Government Considering Trillion-Dollar Coin to Pay Off Debt
Could a magic coin fix the economy?
Desperate times are calling for desperate measures. With the debt ceiling still an issue, politicians and columnists are suggesting that the government, namely President Obama, mint a trillion-dollar coin to help pay off some of the country’s debt. New York Rep. Jerrold Nadler is proposing the idea. And it could happen. NY Daily News reports there’s a line in federal law that allows the Treasury Department to “mint and issue platinum bullion coins and proof platinum coins” in any size or denomination it chooses. (Daily News)