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Well....I seriously doubt that.....but then again I didn't retire on the taxpayers dime.A lot of people, and certainly most whacko ignorant republicans, would call you a communist for working for the government for decades before you retired on the taxpayers dime.
What a creative and intelligent idea.Now here's an old/new idea. 1 trillion dollar coin and f'k Congress.
Senate Minority Leader Mitch McConnell has firmly dug in on refusing GOP help to renew the US's ability to pay off its bills, known as the debt ceiling. Instead, the Kentucky Republican said it's up to Democrats to raise it in order to finance their social spending plans on healthcare, education, and childcare. He insists he's not "bluffing."
But the conundrum could have a coin-sized solution. A loophole in the law that prescribes the types of coins that can legally be minted in the US theoretically allows the Treasury Department to mint a $1 trillion platinum coin, deposit it at the Federal Reserve, and then continue paying its bills as normal.
In the Obama era, several economists and commenters noted a potential workaround to the debt limit. The law that governs the types of coins that the Treasury Department is legally allowed to mint includes descriptions of typical coins like dimes, nickels, and quarters, as well as special commemorative and collectors' coins, like a palladium $25 coin.
The law includes this clause: "The Secretary may mint and issue platinum bullion coins and proof platinum coins in accordance with such specifications, designs, varieties, quantities, denominations, and inscriptions as the Secretary, in the Secretary's discretion, may prescribe from time to time."
That clause leaves it up to the Treasury Secretary to decide on the denomination for a platinum coin, meaning in theory, Yellen could carve out the amount required and Congress could get on with more pressing business.
Of course, Treasury officials have long ruled out using the trillion-dollar platinum coin as a solution to the debt ceiling, arguing that Congress should do its job and raise the ceiling itself.
You're in the majority in Congress and have the Sock Puppet in the WH, and you're whining about Turtles McConnell???Republicans have no problem with weaponizing the rule book when it suits them. If that's what it takes to keep them from holding the nation hostage again it should be done.
It sounds like disrespect that creates a war between men from whom assets are stolen by a big gang of brainwashed who are out to destroy other peoples' happiness and well-being by charging up apparatchiks with animosity against another group of people.Uh....the purpose of all of this massive spending is to raise the debt....so paying the debt isn't ever going to happen.
No.....they'll just use the debt to raise taxes so they can stifle the economy and cause another economic collapse.
You act as though they'd be "released" somewhere other than our economy. Inflation is here and we're on the front edge of a wave of uncertain height. I refuse to believe that the Pols in DC are stupid enough to believe they can literally create a limitless amount of funding for their vote-buying, self-enrichment plans and not have the dollar collapse as a result. That means they KNOW it's coming and they are willing to see it happen.Would it be inflationary? Given that it wouldn't be in circulation, as it were...and the release of the funds based on the coin would be indistinguishable from the normal spending by the Fed.--probably not-
Nonsense. What is the actual value of a quarter?To start with platinum is $949.65/oz USD at the moment I write this. To arbitrarily assign a value other than that is nonsense. The damn thing might just as well be printed on copy paper or stamped from aluminum.
Call this the Weimar or Zimbabwe option.
Long winded RWNJ QAnon garbageIt sounds like disrespect that creates a war between men from whom assets are stolen by a big gang of brainwashed who are out to destroy other peoples' happiness and well-being by charging up apparatchiks with animosity against another group of people.
The Democrats have misinterpreted laws out the wazoo to kill off the next generation, all to make themselves masters of one huge slave class that has no children, grandchildren, and kinfolks to help them out when they are old., and those whose families do unite against the "gang" are merely eliminated with jail terms for exercising their guaranteed freedoms in a Constitution they have torn up with a great big Cheshire grin like evil Nancy's public climax the night she tore up free peoples popular President.
This is a time of dismay for the free world. Our Constitution was written for a people dedicated to live free. Our freedoms started disappearing after 1914 when the American people were called upon to pay for a war in Europe by initiating taxes on the common man. While we were helping refugees of WWI, it resulted in gangs seeking a way to set up an oligarch with themselves as the beneficiaries. We now refer to enemies of our Constitution as the Deep State mob that has funded itself through our Foreign programs that send billions of dollars to countries of free people like the Ukrainians undergoing genocide by Russia that has apparently killed its opposition by sending the KGB in to kill off the Ukrainians who served as a breadbasket to those Russia wishes to cease existance. Stalin and his bullies got rid of farmers in the Ukraine for breaking off slavery to join the free marketplace their hard work and Putin seems interested in starving them out once again by controling America's Deep state with under the table enrichment by giving money to their fellow communists like Hillary Clinton, Nancy Pelosi, Bernie Sanders, and the sneak, Joe Biden who got himself elected President using sympathetic precinct chairpeople to wash out Republican winners and place Commies in Congress and now the White House. They got communist support by paying the reporters for sale to the Fourth Reich that sells its loyalty to the highest bidders in Foreign countries who have no compunctions about using a billion slaves to make and sell cheap and also shoddy merchandise to people who overlooked poisened dog food, baby formulas, and now, poisonous drugs that killed four to six hundred American yoithful drug buyers per week. All drug cartels have to do to become richer than their country's leaders is to furnish Democrats running for public office with lots and lots of payoff money to buy precinct chairpeoples collusion to eliminate Republican votes and divert them to Democrat candidates. I hate this operation that has well paid friends who like lots of free, untaxed money to do simple felonies for the Democrats every other year when elections roll around.
And all is covered by omeurta dictated by experts in criminal takeovers who have been well trained by Universities whose faculties train new acolytes easy to fool in books written by masterminds and their cronies in this Great American Heist. They had to get rid of Kennedy and Nixon because both of them were Conservatives. They also got rid of Trump who keeps coming back for more. Who will win?
What the fuck are you talking about?Do lefties really think that the democrat sponsored six volume 3 trillion bill is about "paying bills"? If so I'll give you another bill for the Brooklyn Bridge.
Well, not really. Congress can set any dollar amount a coin may be worth, yes. They cannot assign value though, no matter what any document states. The market assigns value which is part of the problem with minting a trillion dollars out of nothing, the extra supply of dollars pushing up against the decreased supply of goods is going to drive that value down no matter what congress may think about it.Nonsense. What is the actual value of a quarter?
Congress can assign any value to a coin it deems appropriate. That’s per the Constitution
That being said the optics are not great. It won’t happen
Yeah, that wouldn't have any negative side effects like devaluing the $ and causing the economy to crash.Now here's an old/new idea. 1 trillion dollar coin and f'k Congress.
Senate Minority Leader Mitch McConnell has firmly dug in on refusing GOP help to renew the US's ability to pay off its bills, known as the debt ceiling. Instead, the Kentucky Republican said it's up to Democrats to raise it in order to finance their social spending plans on healthcare, education, and childcare. He insists he's not "bluffing."
But the conundrum could have a coin-sized solution. A loophole in the law that prescribes the types of coins that can legally be minted in the US theoretically allows the Treasury Department to mint a $1 trillion platinum coin, deposit it at the Federal Reserve, and then continue paying its bills as normal.
In the Obama era, several economists and commenters noted a potential workaround to the debt limit. The law that governs the types of coins that the Treasury Department is legally allowed to mint includes descriptions of typical coins like dimes, nickels, and quarters, as well as special commemorative and collectors' coins, like a palladium $25 coin.
The law includes this clause: "The Secretary may mint and issue platinum bullion coins and proof platinum coins in accordance with such specifications, designs, varieties, quantities, denominations, and inscriptions as the Secretary, in the Secretary's discretion, may prescribe from time to time."
That clause leaves it up to the Treasury Secretary to decide on the denomination for a platinum coin, meaning in theory, Yellen could carve out the amount required and Congress could get on with more pressing business.
Of course, Treasury officials have long ruled out using the trillion-dollar platinum coin as a solution to the debt ceiling, arguing that Congress should do its job and raise the ceiling itself.
It is always funny to see cash like this. Have some old pesos like that. It is an indication of how far off the rails you have gone when you have to use numbers that are just asininely large. 50 trillion, what a joke.
Okay, when was the last tax cut for billionaires? You dip shits keep spewing this talking point like mindless drones so put up or shut up fool.More tax cuts for the billionaires will get that debt paid off in no time.
No its working just fine for the Republicans, there keeping the pot stirred the hate & anger at full tilt.Refusing to pay for stuff that has already been approved by congress is stupid and has never worked out for the republicans but they seem to really like holding a gun to the nation's credit rating.
Deflation is a beautiful thingIt is always funny to see cash like this. Have some old pesos like that. It is an indication of how far off the rails you have gone when you have to use numbers that are just asininely large. 50 trillion, what a joke.
Although, it seems the central bank of Zimbabwe will give you 40c for that 50 trillion
No, the idea far predates her.Didn’t AOC propose this dumb idea?
