As the next showdown over raising the debt ceiling approaches, a new scenario has emerged as a possible way to avoid both default and budget concessions to Congressional Republicans. Some analysts believe the government could mint one platinum coin, assigning a denomination of a trillion dollars, and deposit that coin in the treasury to “pay down” a trillion dollars of our national debt. Not everyone agrees that minting the coin is a realistic option, though. I’ve posted some links and analysis after the jump.
For the record, I don’t believe President Barack Obama would seriously consider minting a trillion-dollar coin. In fact, the only past presidents I could imagine pulling a stunt like that would be FDR, LBJ, and Richard Nixon. What do you think, Bleeding Heartland readers? Incidentally, today would have been Tricky Dick’s 100th birthday.
This is an open thread, so all topics are welcome.
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