GOP Rep. To Introduce Bill To Stop Treasury From Creating Trillion Dollar Coins

[Capt. Obvious]

Rep. Greg Walden (R-OR) on Monday announced that he will introduce a bill to stop the much-ballyhooed proposal for the U.S. Treasury Department to mint trillion dollar platinum coins in an effort to avoid the debt ceiling.

The statement:

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Within the last week, numerous media reports (example here) have suggested that the U.S. Mint could create trillion dollar platinum coins, which would then be deposited into the Federal Reserve to be used to pay the federal government’s bills or avoid hitting the debt ceiling. Rep. Jerrold Nadler, the ranking member of the Judiciary Committee’s Subcommittee on the Constitution, touted the proposal last week (storyhere). New York Times columnist and Princeton professor Paul Krugman suggested the idea in an article as well (click here). Other leaders in Washington, including House Minority Leader Nancy Pelosi, have urged the President to raise the debt limit unilaterally without permission from Congress.

http://livewire.talkingpointsmemo.com/entry/gop-rep-to-introduce-bill-to-stop-treasury

[Capt. Obvious]

1. I think this is the plot for the upcoming Austin Powers movie