“Get rid of it,” Dimon told lawmakers of the debt ceiling, according to the source. The meeting with the New Democrat Coalition comes just days after Congress passed a last-minute compromise to raise the debt limit before the government would have had to stop paying some bills. During the lunch, Dimon described the debt ceiling as an “unmitigated disaster” and urged lawmakers to reform it to prevent future crises, the source told CNN.
“It’s just one of those things that each side will torture the other side with…But it is potentially terrible.” Beyond the debt ceiling, Dimon had a wide-ranging conversation with House Democrats on everything from immigration reform and housing to the banking crisis and hiring people who have previously been imprisoned, the source said.