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Tue Jan 8, 2013, 10:14 AM

Obama won't "mint the coin" because it's just not his style

(In case anybody's dying for my opinion on the topic)

I personally think "mint the coin" is a plausible strategy. There are good arguments for it, my favorite being the vein of "an extreme response to uphold our constitutional obligation to pay our debts in the face of GOP extremist obstruction"

But I just don't think it's in Obama's character to do something that flashy and/or gimmicky. He's committed to trying to get the Federal govt to work "like it was meant to work" - to a fault, given the borderline-insane nature of his opposition.

Now, just because I predicted he won't do it, it will happen. Not that I'd mind.

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Response to phantom power (Original post)

Tue Jan 8, 2013, 10:16 AM

1. When has he ever taken the easy road?

Even when it was probably the best route to take?

Am I wrong to say never?

(I absolutely agree with you on this one.)

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Response to phantom power (Original post)

Tue Jan 8, 2013, 10:17 AM

2. I wish he would become the tyrant they think he is in term two. Not a chance. nt

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Response to phantom power (Original post)

Tue Jan 8, 2013, 10:17 AM

3. I agree--he is completely invested in the legislative process working

the way it's supposed to. I would be surprised if he did this.

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Response to TwilightGardener (Reply #3)

Tue Jan 8, 2013, 12:30 PM

7. utterly hypothetical, but I can easily imagine LBJ minting the coin

of course, he governed in a political environment that was rather sane compared to ours, so he'd never have needed to. But I think he'd be the type to go for it.

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Response to phantom power (Original post)

Tue Jan 8, 2013, 10:21 AM

4. that doesn't mean it won't factor into the negotiations.

all obama needs to do is have a few subordinates drop a few hints that they are looking at the idea.

this effectively undermines the republican negotiating position and prevents them from being inflexibly impossible about the debt ceiling.

assuming the negotiations then proceed in a fashion that passes for civil these days, then that's that.

most presidents would prefer this sort of approach in part because it keeps the coin threat in his back pocket, as it were, untested and therefore available for future use.


as with any negotiating weapon, you usually want to see if the threat alone does the job, before you actually use it.

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Response to unblock (Reply #4)

Tue Jan 8, 2013, 12:26 PM

5. good point, the possibility of doing it can be useful whether it happens or not

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Response to phantom power (Original post)

Tue Jan 8, 2013, 12:28 PM

6. It isn't going to get minted and never was going to be. eom

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Response to phantom power (Original post)

Tue Jan 8, 2013, 12:49 PM

8. If it were I, they would already be minted. 100 trillion face vallue of them

with Reagan's pic on the front. And when they get to the sequester, get the corporations to pay taxes by closing all their loopholes (deductions) and taxing foreign companies that do business here the same way domestic businesses are done, but step up enforcement to eventually bring them back to the US. Oh, and have James Bond type spies and hackers steal all American money in Swiss and Cayman type bank accounts.

Enough bullshit. Everyone pays taxes. If 5 percent own 90 percent of the economy, then they pay 90 percent of the taxes and the other 95 percent pay only 10 percent.

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