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Good News: Treasury, Fed Both Rule Out Trillion Dollar Coin

Zak8 Wrote: Jan 13, 2013 4:11 PM
Not sure why its good news. Currently the biggest holders of US debt are government pension plans and the US federal reserve. Obama is threatening to withhold payment to the pension plans to get the elderly against the Republicans. I'm not sure if people appreciate how truly evil Obama is. m.upi.com/story/UPI-31621357021885/ http://www.federalreserve.gov/releases/h41/current/h41.htm

The fact that high-level government officials even needed to address this issue at all should tell you how high over the shark American politics has jumped. But the Department of Treasury today did indeed comment on the "trillion dollar platinum coin" lunacy, and rejected the idea that the White House had seriously considered such a "solution" to the debt crisis. Ezra Klein at WaPo reports:

That’s the bottom line of the statement that Anthony Coley, a spokesman for the Treasury Department, gave me today. “Neither the Treasury Department nor the Federal Reserve believes that the law...