2 ms·
If going gets tough, there are many ways to avoid default. (1) discharge petition - bill from committee to a vote. (2) Fourteenth Amendment Constitution prev
by nabla9 4y ago
If going gets tough, there are many ways to avoid default.
(1) discharge petition - bill from committee to a vote.
(2) Fourteenth Amendment Constitution prevents willful default until SCOTUS says otherwise. Just keep issuing debt.
(3) High coupon and low principal. 10-year bond with $1 in principal and annual $100 coupon will increase debt ceiling almost 1000X.
(4) high denominations coin minting