Tuesday, January 08, 2013

I Know It Won't Happen

No I don't think a trillion dollar coin will be minted, but it's clearly legal and mostly harmless. I don't have an opinion about the politics - whether the Obama admin should publicly acknowledge that it's in their toolbox - but if the options are "negotiate over debt ceiling" versus platinum coin, platinum coin clearly rules.

Just raise the debt ceiling is best.
Threaten to use coin if debt ceiling isn't raised, then debt ceiling is raised is second best.
Third best is mint the damn coin and tell Congress to suck on it.
Fourth best is continuing the idea that the debt ceiling is something to be negotiated over, and coming to some sort of "deal."
Fifth best is can't pay bills and default.