White House Refusing To Rule Out Trillion Dollar Coin Idea

1-trillion-platinum-coin

Just in case you thought the “trillion dollar coin” plot to bypass Congress debt ceiling was just a silly academic exercise, here’s White House Press Secretary Jay Carney refusing to rule the idea out no fewer than five different times.

Just remember, most of the people pushing the “trillion dollar coin” idea, wherein the President would avoid a showdown with Congress over the debt ceiling by inventing $1 trillion worth of money represented by one coin, think Sarah Palin is stupid.

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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  • WOOF

    The Commemorative Celebratory Coin.

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

    Since it will be the crowning achievement of the Obama administration, we can call it the Freddie Krugerrand http://proof-proofpositive.blogspot.com/2013/01/new-trillion-dollar-u-s-coin-freddie.html

    http://oi46.tinypic.com/52nfgg.jpg

  • yy4u2

    They party like rock stars but govern like porn stars; everyone gets f…. A few more adults in the halls of Congress would be nice compared to the gang of children in there now.

  • Patrick R. Pfeiffer

    When Bernie Madoff did it they got mad. He went to jail.

  • http://pocketjacksblog.blogspot.com Jay W.

    Is there anyone anywhere (outside of a few pundits) who think this is a serious idea?

    • http://sayanythingblog.com Rob

      If the White House won’t rule it out, it has a degree of seriousness I guess.

      • http://pocketjacksblog.blogspot.com Jay W.

        I don’t think I was clear. I mean, does anyone really think this is an idea that has a chance of solving the problem. “Serious” was too vague an adjective.

        I wrote elsewhere (Facebook):

        God, I hope they do try this. It will be illuminating as to the seriousness of the administration about the debt and a litmus test for intelligence for all people, everywhere.

        Now, I can’t think of anyone I know who would seriously think this is a good idea, but just in case I’m forgetting someone… if you could erase the deficit by minting a trillion-dollar coins–although at this point we would actually need 16 of them–then explain in 50 words or less why the government needs to collect taxes.

        • http://sayanythingblog.com Rob

          Well, as I noted in the post, remember that most of the people seriously considering the “trillion dollar coin” idea think Sarah Palin is stupid.

        • Mike Adamson

          I think its crazy but no crazier than not honouring financial commitments and risking a default.

  • Spartacus

    Go ahead and mint it…Meanwhile I and the rest of us that possess rudimentary math skills will quietly move our life savings out of the U.S. to tax free havens and convert our dollars into a stable form of currency… and meanwhile invest the leftovers in copper and lead. Losers will continue to invest in 0bama and his policies.

  • JustRuss

    Liberals I’ve argued with over this all say basically the same thing, “The US can’t default! It’s just money, we can always print whatever we need. Inflation might happen later but there are people starving NOW!”

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