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It's Come to This: GOP Rep Introduces Bill to Block Trillion Dollar Coin Scheme

McGovern Wrote: Jan 08, 2013 6:19 PM
Are any of you my age? Ready to retire? Do you remember those great years between 1968 and 1980? Remember earning 12% interest on savings accounts? Remember getting 10% - 15% raises every year? Remember going broke going to the gas station (when they had gas) or going to the grocery store? Just wait. We haven't seen anything yet. When this spending works its way through the system, we are going to see the dollar plummet in buying power. Your bank account won't be worth the paper on which your bank statement is printed.
McGovern Wrote: Jan 08, 2013 6:20 PM
I remember an ad from the 1960s telling how you be set for life.

You could buy an annuity which would pay you $300 a month for the rest of your life! And at the time, that seemed like quite a good deal.

I humbly proffer the ultimate companion piece to this morning's item, which quoted the President Obama expressing his irritation over John Boehner's incessant carping about some "government spending problem" the president is convinced doesn't really exist.  Ladies and gentlemen, it has indeed come to this:

Lawmakers are still positioning themselves for a debt ceiling fight in a few months, but one Republican congressman wants to snuff out a particular idea immediately: the U.S. Treasury minting $1 trillion platinum coins to avert a debt ceiling showdown. Rep. Greg Walden (R-Ore.) has introduced a bill to...