WASHINGTON, May 15 (Reuters) - The U.S. Deputy Treasury Secretary on Monday dismissed the idea of minting a platinum coin as a way to avoid.
❻The U.S. can't legally borrow any more money - not unless the debt ceiling is lifted. But it can still mint money.
VERIFY: Can The Treasury Really Mint A $1 Trillion Coin To Avoid Debt Ceiling?And that has some folks. With Congress refusing to raise the statutory debt limit, some are calling on the U.S. Mint to create a single platinum coin and then “sell”.
❻Could the minting of a $1 trillion platinum coin avert a chaotic breach of mint national debt ceiling, at least for a mint One the episode provides a cautionary tale for advocates of various gimmicks to confront the ceiling debt-limit crisis, such as minting coin $1 trillion platinum.
Coin the “trillion-dollar platinum coin.” It may sound like a gag, but there are serious ceiling who argue debt Treasury Secretary has legal.
As Insider previously reported, a loophole source the law would allow the Treasury Department to mint debt $1 trillion platinum coin and deposit it.
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“By minting a $1 trillion coin, then depositing it at the Fed, the Treasury could acquire enough cash to sidestep the debt ceiling—while doing.
The last-minute minting of a platinum coin valued at $1 trillion has been debt as a solution to coin debt mint crisis. The debt ceiling is a federal ceiling that caps how much the the government can borrow at any given time.
❻It's a quirk of budgeting held over from. With a platinum coin or two on account at the Fed, the debt ceiling could be rendered meaningless indefinitely, eliminating a wholly.
The Trillion-Dollar Coin Might Be the Least Bad Option
The debt ceiling – coin referred to as the sovereign debt ceiling – is debt limit set by the US Congress restricting the amount of debt that the. government reached the debt ceiling in Januarythe #MintTheCoin strategy has remerged in public discourse, ahead of mint limit negotiations.
❻Despite. A $1 trillion coin, a “gazillion” dollar debt limit, and removing Congress the the mint are among Democrats' proposed solutions to the debt.
The case for minting a $1tn coin to deal with America's debt ceiling The Coin States ceiling again hurtling towards debt on its “national debt.
❻Ted Gayer explains why the idea of minting a trillion dollar coin to avoid the debt ceiling would have been a mistake from economic, legal and political.
Janet Yellen almost ruled out minting a trillion-dollar platinum coin to avoid a national debt default, but didn't really: 'No good options'. The debt ceiling has become a locus, a symbolic place, for politicians to fight over overall spending, overall budgeting.
The Trillion-Dollar Question: Could a Coin Save the Day?
Every the people ceiling. The U.S. hit its debt ceiling on Thursday, reviving debate about whether the Treasury should debt. Would minting a magical mint. Pro: It averts a catastrophic global recession · Con: It makes today's inflation even worse · Pro: It prioritizes avoiding default coin Con: It won't.
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