HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » Politics 2014 (Forum) » TRILLION-DOLLAR COIN?
Introducing Discussionist: A new forum by the creators of DU

Wed Jan 9, 2013, 10:52 PM

TRILLION-DOLLAR COIN?

TRILLION-DOLLAR COIN?

The White House isn't ruling out the possibility of minting a trillion-dollar coin as a way of raising the debt ceiling over Republican objections.

Some people call it an accounting gimmick, but, since it would prevent the GOP from shutting down the government, I call it a good idea.

HEADS, the Democrats win - TAILS, the Republicans lose!

15 replies, 1362 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread

Response to JEFF9K (Original post)

Wed Jan 9, 2013, 10:59 PM

1. Put Reagan on it--that'll fix their little red wagons!

Reply to this post

Back to top Alert abuse Link here Permalink


Response to MADem (Reply #1)

Wed Jan 9, 2013, 11:08 PM

2. Excellent!

Outstanding!

Reply to this post

Back to top Alert abuse Link here Permalink


Response to MADem (Reply #1)

Thu Jan 10, 2013, 01:06 AM

7. +1

Reply to this post

Back to top Alert abuse Link here Permalink


Response to JEFF9K (Original post)

Wed Jan 9, 2013, 11:26 PM

3. "Accounting gimmick" and "good idea" aren't mutually exclusive

The idea is ridiculous but benign. The idea of letting the country default on debt is ridiculous and harmful.

The President would be impeached over it, which would be ridiculous and petty (but all but certain). He wouldn't be convicted, though.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Orangepeel (Reply #3)

Wed Jan 9, 2013, 11:46 PM

4. I don't think he can be impeached for this...

From what I gather, particularly from a letter by the former Director of the U.S. Mint, this is all perfectly legal has decades of precedent. For impeachment, there must be "high crimes and misdemeanors."

Pissing off the GOP hardly rises to that level. That being said, the House GOP will certainly try, and I hope they do.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Jeff In Milwaukee (Reply #4)

Thu Jan 10, 2013, 12:03 AM

5. He'd never be convicted, of course, but the House GOP trying is all that is necessary to impeach

The definition of a high crime or misdemeanor is whatever 218 reps say it is. It would be a travesty and a farce, but I really think they would do it over the trillion dollar coin.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Orangepeel (Reply #5)

Thu Jan 10, 2013, 10:05 AM

11. That's true...

The House can (and would) impeach him if Bo did his business on the White House lawn. But the Senate would never convict him.

I like the idea of impeachment. It did wonders for Clinton's popularity, and he didn't even have the moral high ground in that discussion -- unlike the position Obama would be in. Congress wants to impeach him for saving the United States from bankruptcy after Congress refused to act?

Shit. Something like that could get him a third term.

Note to armchair constitutional scholars: Yeah, yeah, yeah.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Jeff In Milwaukee (Reply #4)

Thu Jan 10, 2013, 08:40 AM

9. That won't stop the Republicans

They'll use the potential impeachment to gin up the anger in their base, drive up donations, etc.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to JEFF9K (Original post)

Thu Jan 10, 2013, 12:34 AM

6. "there is no alternative to Congress raising the debt ceiling" - Jay Carney today

sounds pretty ruled-out to me.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to JEFF9K (Original post)

Thu Jan 10, 2013, 07:36 AM

8. The "Debt Ceiling" is a gimmick. The $1T coin is an anti-gimmick. nt

Reply to this post

Back to top Alert abuse Link here Permalink


Response to bemildred (Reply #8)

Thu Jan 10, 2013, 10:14 AM

14. I'm not sure this is what we want.

 

Could you imagine the next Republican in the White House with the ability to spend anything he wants by just minting more coins? You think they've started wars in the past. Wait until they have unlimited funds.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to JEFF9K (Original post)

Thu Jan 10, 2013, 08:42 AM

10. I thought the White House had ruled this idea out?

Have they changed?

Reply to this post

Back to top Alert abuse Link here Permalink


Response to NewJeffCT (Reply #10)

Thu Jan 10, 2013, 10:07 AM

12. They shouldn't (even if they have)

For sake of not causing a mini-crash on Wall Street, the official line from the White House should be something to the effect of "We will not allow Congress to shirk its duty, and the White House is prepared to take whatever action is necessary to prevent a default by the United States government."

Translation: If Congress can't/won't do it, the President will.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Jeff In Milwaukee (Reply #12)

Thu Jan 10, 2013, 10:14 AM

13. I agree that they shouldn't take it off the table

but, you know how the Obama WH works - they prenegotiate these things by taking the best options off the table ahead of time (single payer in the healtcare debates)

Reply to this post

Back to top Alert abuse Link here Permalink


Response to JEFF9K (Original post)

Thu Jan 10, 2013, 12:54 PM

15. Would like to see Lady Liberty on one side and the Twin Towers on the other.

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread