4 ms·
Wait so congress can stop lending but not minting new coins? That's just weird. Although the whole concept of a hard debt limit is weird, not saying you can't l
by contravariant 3y ago
Wait so congress can stop lending but not minting new coins? That's just weird. Although the whole concept of a hard debt limit is weird, not saying you can't limit the amount of debt but you can't just back out of existing obligations.
- wongarsu 3y agoThe minting thing was meant for commemorative coins, which was probably though not important enough to bother congress with. But the law doesn't set a limit on the value of those coins, creating the loophole of creating ridiculously valuable commemorative coins.