White House Explains Rejecting $1 Trillion Coin

This might be the right way to do it… no tricks or WH fixes to this situation, just put all pressure on Congress. You spend, you pay.


Paul Krugman gets a call from the White House after they rejected the trillion dollar coin idea to stave off default on the nation’s bonds:

“The White House insists that it is absolutely, positively not going to cave or indeed even negotiate over the debt ceiling — that it rejected the coin option as a gesture of strength, as a way to put the onus for avoiding default entirely on the GOP.”

Wall Street Journal: “The White House also has rejected another escape clause: invoking the Fourteenth Amendment to the Constitution and borrowing more even if Congress hasn’t acted.”1hCzExu7NyI


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