3 ms·
I'm fuzzy on the particulars, but I think the big thing's that a trillion-dollar coin is a loophole to bypass Congress, allowed because Congress has already aut
by _Nat_ 7y ago
I'm fuzzy on the particulars, but I think the big thing's that a trillion-dollar coin is a loophole to bypass Congress, allowed because Congress has already authorized the laws that contain the loophole.
Bypassing Congress seems to be the main thrust of the plan since, if Congress wanted to, they could pass whatever laws they like. This is, Congress could get a similar effect without actually printing a coin if they wanted to.
The issue seems to involve some complicated interactions. For example, Congress likely doesn't want such printing as it may weaken America's reputation for economic integrity. Also, it seems that a lot of modern politics centers around Congress having regular battles over the budget, such that breaking that paradigm would seem to shift American politics away from the current status-quo.