A Coin As Big as 89 Whales
Obama Should Mint Coin to Avoid Debt
Spokesman Jay Carney at Afternoon Press Briefing, 1-9-13
The option here is for Congress to pay its bills," Carney said repeatedly when asked about the prospect of Obama considering the $1 trillion coin approach. "There is no Plan B. There is no backup plan."
Pressed again later for a "yes" or "no" answer, Carney still wouldn't give one.
"I would refer you to Treasury for specifics of this question," he said. "I can tell you the president does not believe that there is a backup plan or a Plan B or an off-ramp. The only option here is for Congress to fulfill ... its responsibility and ensure the United States pays its bills."
The story is that Jay Carney has refused to rule out #MintTheCoin— Joseph Weisenthal (@TheStalwart) January 9, 2013
The WH has fully ruled out the 14th amendment option. They aren't really doing the same with the coin— Sam Stein (@samsteinhp) January 9, 2013
.@chucktodd has asked Jay Carney about 6 times about the coin. Great work.— Joseph Weisenthal (@TheStalwart) January 9, 2013
Put @chucktodd on the trillion dollar coin!!!!— Michael Cohen (@speechboy71) January 9, 2013
Obama's new band: Coingo Boingo. Hit song: "If I had a trillion dollars" Album: "Dark Side of the Coin" Album will go platinum #MintTheCoin— John Sunununu (@JohnSunununu) January 9, 2013
#MintTheCoin is gonna be the 'Snakes on a Plane' of fiscal policy.— Daniel Kibblesmith (@kibblesmith) January 9, 2013
#MintTheCoin & Get your money for nothin' & you checks for free!— I am Frank Pruss (@Dr_Velocity) January 9, 2013
source @brianbeutler on twitter
In a universe of horrible policy ideas---and that's saying something--#MintTheCoin is the worst in a generation. #ridiculous $$
— Joseph Brusuelas (@joebrusuelas) January 9, 2013
#Eastwooding - I love the seething outrage being vented against an imaginary coin #MintTheCoin #StopTheCoin #CoinTruthers
— Jeanne Kimsey (@SnarkAmendment) January 9, 2013
i think we should #MintTheCoin just to see Rush Limbaugh's head lift off from his body and shoot into outer space, whizzing light years away
— andrewwww (@aaandrewwww) January 9, 2013
.@thestalwart My only fear with #MintTheCoin is that Bane will steal it from Gotham City.
— Rex Sorgatz (@fimoculous) January 9, 2013
#mintthecoin is quickly becoming the philosopher's stone of the modern liberal/economic illiterate (but I repeat myself).— Miké (@ThePantau) January 9, 2013
Spending lunch imagining the TV coverage of any actual attempt to #mintthecoin - news helicopter tracking its progress, etc.— Leo (@Leo837) January 9, 2013
Highlight of the State of the Union? President turns around, says, "What's that in your ear, Mr. Speaker?" & pulls out the trilion $ coin.— LOLGOP (@LOLGOP) January 9, 2013
Mint the Coin
With the Debt Ceiling coming up soon, it
Is time (although some may impugn it)
For coining a halt
To a US default
With a really big monet'ry unit.
A one-trillion coin, it is said,
Could be minted and shipped to the Fed,
In order to pay
What the US of A
Might be forced to renege on instead.
This sizeable denomination
Would be kept out of mass circulation,
The better to sidestep
That such an untried step
When Republicans finally come round
From running bond issuance aground,
It's back to the Mint
For the Coin, where its stint
Will be wound up with melting it down.
So let's mint The Coin out of platinum!
Though objections there be, we may flatten 'em.
There are ways besides cash
'Round the Debt Ceiling clash,
But there's nothing as clever as that in 'em.
~ By Dr. Goose on Limericks Économiques