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

SCLiberal Wrote: Dec 08, 2012 4:29 PM
It worked in 1940-1945 when serious spending tool hold. We came out of that a new country. And imagine if instead of spending on bombs that lasted 2 seconds, we spent it on things that lasted 50 years like R&,D, infrastructure, education, etc.. It also worked in 1981 when Reagan ran up similar deficits, giving us another 20 year boom that just wore off, leaving us with a nice credit card bill.

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