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News Link • Economy - Economics USA

A $1 Trillion Coin Seems Like a Nice Idea

• The Atlantic Wire
Days ago, a Yale Law professor wrote an op-ed for CNN that mentioned a crazy-seeming idea for averting a debt meltdown that doesn't sound crazy anymore: have the Treasury Department exploit a loophole to mint two $1 trillion coins and use those to pay off our debt. Since then, the long-circulating idea has been revived among mainstream policy wonks with the equal parts amusement (why not just one $2 trillion coin?), enthusiasm (the president is obligated to tell Geithner to do this), cynicism (anything to distract from the DC spectacle) and curiosity (what size would it be?). Here's how the idea was unpacked. Caveat: this seems an awful lot like just another symptom of debt ceiling fatigue.

1 Comments in Response to

Comment by Brock Lorber
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To be fair, there is precedent.

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