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Are there other ways for the president to raise money besides borrowing?
Sovereign governments such as the United States can print new money. However, there's a statutory limit to the amount of paper currency that can be in circulation at any one time.
Ironically, there's no similar limit on the amount of coinage. A little-known statute gives the secretary of the Treasury the authority to issue platinum coins in any denomination. So some commentators have suggested that the Treasury create two $1 trillion coins, deposit them in its account in the Federal Reserve and write checks on the proceeds.
The government can also raise money through sales: For example, it could sell the Federal Reserve an option to purchase government property for $2 trillion. The Fed would then credit the proceeds to the government's checking account. Once Congress lifts the debt ceiling, the president could buy back the option for a dollar, or the option could simply expire in 90 days. And there are probably other ways that the Fed could achieve a similar result, by analogy to its actions during the 2008 financial crisis, when it made huge loans and purchases to bail out the financial sector.
The "jumbo coin" and "exploding option" strategies work because modern central banks don't have to print bills or float debt to create new money; they just add money to their customers' checking accounts.
3 ways Obama could bypass Congress - CNN.com
"Three ways obama can bypass Congress"
You assholes are communists. Anti American connunists.
Wiggling, squirming, screaming......nope. The answer is to quit spending and pay off debt.
I see that the House Republican Caucus freak show is still going on. Well, maybe there's a workaround solution to temporarily solve the problem that's at hand. If one of the following options is actually tried (because it's necessary to do something), I can already hear the conservative caterwauling that would ensue.
Are there other ways for the president to raise money besides borrowing?
Sovereign governments such as the United States can print new money. However, there's a statutory limit to the amount of paper currency that can be in circulation at any one time.
Ironically, there's no similar limit on the amount of coinage. A little-known statute gives the secretary of the Treasury the authority to issue platinum coins in any denomination. So some commentators have suggested that the Treasury create two $1 trillion coins, deposit them in its account in the Federal Reserve and write checks on the proceeds.
The government can also raise money through sales: For example, it could sell the Federal Reserve an option to purchase government property for $2 trillion. The Fed would then credit the proceeds to the government's checking account. Once Congress lifts the debt ceiling, the president could buy back the option for a dollar, or the option could simply expire in 90 days. And there are probably other ways that the Fed could achieve a similar result, by analogy to its actions during the 2008 financial crisis, when it made huge loans and purchases to bail out the financial sector.
The "jumbo coin" and "exploding option" strategies work because modern central banks don't have to print bills or float debt to create new money; they just add money to their customers' checking accounts.
3 ways Obama could bypass Congress - CNN.com
I see that the House Republican Caucus freak show is still going on. Well, maybe there's a workaround solution to temporarily solve the problem that's at hand. If one of the following options is actually tried (because it's necessary to do something), I can already hear the conservative caterwauling that would ensue.
Are there other ways for the president to raise money besides borrowing?
Sovereign governments such as the United States can print new money. However, there's a statutory limit to the amount of paper currency that can be in circulation at any one time.
Ironically, there's no similar limit on the amount of coinage. A little-known statute gives the secretary of the Treasury the authority to issue platinum coins in any denomination. So some commentators have suggested that the Treasury create two $1 trillion coins, deposit them in its account in the Federal Reserve and write checks on the proceeds.
The government can also raise money through sales: For example, it could sell the Federal Reserve an option to purchase government property for $2 trillion. The Fed would then credit the proceeds to the government's checking account. Once Congress lifts the debt ceiling, the president could buy back the option for a dollar, or the option could simply expire in 90 days. And there are probably other ways that the Fed could achieve a similar result, by analogy to its actions during the 2008 financial crisis, when it made huge loans and purchases to bail out the financial sector.
The "jumbo coin" and "exploding option" strategies work because modern central banks don't have to print bills or float debt to create new money; they just add money to their customers' checking accounts.
3 ways Obama could bypass Congress - CNN.com
Ask yourself a couple of important questions before you start knee jerking cliches stud.
1. Do we need to put a cap on reckless federal spending?
2. Would democrats, including Barry Hussein, even consider what has happened to the national debt in the last two years if republicans hadn't been elected to the majority in congress?
3. Can we tax and spend our way out of this mess and continue to treat the private sector as if it was the enemy?
While you are thinking of some clever media matters line I'll give you the answers, yes, no, no.
"Three ways obama can bypass Congress"
You assholes are communists. Anti American connunists.
It doesn't have anything to do with communism.
