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Sure, ok, if we’ve completely dropped the facade… why not make it a $2 trillion dollar coin? Maybe we get a powers of two economy and my binary skills become ve
by SV_BubbleTime 5y ago
Sure, ok, if we’ve completely dropped the facade… why not make it a $2 trillion dollar coin? Maybe we get a powers of two economy and my binary skills become very handy outside of embedded programming.
- deleted 5y ago[deleted]
- csdvrx 5y agoWhy stop there? Let's make it a $10 trillion coin!
- ravenstine 5y agoTrillions are so mundane, now. Why not a quadrillion?
- jtbayly 5y agoPrecisely. If there is really no effect on inflation, as the ending quote claims, then why bother making it so small?
- djur 5y agoIt was originally an arbitrary number picked by the person who came up with the idea. In practice, the only reason to make it a relatively low value rather than a septillion is because the White House would want to be in a position to argue that it was an emergency action to ensure continued compliance with the debt limit, the Impoundment Control Act, and the 14th Amendment. Their position would continue to be that it is Congress' responsibility to approve enough borrowing to fulfill their spending mandates, rather than that the President can unilaterally abolish the debt limit (which would itself be unconstitutional).
- andrewla 5y agoI think the logic of a trillion dollar coin is that it will prevent the debt ceiling from being a crisis for a couple of election cycles, long enough for Congress to get their act together and remove one leg of the trilemma that they have created, but not so long as to make them not have to deal with it at all.