Congressman To Introduce Law To Ban The Trillion Dollar Platinum Coin
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.
Sean Levinson | Elite.