TRILLION-DOLLAR COIN?

[JEFF9K]

TRILLION-DOLLAR COIN?

The White House isn't ruling out the possibility of minting a trillion-dollar coin as a way of raising the debt ceiling over Republican objections.

Some people call it an accounting gimmick, but, since it would prevent the GOP from shutting down the government, I call it a good idea.

HEADS, the Democrats win - TAILS, the Republicans lose!

[MADem]

1. Put Reagan on it--that'll fix their little red wagons!

Here's the link for that image: http://theweek.com/article/index/238501/debt-ceiling-fight-who-should-be-on-the-1-trillion-platinum-coins

[JEFF9K]

2. Excellent!

Outstanding!

[SunSeeker]

7. +1

[Orangepeel]

3. "Accounting gimmick" and "good idea" aren't mutually exclusive

The idea is ridiculous but benign. The idea of letting the country default on debt is ridiculous and harmful.

The President would be impeached over it, which would be ridiculous and petty (but all but certain). He wouldn't be convicted, though.

[Jeff In Milwaukee]

4. I don't think he can be impeached for this...

From what I gather, particularly from a letter by the former Director of the U.S. Mint, this is all perfectly legal has decades of precedent. For impeachment, there must be "high crimes and misdemeanors."

Pissing off the GOP hardly rises to that level. That being said, the House GOP will certainly try, and I hope they do.

[Orangepeel]

5. He'd never be convicted, of course, but the House GOP trying is all that is necessary to impeach

The definition of a high crime or misdemeanor is whatever 218 reps say it is. It would be a travesty and a farce, but I really think they would do it over the trillion dollar coin.

[Jeff In Milwaukee]

11. That's true...

The House can (and would) impeach him if Bo did his business on the White House lawn. But the Senate would never convict him.

I like the idea of impeachment. It did wonders for Clinton's popularity, and he didn't even have the moral high ground in that discussion -- unlike the position Obama would be in. Congress wants to impeach him for saving the United States from bankruptcy after Congress refused to act?

Shit. Something like that could get him a third term.

Note to armchair constitutional scholars: Yeah, yeah, yeah.

[NewJeffCT]

9. That won't stop the Republicans

They'll use the potential impeachment to gin up the anger in their base, drive up donations, etc.

[yodermon]

6. "there is no alternative to Congress raising the debt ceiling" - Jay Carney today

sounds pretty ruled-out to me.

[bemildred]

8. The "Debt Ceiling" is a gimmick. The $1T coin is an anti-gimmick. nt

[Bonduel]

14. I'm not sure this is what we want.

Could you imagine the next Republican in the White House with the ability to spend anything he wants by just minting more coins? You think they've started wars in the past. Wait until they have unlimited funds.

[NewJeffCT]

10. I thought the White House had ruled this idea out?

Have they changed?

[Jeff In Milwaukee]

12. They shouldn't (even if they have)

For sake of not causing a mini-crash on Wall Street, the official line from the White House should be something to the effect of "We will not allow Congress to shirk its duty, and the White House is prepared to take whatever action is necessary to prevent a default by the United States government."

Translation: If Congress can't/won't do it, the President will.

[NewJeffCT]

13. I agree that they shouldn't take it off the table

but, you know how the Obama WH works - they prenegotiate these things by taking the best options off the table ahead of time (single payer in the healtcare debates)

[Filibuster Harry]

15. Would like to see Lady Liberty on one side and the Twin Towers on the other.