Congressman To Introduce Law To Ban The Trillion Dollar Platinum Coin

Congressman To Introduce Law To Ban The Trillion Dollar Platinum Coin
Politics
Like Us On Facebook
Like Us On Facebook

So congress has been trying come up with a new plan to try to get around our trillion dollar debt that (seriously) involves the invention of a trillion dollar coin.

Lots of people are actually supporting this plan as a last resort, since nothing else has been able to make any sort of progress on getting us out of this hole George W. Bush dug us into not too long ago.

The “Platinum Option,” as it is being called, would allow the Treasury to temporarily print money to pay the country’s bills, avoiding the debt ceiling completely. Technically, it is not against the law for congress to create their own legitimate currency, regardless of how high or low the value may be.

Too bad one angry Republican Congressman is strongly against this idea and is proposing a new law to ban its creation.

In a recent press release, Greg Walden (R-OH) uses the analogy of comparing the government to a small business to explain how immoral it would be for the White House to abuse their power to make a trillion dollar coin.

This would make sense if small businesses could also pay for entire wars on a credit card. Yet another hypocritical move to try to restore their phony interpretation of tradition by the GOP.

Republican scum.

Sean Levinson | Elite. 

Share Tweet
React
Like Us On Facebook
Like Us On Facebook

Sean Levinson

Sean Levinson loves writing almost as much as he loves ranting about politics. Elite Daily lets him do both, and he couldn't be happier now that he's finally putting his years at SUNY New Paltz to good use. When he's not writing, Sean enjoys nature excursions, playing the guitar and the Ultimate Fighting Championship. Look for him on "Real Time with Bill Maher," where he regularly appears in his most precious fantasies.

More In Politics

Politics John Flynn

Debunking Every Reason You Have For Not Voting In This Year’s Election

Millennials are historically apathetic. Today, pretty much every human creation ever conceived is on the Internet. Access to every novel, film, artwork, TV show, essay, article, song and event is literally sitting in a small black rectangle in our pockets. We must believe that anything and everything we are doing is better than any of […]

Politics Jandra Sutton

The Short And Long Reasons Why Millennials Hate Politics

It’s no secret that Millennials appear disinterested in politics today, especially in the United States. In fact, a recent Pew study concluded that Millennials aren’t fans of political parties, with half of Millennials describing themselves as politically independent. Here’s why: Long Version Politics has become an old boys’ club and there isn’t much room for younger generations […]

Also On Elite

Strategy

3 Things You Need To Know Before Crowdfunding Your Startup

More and more startups and entrepreneurs are turning to crowdfunding these days and not just equity crowdfunding (i.e. Wefunder), but rather, perk crowdfunding (i.e. Kickstarter and Indiegogo). Crowdfunding can be a great tool for startups and provides much more than just funds (e.g. market validation, a loyal customer base, early adopter market, etc.), especially for younger, […]

World

Miracle Baby The Size Of An iPhone Fights For Her Life

A baby born just the size of an iPhone is struggling to stay alive. Little Adilynn Renee weighs just four pounds, one for every month since she was born. The little girl, one of the smallest ever born to North Carolina’s Forsyth Medical Center, has already fought a blood infection and two instances of pneumonia. […]

Money

Break Out To Break Through: 7 Uncomfortable Steps To Take To Achieve Success

We have all experienced the feeling of discomfort. Just think back to school, when you had to give that dreaded five-minute speech. You are on deck to present to a room full of peers. Your heart starts beating fast; your adrenaline begins to rush. Once your palms start to sweat, you contemplate whether or not the […]