**Written by Doug Powers
Minting trillion-dollar platinum coins and depositing one or more of them into the Federal Reserve is an idea that has been making the rounds among spend-a-holics looking for a way around the debt ceiling while at the same time giving U.S. currency a chic “Zimbabwean dollar circa 2008″ makeover.
Among those who have heard of the proposal, it’s not very popular:
Few Americans have heard about a proposal to mint a $1 trillion platinum coin in order to address the nation’s debt problems if an agreement to avert a debt ceiling crisis is not reached, but a new HuffPost/YouGov poll finds that they are skeptical of the idea.
Thirty-eight percent of Americans surveyed in the new poll said they disapprove of the platinum coin proposal, while only 19 percent said they approve. Forty-three percent said they aren’t sure about the option. The idea has gained attention recently after Rep. Jerrold Nadler suggested (N.Y.) it as a possibility to avoid a debt default if Congress does not raise the debt ceiling. Since then, the option has gained some prominent supporters, including New York Times columnist Paul Krugman
By a small 28 percent to 25 percent plurality, Democrats in the survey said they approve of the proposal, but a majority of Republicans and a plurality of independents say they disapprove of it.
Nadler’s backup plan would entail writing “$500 billion” on two cocktail napkins and putting them in Tim Geithner’s birthday card.
Why not mint a whole bunch of trillion-dollar-coins and pay off the entire debt? I’m sure that’s being discussed in DC cloak rooms and offices at the New York Times as we speak.
You know we’re in real trouble when in some circles throwing a bus token into the coffers and calling it a trillion dollars is considered a more palatable and realistic option than seeking in-patient treatment for a possibly fatal spending addiction (which, unsurprisingly, is not covered under Obamacare).
Update: The White House leaves the trillion dollar coin option on the table.
(h/t Zero Hedge)
**Written by Doug Powers
Twitter @ThePowersThatBeblog comments powered by Disqus
Romney says 47 percent of the country won’t vote for him, causing yet another record month for the number of Americans on disability
September 18, 2012 01:57 PM by Doug Powers
November 28, 2012 09:22 AM by Doug Powers
October 4, 2012 07:17 PM by Doug Powers
September 19, 2012 05:05 PM by Doug Powers
Axelrod: Romney and right-leaning Super PACs to blame for perception Obama campaign has gone negative
July 25, 2012 01:47 PM by Doug Powers
Gay Patriot» Meanwhile, at Obama’s EPA. . .
Daily Caller» Bill Maher: GOP guilty of ‘treason’; Michael Moore: ‘They hate America’
Green Room» New liberal idea: Let’s raise $660 million online in a month to buy the LA Times before the Koch brothers can
Gay Patriot» Did the IRS act progressive groups the same kind of intrusive questions they asked of Tea Party groups? (And if not, why not?)
Daily Caller» David Brooks: ‘We as a country have become over-addicted to scandal’
Daily Caller» Wyo. student who threatened to rape self on Facebook was convicted of assault
Gay Patriot» Jesus, on tax collectors
Green Room» Two House Dems demand Lerner resignation after using lobbyist to stage modified limited hangout