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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsPlatinum Mint Coin to End GOP BS on Debt Ceiling...Boehner Face.
http://krugman.blogs.nytimes.com/2013/01/07/be-ready-to-mint-that-coin/Taken from above, for full article see above.
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Enter the platinum coin. Theres a legal loophole allowing the Treasury to mint platinum coins in any denomination the secretary chooses. Yes, it was intended to allow commemorative collectors items but thats not what the letter of the law says. And by minting a $1 trillion coin, then depositing it at the Fed, the Treasury could acquire enough cash to sidestep the debt ceiling while doing no economic harm at all.
So why not?
Its easy to make sententious remarks to the effect that we shouldnt look for gimmicks, we should sit down like serious people and deal with our problems realistically. That may sound reasonable if youve been living in a cave for the past four years.Given the realities of our political situation, and in particular the mixture of ruthlessness and craziness that now characterizes House Republicans, its just ridiculous far more ridiculous than the notion of the coin.
So if the 14th amendment solution simply declaring that the debt ceiling is unconstitutional isnt workable, go with the coin.
This still leaves the question of whose face goes on the coin but thats easy: John Boehner. Because without him and his colleagues, this wouldnt be necessary
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Platinum Mint Coin to End GOP BS on Debt Ceiling...Boehner Face. (Original Post)
mother earth
Jan 2013
OP
Obama should do this now to put an immediate end to the GOP extortion over the debt ceiling
LonePirate
Jan 2013
#2
Little Star
(17,055 posts)1. You tell them Paul!
LonePirate
(13,431 posts)2. Obama should do this now to put an immediate end to the GOP extortion over the debt ceiling
We should not need to endure almost three months of yammering and games from the GOP.
NightWatcher
(39,343 posts)3. the design of the coin, let's think about it....
That'd piss off the pukes.
Jim Lane
(11,175 posts)4. Putting Reagan's face on it would piss them off more.
But no one deserves it more than Reagan. He's the one who reversed 35 years of postwar economic progress, during which the accumulated debt as a percentage of GDP declined pretty steadily. That percentage went up under his administration and that of his chosen succesor, Bush 41; resumed its downward path under Clinton; and then headed up again when Bush 43 emulated Reaganomics (cut taxes on the rich, increase military spending, and make speeches denouncing deficits).
So, while the Bushes did their parts, they were only following the course that Reagan had defined.