{"id":185321,"date":"2011-07-30T20:24:00","date_gmt":"2011-07-31T01:24:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2011\/07\/30\/just-mint-the-damn-coin-already\/"},"modified":"2011-07-30T20:24:00","modified_gmt":"2011-07-31T01:24:00","slug":"just-mint-the-damn-coin-already","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2011\/07\/30\/just-mint-the-damn-coin-already\/","title":{"rendered":"Just Mint the Damn Coin Already!"},"content":{"rendered":"

I haven’t said much on the solutions on the debt ceiling debate, I’ve been more focused on the source of the problem, which is that Obama, in his eagerness to find a way to gut<\/strike> cut Social Security, Medicare, and Medicaid in order to feed his own ego by burnishing his self image as a bipartisan compromiser who brings people together because he’s just so damn awesome.<\/p>\n

At this point, it would be good to have a plan B, and while there are a number of ways to work around this, though to my mind is the use of the Treasury’s explicit statutory authority to mint platinum proof coin of arbitrary value<\/a>, which they could be deposited in the Federal Reserve account and used to keep the debt below the ceiling.<\/p>\n

So if they mint a few trillion dollar coins, deposit them in their “checking account”, and it’s off to the races.<\/p>\n

But it won’t happen, because Obama still wants to find a way to gut<\/strike> cut Social Security, Medicare, and Medicaid.<\/p>\n","protected":false},"excerpt":{"rendered":"

I haven’t said much on the solutions on the debt ceiling debate, I’ve been more focused on the source of the problem, which is that Obama, in his eagerness to find a way to gut cut Social Security, Medicare, and Medicaid in order to feed his own ego by burnishing his self image as a …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[998,1080,1004,1020,985],"tags":[],"class_list":["post-185321","post","type-post","status-publish","format-standard","hentry","category-congress","category-currency","category-finance","category-legislation","category-regulation"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/185321"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=185321"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/185321\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=185321"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=185321"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=185321"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}