Now is not the time to mint $1 trillion platinum coin to avoid debt limit

for the unconventional and effective measures it has taken to support the economy and the labor market.

A coin issuance that prevents US default but makes it more difficult to obtain bipartisan support for quality Fed nominations and policies would still have significant negative economic effects compared to cleanly raising the debt ceiling. It's best if we can keep the Fed out of this.There is some good news for Democrats here.

A strategy that does not rely on Republican votes at all creates an opportunity for Democrats to design the debt limit increase without any Republican buy-in. This means they could use Republican intransigence as an opportunity to effectively abolish the limit by raising it to so high a level it would never be breached in our lifetime — the limit could be set at a quintillion dollars, for example.

Supporters of republican presidential candidate former Massachusetts Gov. Mitt Romney stand next to a national debt clock during a rally at Exeter High School on January 8, 2012 in Exeter, New Hampshire.Such a move would prevent Republicans from holding the economy hostage by tying up the debt limit in the future.

Pursuing such a move would also create the leverage Democrats have sorely lacked in these negotiations. Why should Republicans cooperate in raising the debt ceiling when Democrats are trying to spend money Republicans don't want to spend? Well, maybe because Republicans don't want to effectively get rid of any debt limit at all.

jbarro This is so ridiculous to me... I'm all about my NeoBank and Crypto...This is so archaic. The trillion dollar trinket, like why tho!? Invest your money in trusted hands like AspirationBank and ESG Inflation USD Enviroment FossilFuels GreenBank $IPVF $ASP ClimateCrisis

jbarro

jbarro wow

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Biden says he can't guarantee debt ceiling lift due to 'hypocritical, dangerous and disgraceful' GOP oppositionPresident Joe Biden on Monday said he couldn't guarantee the debt ceiling would be raised in two weeks as he slammed Republicans for opposing efforts to keep the nation from being unable to pay its debts for the first time in its history. No one wants to bring up the fact that the Fed is a foreign owned private bank printing debt as money. Truth hurts so will getting rid of GOP for a party that loves it's country not attacks it January 6 insurrectionist seditious republican party Worst reaction time (no reaction from you yet) ever for a developing worldwide event. Facebook is down everywhere. Where is CNN?
Source: cnnbrk - 🏆 393. / 55 Read more »

Effort to raise debt limit resets after Senate GOP blocks weeks from defaultHouse Democrats are continuing efforts to raise the debt ceiling in order to avoid the U.S. from defaulting on the national debt. Trump & Trumplicans' aim is to sow the seed of doubt in people's minds so that they slowly begin to distrust almost everything & thru the distrust slowly create a state of chaos & confusion to divert the people's attention away from their intention to tear America apart. When Trump & his supporters only listen to the lies they tell themselves & one another & the lies are the ties that bind them then 'hitting bottom' & only then will they open their eyes to the lies they have told themselves & to others. Lies are their cunning baffling addiction. Strip away Trump's Talibanization of America!
Source: Newsweek - 🏆 468. / 52 Read more »

Column: The problem isn't raising taxes, it's spending, spending, spendingThe debt is real. If Americans are taxed to pay for the trillions already spent, they'd be less likely to say spend more. opinion nice opinion Tax the rich and reduce the military budget by what Afghanistan was costing us. Done. opinion *selectively getting outraged over spending. Fixed it for ya
Source: latimes - 🏆 11. / 82 Read more »