect from a government backed by business tyrants?

The Second Liberty Bond Act of 1917 and its later amendments established the debt ceiling as a legal requirement. The debt ceiling cannot be changed or repealed without Congressional action; the President of the United States can only encourage Congress to do so. So, thankfully for us, Trump cannot abolish the debt ceiling on his own.

A limit on borrowings ensures a degree of accountability over federal spending on the government's part and also keeps a check on unchecked spending. However, it does not control or reduce government spending since it applies to money already authorized by Congress. The absence of a debt ceiling would ensure uninterrupted payments for Social Security, military salaries, interest on the national debt, and other obligations.

However, on the other hand, government borrowing could grow unchecked in the absence of a set limit, worsening the national debt problem over time. And can we really trust Trump's troops to keep a check on their fiscal responsibility without a debt ceiling? In any event, removing the debt ceiling would need changing or abolishing current legislation, which calls for bipartisan support. Given the current political environment, it seems unlikely that Trump will be able to abolish the debt ceiling.