In response to:

Insane: Liberals Contemplate $1 Trillion Platinum Coin to "Solve" Debt Limit Issue

didgemaster Wrote: Dec 08, 2012 5:00 PM
so who will be on the coin? Jimmy Carter? Millard Filmore?
byeBarry Wrote: Dec 08, 2012 5:06 PM
Most likely the hussein, got to be PC!
SCLiberal Wrote: Dec 08, 2012 5:06 PM
It won't be a true coin, the fed can simply type 1 trillion on a keyboard, hit enter and then transfer that money to the SSI fund. It never hits economy and our debt instantly declines.
nodeamass Wrote: Dec 08, 2012 5:10 PM
It could slow down the mass infection of FCDR(Fiscal Cliff Derangement syndrome).
SCLiberal Wrote: Dec 08, 2012 5:20 PM
i agree. Call me crazy, but I'm almost in favor of the fiscal cliff. At the same time, we could probably delay it a year or three to stave off the pain until we can better absorb it, but any Simpson/Bowles type agreement will have similar provisiones in it, so I don't get all the hype the Fiscal Cliff has generated. I tend to ignore the news and try to focus on which member of government is going to propose the sound fiscal policies to help bring down our long term debt problems without harming our fragile recovery in the short term.
psydoc Wrote: Dec 08, 2012 5:35 PM
I agree, the fiscal cliff talk is hype.

The problem is, both republicans and democrats are claiming it is armageddon. If taxes go up for everyone, we are likely going to go further into this recession/depression.

If taxes go up on the wealthy, and $200k/yr is not wealthy, we are likely to go further into this recession/depression.

If nothing is done, we are likely to go further into this recession/depression.

So, what is the answer? Cut all non-essential grubrmnt spending, but neither party will do that, they are too cowardly to actually do something good for the country as a whole.
SCLiberal Wrote: Dec 08, 2012 5:41 PM
I agree, we're going to have to agree to some tax raises, broaden the base, and collect some more revenues and at same time attack spending and try to slow the rate of growth of gov't spending. The big question seems to be when to do it, not that we have to do it. Both sides seem to see the need for a grand bargain, now it's just working around the edges to see what gets raises, what gets cut and when.
psydoc Wrote: Dec 08, 2012 6:06 PM
Now see, when people stop calling other people names, a liberal and a conservative can have an intelligent discussion.

I do disagree in one respect. We need to do more than just work around the edges to see what gets increased and what gets cut. If this is going to continue to be the United States of America, everyone is going to have to feel some cuts.
nodeamass Wrote: Dec 08, 2012 5:03 PM
byeBarry Wrote: Dec 08, 2012 5:06 PM

Welcome to Zimbabwe.  This is not a parody -- it is an actual report from the Washington Post:
 

Some economists and legal scholars have suggested that the “platinum coin option” is one way to defuse a crisis if Congress can’t or won’t lift the debt ceiling soon. At least in theory. The U.S. government is, after all, facing a real problem. The Treasury Department will hit its $16.4 trillion borrowing limit by next February at the latest. Unless Congress reaches an agreement to raise that borrowing limit, the government will no longer be able...

Related Tags: Debt Limit Inflation