So much for the $1 trillion platinum coin idea. The U.S. Treasury Department said on Saturday it will not produce platinum coins as a way of generating $1 trillion in revenue and avoiding a battle in Congress over raising the U.S. debt ceiling. The idea of creating $1 trillion by minting platinum coins has gained…
The White House on Wednesday sees little profit in the notion of minting $1 trillion platinum coin as an escape hatch to avoid a debt default if Congress balks at raising the U.S. debt limit. With another standoff with Congress over raising the debt ceiling looming as early as mid-February, a petition on the White…
Rep. Jerry Nadler (D-N.Y.) wants the government to mint a platinum coin worth…a cool $1 trillion.. Nadler, a Jewish Upper West Sider, thinks the minting of a ridiculously valuable coin could foil GOP attempts to hold Democrats hostage in debt ceiling negotiations. It would allow the government to pay its debts without going through Congress,…
If you had to flip a coin over whether Congress will raise the debt ceiling, here’s the ultimate one – a freshly minted trillion-dollar platinum coin. A formal petition has been started asking the White House to create such a coin in order to avoid another high-stakes fiscal battle to raise the debt ceiling. The…
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