Paul Krugman: Obama Should Solve The Budget Deficit By Making A $1 Trillion Coin

1-trillion-platinum-coin

Why reduce spending when you can just print more money?

First of all, we have the weird and destructive institution of the debt ceiling; this lets Congress approve tax and spending bills that imply a large budget deficit — tax and spending bills the president is legally required to implement — and then lets Congress refuse to grant the president authority to borrow, preventing him from carrying out his legal duties and provoking a possibly catastrophic default.

And Republicans are openly threatening to use that potential for catastrophe to blackmail the president into implementing policies they can’t pass through normal constitutional processes.

Enter the platinum coin. There’s a legal loophole allowing the Treasury to mint platinum coins in any denomination the secretary chooses. Yes, it was intended to allow commemorative collector’s items — but that’s 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?

Krugman’s contentions are specious for a number of reasons.

First, Krugman suggests that Congress is entirely to blame for this situation because they spend money and then refuse to give the President authority to borrow to meet that spending. Here’s the problem: The biggest areas of problem spending in the federal budget are mandatory spending items.

According to the CBO, in 2011 the federal government took in $2.3 trillion in revenues and had to dole out $2.1 trillion in mandatory spending on programs like Medicare and Social Security, and to pay interest on the national debt already accumulated. That means that before Congress even gets to areas of discretionary spending – all the money spent on roads, the military, etc. – they’re pretty much already in the red.

And none of that mandatory spending can be reformed, because Democrats in Congress (and more than a few Republicans) won’t let it happen. And even if they did, Obama would veto it.

Second, while President Obama could strike a $1 trillion coin and deposit it in the US treasury under the law, he shouldn’t. Because doing so makes us all poorer by watering down our currency. Inflating our monetary supply by $1 trillion means every dollar the rest of us earn and save is worth less.

Krugman talks of defending the full faith and credit of the US debt, but what does creating money from thin air do to our credit? Do you think our creditors are going to continue buying debt when we’re going to start paying them off with money we’ve just invented?

It’s amazing the lengths to which some will go to avoid admitting that what America faces is a spending problem. We’ve got more government than we can afford. The solution is to shrink government.

Rob Port is the editor of SayAnythingBlog.com. In 2011 he was a finalist for the Watch Dog of the Year from the Sam Adams Alliance and winner of the Americans For Prosperity Award for Online Excellence. In 2013 the Washington Post named SAB one of the nation's top state-based political blogs, and named Rob one of the state's best political reporters. He writes a weekly column for several North Dakota newspapers, and also serves as a policy fellow for the North Dakota Policy Council.

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  • Bat One

    Krugman, as nearly everyone knows, is about the last person who should be listened to where economic and fiscal policy are concerned. As I recall, before he was hired as NYT bugler for the “progressive” Left, he was a consultant to the Board of Directors of Enron. We all know how Enron ended up.

    • Matthew Hawkins

      The Enron scandal happened because a bunch on conservative republicans (I know this because of their relationships and contributions to the Republican Party) created an ILLEGAL pump and dump scheme which overstated their capabilities, which led to them signing contracts which they couldn’t perform. This predictably led to the California brown outs costing BILLIONS of dollars.

      Meanwhile the corporate officers were raiding the corporate treasury hoping a court would believe that Enron was adequately capitalized and they could keep their ill gotten gains.

      Ken Lay was about to lose his trial when he died. Unexplicably his family was allowed to keep the proceeds of a criminal conspiracy bigger than the mafia. His wife and children should be in a soup kitchen.

      Have I missed anything? Are you really going to claim this is a liberal scandal?

      • http://sayanythingblog.com Rob

        I think blaming Enron entirely on Republicans is about as dumb as blaming it entirely on Democrats.

        And also about as dumb as blaming California’s brownouts on Enron.

        • Matthew Hawkins

          Was Ken Lay a Republican?

          Show me the democrats involved.

          • Bat One

            The “democrats involved” were the ones in the California state legislature who stupidly decided that deregulating one half the of the supply/demand curve in the energy market would be a swell idea.

            Incidentally, the accounting fraud committed by Lay and others doesn’t diminish the validity of the idea that energy markets can, and should, be deregulated. Ir that states like California which refuse to provide for their own energy needs are going to find themselves at the mercy of market forces they cannot control.

        • Matthew Hawkins

          Can you do some research before you make dumbass comments?

          The brown outs were due to energy manipulation in Texas, Mainly by Enron.

          Maybe you should do some research by reading the court documents about Enron.

          Enron was run by Republicans who had access to the White House, this was not a liberal scandal.

          • http://sayanythingblog.com Rob

            Former Governor Gray Davis, a Democrat, sort of disagrees:

            “Believe me, if I wanted to raise rates I could have solved this problem in 20 minutes.”

            http://www.signonsandiego.com/news/politics/recall/20030902-9999_1n2power.html

            Also, FERC’s conclusions from their investigation into the matter:

            “…supply-demand imbalance, flawed market design and inconsistent rules made possible significant market manipulation as delineated in final investigation report. Without underlying market dysfunction, attempts to manipulate the market would not be successful.”

            http://www.ferc.gov/industries/electric/indus-act/wec/enron/summary-findings.pdf

            Did Enron manipulate the market? Absolutely. What made those manipulations possible? Big government’s price caps, among other stupid policies.

            Kind of sounds like the housing collapse, which was brought on by Wall Street greed made possible by federal-backing of subprime mortgages.

            You shouldn’t assume so much, kid. Makes you look kind of like an ass.

          • Bat One

            Kind of???

          • http://proof-proofpositive.blogspot.com/ Proof

            Ken Lay was buddies with Clinton. Later, when he came hat in hand to Bush, the White House turned him down. You’re like a blotter, Matthew. You get everything backwards.

      • camsaure

        Are you really a lawyer?? I know you surley pretend to be one. If so what law firm do you work for? I have never seen your name listed with one.Please enlighten us some more and let us know.

      • Bat One

        What you missed, is the fact that I mentioned nothing about partisan party affiliation. But it is not unreasonable to assume that if consultant Krugman’s advice to the board of Enron was anywhere near as egregiously stupid as his advice to the nation has been since – witness this current column – then he may well have had something to do with the demise of Enron.

  • DakotaDave

    A trillion dollar coin? They couldn’t even get the one dollar Sacagawea coin to catch on. That said, we should maybe get used to higher denomination currency. If they keep printing money like this we’ll need a wheelbarrow of dollar bills to buy a loaf of bread!

    • two_amber_lamps

      Obama USA will soon give Weimar Deutchland a run for it’s $$$….

  • mickey_moussaoui

    Krugman is a jelly head and no one should take him seriously.

    • Guest

      Mickey_moussauoi’s Noble Prizes in Economics: 0
      Paul Krugman’s: 1

      • jl

        Among the past Nobel Peace prize winners- Arafat and Obama. Showing how political some of these prizes are: 1 Guest’s point (whatever it is): 0

        • two_amber_lamps

          BWHAHAHAHAHAHAHAHAAAAHAAHAHAHAHAHAHAAAAAA!

          The only point “guest” has is the one on the top of his shrunken little head.

          • Guest

            says the fat f*tch who apparent believes the best use of her time is sti online posting lackluster insults

          • two_amber_lamps

            Clean up, aisle two… bring a mop!

            Enjoy the last job you shall ever have comrade 7-11 doucher…. and quit playing on the computer. Starbucks doesn’t like you stealing their bandwidth with your inane howling.

          • http://proof-proofpositive.blogspot.com/ Proof

            “who apparent believes the best use of her time is sti (sic) online posting lackluster insults”.

            That there is comedy gold coming from you, Gusty! Project much?

        • Guest

          JL’s point about the nobel prize in economics by citing PEACE prize winners: 0. what a sh*thead, thanks the for the laugh moron

      • Bat One

        Krugman’s prize was for arcane modeling work he did over 25 years ago. He hasn’t done any serious economics work since… obviously.

        AlGore’s Nobel award was for leading the famously fraudulent global warming charge. Arafat was the one who gave the order for the Black September terrorists to murder US Ambassador Cleo Noel and three others in Khartoum in 1973. Former UN Secretary General Kofi Annan, another Nobel recipient, was the one who ordered the UN “Peacekeepers” back to their barracks allowing the Rawanda slaughter of some 800,000 people. And Barack Obama’s Nobel prize was for being Barack Obama, since it obviously wasn’t for actually doing anything significant. Nobel prizes just aren’t what they used to be. Sorry.

        • Guest

          What a moron, first trying to downplay the achievement by citing it’s age. Are Nash’s are Einstein’s work correspondingly degraded because of their age. You also cite peace prize winners which is wholly irrelevant to the issue of winning on in particular field like medicine or economics. Only a sh*thead conservative like batsh*thinsaneone would try to make himself feel better with such pathetically weak arguments. Thanks for the laugh, moron.

          • Bat One

            Exactly the invective-filled tantrum I expected. Thanks for playing! But on your way out the door, please note which of us knew what Krugman’s Nobel prize was for.

            I don’t need to make myself feel better… not when I’ve got adolescent simpletons like you to do it for me.

          • mickey_moussaoui

            smack down by the Bat One

          • Guest

            Thanks for another post with absolutely nothing but name calling and constructively admitting your position is entirely without merit, batsh*tinsaneone! You obviously had no idea what it was for if you’re going to compare his prize to Nobel Peace Prize winners, moron. Thanks again for bravely putting your learning disability on display for all to see!

          • Guest

            It’s also funny that you pat yourself for looking up his entry on Wikipedia and scouring for anything that might be used to undermine his prestigious award and concluded that it was for work he did awhile ago would suffice, without realizing most awards for work done many years ago because that’s how long it takes to determine which works are truly seminal. What a moron! Thanks for the laugh, batsh*tinsaneone!

          • Bat One

            Wrong again! (I guess some habits are just hard to break.) No need to look up anything about Krugman since I’ve known about his witless B.S. since the days when Don Luskin ran the “Krugman Truth Squad” from his “Conspiracy…” website. Long before you showed up here at SAB with your assortment of childish sock-puppets.

          • Guest

            It’s still laughable that you’d think the age of Krugman’s work somehow diminishes the noteworthiness of his award a few years ago. Again, most awards, such as John Nash’s on game theory, were awarded years after publication. Thanks again for demonstrating how little you know about anything, Batsh*tinsaneone!

          • donwalk

            Not all Nobel awards are awarded years after achievement – Obama is still working to achieve something, e-r-r- anything!

          • Guest

            Seriously, do you retards not understand the difference between a prize in economics/science and the peace prize? Thanks for adding your name to the dolts who can’t comprehend such a basic distinction.

          • donwalk

            Since you are speaking as a retard, why can you not see the difference between earning a Nobel prize and being handed one? You inferred that they are generally earned years afterwards and I pointed that out as not being true – with the perfect example. :>)
            Subject: [ndsayanything] Re: Paul Krugman: Obama Should Solve The Budget Deficit By Making A $1 Trillion Coin

          • Guest

            Thanks for wholly ignoring that your point about peace prize winners is wholly irrelevant to the discussion of winners for work in economics. The two prizes are completely different. Awards in economics and sciences are earned much later after the author/scientist publishes, so your point about peace prize winners is again, wholly irrelevant. Since you apparently lack any capacity for reasoning and reading comprehension, I have no doubt you’ll again come back with a point about peace prize winners.

          • donwalk

            Just cannot accept the fact that my point was about “What was earned vs what was handed out free gratis”. That is totally understandable when you focus on the boot polish and licking the boots rather than any accomplishments!

            Subject: [ndsayanything] Re: Paul Krugman: Obama Should Solve The Budget Deficit By Making A $1 Trillion Coin

          • donwalksashithead

            You appear to be getting stupider with every post you make. Again, Krugman won a an ECONOMIC prize for actual publications he made. You’re points about PEACE prizes being handed out are totally irrelevant. Thanks for again proving my prediction that you’d come back with another point about the PEACE prize correct. Since you’ve eliminated all doubt about your mental disabilities, I have no doubt you’ll continue to make irrelevant points about the peace prize winners.

          • donwalk

            Thank you for the same inane, repetitive comment! Therefore I will give you the same posting again. Just cannot accept the fact that my point was about “What was earned vs what was handed out free gratis”. That is totally understandable when you focus on the boot polish and licking the boots rather than any accomplishments!

            Subject: [ndsayanything] Re: Paul Krugman: Obama Should Solve The Budget Deficit By Making A $1 Trillion Coin

          • Guest

            I have to repeat the comment because your insight into peace prizes being handed out is totally irrelevant to economic prizes. Your comment is like saying since gold medals in figure skating are handed out, michael phelp’s gold medals don’t matter. Since you’ve again eliminated all doubt about your sever mental disabilities, I have no doubt you’ll continue to again make irrelevant points about the peace prize winners.

          • donwalk

            If they are not political handouts, please post the accomplishments of Obama that earned him the Nobel Prize he was gifted.
            Subject: [ndsayanything] Re: Paul Krugman: Obama Should Solve The Budget Deficit By Making A $1 Trillion Coin

          • Bat One

            I haven’t suggested that the age of his work in any way diminishes the award. You implied that his current policy opinions have merit because he won the award. I merely pointed out that the work that earned him the award was 25 years ago, and that he has done no serious economics work since. The value of his policy pronouncements, such as it is, should be judged on the merits (or lack thereof) of what he says. His Nobel award adds no legitimacy or luster to his idiot coin suggestion. Any first year econ student knows better.

          • Guest

            LOL, you’re so incomprehensible that it’s impossible to argue. You admit that the age doesn’t diminish the importance of the award, but then contend that since the work he was awarded (just a couple years ago, mind you) is 25 years old that is shouldn’t matter. Again, all papers that win the prize in economics are quite old. John Nash won the award in 1994 for work he did in the 50s. The post was initiated by mickey’s claim that Krugman was jellyhead and his winning a Nobel Prize in Economics is absolutely relevant to his character and your pathetic attempt to now limit the discussion to the coin idea is simply evidence of your desperation to change the subject because you’re wrong. Thanks again for the laugh, sh*thead. You’re so brave to let others laugh at your severe disabilities.

          • mickey_moussaoui

            Okay, that’s funny. you had the prize category wrong…lol. Typical silly lib, making shit up. moron
            hehehe

          • $16179444

            so if Krugman is that great, why has his ideas failed miserably. Secondly comparing Krugman’s ‘ideas’ to Einstein is the height of stupidity – lastly, we all know this is you Hanni

          • igx

            Krugman’s specialty is NOT monetary policy. Plus Greg Mankiw has totally bust him on SERIOUS contradictions about this stuff durning Bush II. He’s a menace to the truth. A hack.

      • mickey_moussaoui

        Yeah, that Nobel Prize has so much integrity….har har

        • Guest

          Yes, people would be much better of if that sat online contributing nothing to society or science like you do each and every day!

          • two_amber_lamps

            people would be much better of if that sat online contributing nothing to society or science like you do each and every day!

            Sound like another day in the life of a low-life 7-11-working high school drop out who bemoans their meaningless job as just another insult to a meaningless existence.

            Now go scrub down the slurpie machine there little misanthrope.

          • Guest

            Wow, yet another post by two_amber_lamps that consists entirely of lackluster insults. What a pathetic life you have that this is the best use of your time.

  • Bat One

    Liberals just LOVE inflation.

    • two_amber_lamps

      They like it when the currency takes on the form of their convoluted heads.

  • Guest

    Rob is flat out wrong Democrats haven’t tried to reign in Medicare spending. Obamacare’s reforms reduced waste, fraud, and inefficiency in the program by billions and did Republican’s hail the fiscal improvments? Hell, no, they ran countless aids crying tht it cut the program by billions and promised to repeal the fraud, waste, and inefficiency savings. http://abcnews.go.com/blogs/politics/2012/08/fact-check-obama-ryan-romney-backed-medicare-cuts/

    • http://sayanythingblog.com Rob

      Ha, Obamacare does no such thing. The cuts to Medicare are never actually going to happen. The “fiscal cliff” deal just delayed them again.

      • Guest

        Typical Rob response- deny anything that doesn’t comport with your conclusion. If they’ll never happen, it’s curious that Republicans voted to keep the the cuts and will have to consent to any delay in their implementation and would thus be equally damnable with respect to their seriousness over the programs’s fiscal health.

        • camsaure

          Seen any unicorns in your doctors office lately??

        • http://sayanythingblog.com Rob

          Well, yeah, Republicans are unwilling to cut Medicare too.

          Some of us have been consistently critical of that.

        • two_amber_lamps

          Comport? Doesn’t sound like typical vernacular used on 7-11 nightly reports… then that’s above your pay grade. But then you can’t even do your current job right, you forgot to clean out the tampon box in the women’s bathroom…. AGAIN.

          Way to go flunkie.

          • Guest

            Seriously. How pathetic is your life that you feel the best use of your time is sit online insulting anonymous posters? What fat, pathetic bitch. Nobody would blame you if you killed yourself.

          • http://sayanythingblog.com Rob

            Said the pot to the kettle.

          • Guest

            I pointed out Democrats voted for Medicare reforms and Two Amber lamps post consisted entirely of insults, per her usual. Figures a hack hack you would see baseless name calling and actual facts as equivalent.

          • Onslaught1066

            You mean like the way you conflate useless opinion pieces with facts?

          • Guest

            Onshat believes numbers and scientific studies are opinions. Onshat1066, you’re such a sh*thead!

          • Guest

            Wow, the “pot and kettle” comeback. If your posts are sh*tty, I suppose your insults would be as well. I await your “I know you are, but am I?” retort.

          • two_amber_lamps

            pot and kettle are about 94.7% more original than the trite blather that foams from your gibbering suck. Clean up, aisle three…. get busy!

          • Guest

            How laughable that you decry originality but continually go back to the 7-11 insult well, likely a result of your extensive experience at gas stations has watered that font very well.

          • two_amber_lamps

            Oh did we hit upon a nerve? More likely the truth methinks Capt. Slurpie?

            Now stop stealing the nickles out of the take-a-penny tray belligerent troll.

          • Guest

            If simply point out the tiredness of an insult is hitting a nerve, one must take pause to ponder how truly obese you are since you once defended against such claims that you really weren’t that big. More likely the truth methinks. I’d say “slurplie” as well, but there’s likely already one in your hands.

          • two_amber_lamps

            Slurpie is what you’re looking forward to from your gay lover Comrade Ellinasty after you get off shift… but that’s not going to happen with your check out line stretching to the door. Better get busy pushing those buttons little buddy!

          • Guest

            Hahaha, couldn’t bring yourself to defend the fat piece of sh*t allegation and would rather continue the 7-11 trope, huh? I’d say you should get pushing buttons as well, the the diameter of your stubby fingers makes that a improbability for fat c$@nts like you.

          • Guest

            Hahaha, couldn’t bring yourself to defend the fat piece of $h*t allegation and would rather continue the 7-11 trope, huh? I’d say you should get pushing buttons as well, the the diameter of your stubby fingers makes that a improbability for fat c$@nts like you.

          • Guest

            Thanks for conceding Two Amber Lamps is a pathetic b*tch, though!

          • Guest

            Seriously. How pathetic is your life that you feel the best use of your time is sit online insulting anonymous posters? What fat, pathetic b*tch. Nobody would blame you if you killed yourself.

          • mickey_moussaoui

            Using “guest” is pathetic considering how you have pretty much replied close to dozen times up to now.

          • Guest

            Using Guest doesn’t allowing editing of posts, sh*thead. Thanks for interjecting yourself to again contribute nothing but name calling and admitting your positions are so without merit you have to resort to such measures. You’re truly pathetic if that’s the best you can do.

      • slackwarerobert

        And that is why the rinos are loosing elections, they yell obama is cutting medicare, but when it come to the cuts they cave and give him the money. All they have to do is NOTHING, and let the cuts go in, then obama takes the heat, they are his obamacare cuts. You pass the repeal with the money and let him veto that as well. You pass a bill ordering SS trustees to use the trrust fund money to pay seniors, and let ried take the heat for not passing it, or let obama veto it, or let the dems admit SS is broke and they spent the money on micheles vacationing cruises.

    • http://ndgoon.blogspot.com Goon

      citing a ABC news story that is basically regurgitating Obumble’s talking points.

      • Guest

        ABC, factcheck, and politifact all agree. http://www.politifact.com/truth-o-meter/article/2012/nov/02/cuts-medicare-anatomy-talking-point/ http://www.factcheck.org/2012/08/ryans-vp-spin/

        Of course, sh*theads like you will just keep denying anything that doesn’t conform with their pre-determined narrative.

        • Onslaught1066

          Of course they agree, they share the same opinion.

          As I have so graciously invited you in the past, please feel free to post a real fact.

          If, that is, you ever happen to stumble across one in your daily meanderings.

          • Guest

            Facts are no opinions, Onshat1066. Oh Onshat1066, you’re such a sh*thead!

          • Onslaught1066

            Any time you happen to stumble upon one, just lob it on in here.

            ya’ hear?

          • Guest

            The links for them were posted above. Oh Onshat1066, you’re such a sh*thead!

          • Onslaught1066

            Any ol’ time.

            Just lob it in there.

          • Guest

            The links for them were posted above. Oh Onshat1066, you’re such a sh*thead!

          • Onslaught1066

            Just lob it in there.

            Annnnny time now.

          • two_amber_lamps

            I’m losing faith in Comrade 7-11 to follow thru with the issuance of the “fact” you seek. Couldn’t even swing a dead cat and hit one… but his buddy ellinasty would certainly hit a dead cat.

          • Guest

            The links for them were posted above. Oh twoamberlights, you’re such a fat, stupid b*tch!

          • Guest

            The links for them were posted above. Oh Onshat1066, you’re such a sh*thead!

          • Onslaught1066

            Well?

            We’re waiting.

          • Guest

            The links for them were posted above. Oh Onshat1066, you’re such a sh*thead!

          • Onslaught1066

            Troubling things, facts, never around when you want one.

            Right, Gusty?

            No hurry, just post one if you ever stumble across one.

          • Guest

            The links for them were posted above. Oh Onshat1066, you’re such a sh*thead!

          • Onslaught1066

            ♪ ♫ ♪… Still waiting.

          • Guest

            The links for them were posted above. Oh Onshat1066, you’re such a sh*thead!

          • Onslaught1066

            Doesn’t even have to be a particularly important fact.

            Just some tidbit of factual information.

            Just lob it on in here.

          • Guest

            The links for them were posted above. Oh Onshat1066, you’re such a sh*thead!

          • Onslaught1066

            Perhaps I could lend you a fact, seeing as how you seem to be fresh out and all.

          • guest

            Speaking of sh*thead…

    • mickey_moussaoui

      give up while you are behind dum dum. The more you post the more lughs we get at your expense

      • Guest

        Wow, yet another post by you with absolutely no content and only name calling. No wonder your a conservative since you obviously have no capacity for anything besides hatred for others because you’re obviously so hated the best use of your time is to sit online anonymously insulting others. If you really wanted to make the world a better place, you’d end your life immediately.

        • mickey_moussaoui

          yawn…oh its you..hahahahaha

          • Guest

            Way to fart out the weakest possible response you could.

        • donwalk

          Was this statement of yours directed towards mickey_moussaoui or towards your latest posting?

          “Wow, yet another post by you with absolutely no content”
          Very appropriate?

          • Guest

            My post outlined Democrat reforms of Medicare and MIckey_Moussaousi has contributed nothing to the discussion besides his pathetic insults. You’re no different if you think otherwise.

          • donwalk

            Except there was absolutely no difference in your pathetic reply to his post!
            Subject: [ndsayanything] Re: Paul Krugman: Obama Should Solve The Budget Deficit By Making A $1 Trillion Coin

          • Guest

            If not posting anything substantive in response to post consisting entirely of name calling is deserving of enmity, perhaps you should scroll above to see that you’ve made no points beyond name calling while I made a point about Medicare cuts. Thanks again for bravely putting your severe mental disabilities and display for all to see. Although you’ve probably seriously considered suicide, please keep posting here so that others can have a good laugh and be comforted by the fact that there are people much, much stupider out there.

          • Bat One

            Your “point” is both irrelevant to this discussion of fiscal policy, and as usual unsubstantiated. Thanks for the “good laugh” though.

          • Guest

            You responded to a discussion about whether Mickey contributed anything to the discussion with his comment “give up while you are behind dum dum. The more you post the more lughs we get at your expense.” I was then criticized for posting an insult to that insult. A post then discussion about posting insults in response to insults therefore germane. It hard may be hard to live with your debilitating cognitive problems, but hopefully in the future you’ll have the better sense not to handicap others so that have to waste their time to explain such simple concepts to you. But yes, your stupidity gives everyone, apparently even yourself, a ‘good laugh,’ batsh*tinsaneone!!

          • Bat One

            Still don’t know the difference between a post and a comment, do you, kid? Slow learner.

            BTW this thread is about Paul Krugman’s fiscal policy suggestion, not some make believe Medicare reforms. Do try to pay attention.

    • slackwarerobert

      They won’t even cut the waste and fraud. When have they ever gotten the money back, they loose the money then we pay the fraudee for 3 squares a cot, and a college degree. And if the fraud is by his moochers, they give them a raise so they can pay the fines. The ONLY way you can cut the waste and fraud is to take the amount right off the top of their budget. Eventually you eliminate it, or the budget reaches zero and it won’t matter.

  • sbark

    Liberals, think about it———if deficits dont matter, and infinite govt spending doesnt matter, and the debt ceiling can be circumvented via the 14 amendment……….
    ……..then why bother taxing anyone at all–it just gets everyones underwear in a knot?
    You really dont even need that source of money, since printing does it for you 100%.
    Or is taxing people just another form of control and power?
    Why not just print all that is needed, just keep printing to infinitum to pay everyone on welfare, shouldnt be a problem since in your economic version of illiteracy deficits dont matter, Fed debt levels to any level dont matter……….
    just throw in a trillion dollar collectible Obama messiah coin now and then to keep er’ going…..

    • camsaure

      Kind of reminds me of years ago in the mall when I told the kids”we can’t afford this” they answered back, “why don’t you just write a check”? Happiy the kids have all grown up, unfortunately I guess the liberals have not.

      • Bat One

        That old blonde joke about “I can’t be overdrawn, I still have checks” is alive and well in liberal Washington, DC.

  • slackwarerobert

    So who would give him change when he tries to spend it? I wouldn’t take a fake coin that obama says is good, he has been lieing since he got in office. But if he does, you can bet the market will be flooded with counterfeit coins within weeks, I don’t know of any security features you can put in a coin. Just how many you need to make makes them not worth it.
    But he would need change because congress has only authorized a CR that needs about $300B. Once that runs out they haven’t authorized any more spending. And I will shoot them myself if they try and pass another CR after obama pulls this bs.

  • slackwarerobert

    Wonder what the fed will say when obama pays them back with his coin? What will china say when we pay them off as well? Good thing obama already got rid of our navy so they can’t sink it with their new aircraft carrier.

  • cylde

    It does not have to be platinum, it might as when be lead, that they are even talking about this farce is a measure of their contempt for the laws of economics and you.

    • slackwarerobert

      No plutonium, that way he will die a slow agonizing death from radiation poisoning.

  • slackwarerobert

    There is no “mandatory” spending. The supreme joke has already said they don’t have to pay you anything, SS is at the whim of congress. “Mandatory” is just a gimmick to hide them from voting to spend the money on the record. But at least someone in media finally admits we do not borrow money. They buy our soon to be worthless T-bills. We set the rate of interest, they can either buy them or not. So defaulting doesn’t cause interest to rise. I am curious, is there anything in the t-bills on rates if we default? If there is then we don’t have to worry they were told up front they were not safe investments. If not we don’t have to worry, they can’t sue us unless we allow them to sue us. Obama just says national security and they can’t do anything about it. He shafted the GM bond holders, it is the same thing.

  • $16179444

    Krugman is one of the poster children for the stupidity that are liberals.

  • slackwarerobert

    Oh, No. Obama has a problem. Congress must approve the coins design. He may be able to make the coin, but he still needs congress to approve the design of it. Remember the “state” quarters.

  • Will

    Isn’t this bypassing the separation of powers challengable to the supreme court?

    • slackwarerobert

      And what do you think those loons will do about it? “Ohh that wasn’t legal tender, you have to get the money back” They ruled clinton was using chinese campaign funds, and he never gave the money back either. No it is up to the people to remove him if he tries.

  • Stan

    Mr. Port, while I agree that printing money out of thin air is not the solution, I also disagree that reducing the size of government will resolve our issues. What we need to do is to stop obscuring the ‘big picture’ and start addressing the real spending problems, namely the defense budget and corporate welfare. These are the big ticket items that are being ignored. So if you choose to stand behind a thin vail, at least have the integrity to justify your comments.

    • http://sayanythingblog.com Rob

      I’m not sure what your point is. We can quibble over where to cut (I’m fine with the areas you mention), but spending cuts are making the government smaller.

      You’re agreeing with me.

  • Stan

    Rob, thank you for the response. Are you saying that you agree that defense spending and corporate welfare need to be drastically cut, or are you eluding to a belief that the items you spearheaded, Social Security and Medicare are the big ticket items that should be cut. Is this what you meant by quibbling?

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