Democrat Congressman: Let’s Pay Off the Debt by Minting a Trillion Dollar Coin!

  1. You have chosen to ignore posts from ComingLiberalCrackup. Show ComingLiberalCrackup's posts

    Democrat Congressman: Let’s Pay Off the Debt by Minting a Trillion Dollar Coin!

    Hot Air:

    Hey, it’s a better idea than anything we’ve heard from Obama:

    Rep. Jerrold Nadler has an admittedly “out of the ordinary” solution to the coming fight over the debt ceiling.

    “There is specific statutory authority that says that the Federal Reserve can mint any non-gold or -silver coin in any denomination, so all you do is you tell the Federal Reserve to make a platinum coin for one trillion dollars, and then you deposit it in the Treasury account, and you pay your bills,” Nadler said in a telephone interview this afternoon.

    I asked whether he was serious.

    “I’m being absolutely serious,” he said. “It sounds silly but it’s absolutely legal. And it would normally not be proper to consider such a thing, except when you’re faced with blackmail to destroy the country’s economy, you have to consider things.”

    The one thing you can say is, it’s an approach with a proven track record in other countries. (Of course, that track record is one of hyperinflation and economic misery. )

    I actually own a $100 trillion dollar note. It was given to me the last time I ever saw Andrew Breitbart, about a month before he died — and when he saw it he pulled out his own $100 trillion note, which he said he carried with him at all times in his wallet, as a reminder of what happens when a country resorts to hyperinflation to settle its debts.

    Because our $100 trillion notes were, of course, from Zimbabwe. And didn’t things work out great in Zimbabwe?

    Hats off to Rep. Nadler for his seriousness on the budget discussion. And rest assured that other Democrats, including President Obama, are every bit as serious as he about fixing this problem.

     
  2. This post has been removed.

     
  3. You have chosen to ignore posts from DirtyWaterLover. Show DirtyWaterLover's posts

    Re: Democrat Congressman: Let’s Pay Off the Debt by Minting a Trillion Dollar Coin!

    In response to GreginMeffa's comment:
    [QUOTE]

    In response to WhatDoYouWantNow's comment:
    [QUOTE]

    Nobody would be discussing such idiocies if Cantor's gaggle of Republicans were not planning on holding the country hostage by refusing to raise the debt ceiling to allow us to pay debts that the vile scum already authorized.


    The ends justify the means, as long as they are Republican ends. Right Bo?

    [/QUOTE]


    And the purpose of a ceiling is ???

    Nadler flunked econ, that is for sure

    [/QUOTE]

    Did you even take Econ?

     
  4. You have chosen to ignore posts from StalkingButler. Show StalkingButler's posts

    Re: Democrat Congressman: Let’s Pay Off the Debt by Minting a Trillion Dollar Coin!

    Nobody would be discussing such idiocies if Cantor's gaggle of Republicans were not planning on holding the country hostage by refusing to raise the debt ceiling to allow us to pay debts that the vile scum already authorized.

     

    Now stupid Democrats are the fault of Republicans. Is there anything Republicans can't do?

     
  5. You have chosen to ignore posts from massmoderateJoe. Show massmoderateJoe's posts

    Re: Democrat Congressman: Let’s Pay Off the Debt by Minting a Trillion Dollar Coin!

    Congress acts like a bunch of spoiled kids who've always gotten what they want without dealing with the consequences.

    Congress needs to fix the growing debt and until there is an agreed to plan as to how to reduce the debt then the ceiling shouldn't be raised.  The plan most likely will require a near term increase in debt as we reverse the growing debt but we need a freaking plan and holding out for a plan is logical and responsible.

     
  6. This post has been removed.

     
  7. You have chosen to ignore posts from DirtyWaterLover. Show DirtyWaterLover's posts

    Re: Democrat Congressman: Let’s Pay Off the Debt by Minting a Trillion Dollar Coin!

    In response to GreginMeffa's comment:
    [QUOTE]

    In response to DirtyWaterLover's comment:
    [QUOTE]

    In response to GreginMeffa's comment:
    [QUOTE]

    In response to WhatDoYouWantNow's comment:
    [QUOTE]

    Nobody would be discussing such idiocies if Cantor's gaggle of Republicans were not planning on holding the country hostage by refusing to raise the debt ceiling to allow us to pay debts that the vile scum already authorized.


    The ends justify the means, as long as they are Republican ends. Right Bo?

    [/QUOTE]


    And the purpose of a ceiling is ???

    Nadler flunked econ, that is for sure

    [/QUOTE]

    Did you even take Econ?

    [/QUOTE]


    Kicked a55 in it.  Making money ain't the answer.  Has something to do with this tricky little dongle called M1 (and 2 and 3), affectionately known as money supply.

    [/QUOTE]

    And of course you realize that "printing" money by the treasury isn't really printing money?  It really means buying debt with electronic tranfers, which impacts....M2.

    Maybe next time around you should take the Econ Classes that weren't design specifically to allow music majors to fulfill a requirement (affectionately known a Econ for dummies).

     
  8. This post has been removed.

     
  9. You have chosen to ignore posts from tvoter. Show tvoter's posts

    Re: Democrat Congressman: Let’s Pay Off the Debt by Minting a Trillion Dollar Coin!

    In response to WhatDoYouWantNow's comment:
    [QUOTE]

    Nobody would be discussing such idiocies if Cantor's gaggle of Republicans were not planning on holding the country hostage by refusing to raise the debt ceiling to allow us to pay debts that the vile scum already authorized.


    The ends justify the means, as long as they are Republican ends. Right Bo?

    [/QUOTE]

    What a good little soldier! Blame the other side (if only their were true sides) as always!! geez

     
  10. You have chosen to ignore posts from massmoderateJoe. Show massmoderateJoe's posts

    Re: Democrat Congressman: Let’s Pay Off the Debt by Minting a Trillion Dollar Coin!

    In response to GreginMeffa's comment:
    [QUOTE]

    In response to WhatDoYouWantNow's comment:
    [QUOTE]

    Nobody would be discussing such idiocies if Cantor's gaggle of Republicans were not planning on holding the country hostage by refusing to raise the debt ceiling to allow us to pay debts that the vile scum already authorized.


    The ends justify the means, as long as they are Republican ends. Right Bo?

    [/QUOTE]


    And the purpose of a ceiling is ???

    Nadler flunked econ, that is for sure

    [/QUOTE]

    At today's price, Nadler just has to come up with a 20 ton platinum coin and we're OK.

     
  11. You have chosen to ignore posts from massmoderateJoe. Show massmoderateJoe's posts

    Re: Democrat Congressman: Let’s Pay Off the Debt by Minting a Trillion Dollar Coin!

    In response to GreginMeffa's comment:
    [QUOTE]

    I'll put my econ thesis against yours and watch you melt, dickhead.  You make Nadler look smart.  Make money to pay the debt.  Ok, duncecap.  Maybe you'll figure out why it will never happen before you die.

    Alone.

    In the rain.

    [/QUOTE]

    This could be interesting snark meets bark.

     
  12. This post has been removed.

     
  13. You have chosen to ignore posts from ComingLiberalCrackup. Show ComingLiberalCrackup's posts

    Re: Democrat Congressman: Let’s Pay Off the Debt by Minting a Trillion Dollar Coin!

    In response to WhatDoYouWantNow's comment:
    [QUOTE]

    Nobody would be discussing such idiocies if Cantor's gaggle of Republicans were not planning on holding the country hostage by refusing to raise the debt ceiling to allow us to pay debts that the vile scum already authorized.


    The ends justify the means, as long as they are Republican ends. Right Bo?

    [/QUOTE]


    The Republican House and especially its Tea Party elements have been screeching for limits on the Obama Administrations' reckless massive spending since 2010.

    They were labelled extremist, of course.  They also were lectured to show moderation and try to get things done. So, in the spirit of moderation and bipartisanship,  many vote for the debt ceiling deal.

    Their reward? To be called "vile scum" for voting for spending....

     

     

     
  14. You have chosen to ignore posts from massmoderateJoe. Show massmoderateJoe's posts

    Re: Democrat Congressman: Let’s Pay Off the Debt by Minting a Trillion Dollar Coin!

    Relax its under control!

     

     
  15. This post has been removed.

     
  16. You have chosen to ignore posts from DirtyWaterLover. Show DirtyWaterLover's posts

    Re: Democrat Congressman: Let’s Pay Off the Debt by Minting a Trillion Dollar Coin!

    In response to GreginMeffa's comment:
    [QUOTE]

    I'll put my econ thesis against yours and watch you melt, dickhead.  You make Nadler look smart.  Make money to pay the debt.  Ok, duncecap.  Maybe you'll figure out why it will never happen before you die.

    Alone.

    In the rain.

    [/QUOTE]

    Is duncecap going to be your new favorite insult?

    Serve up your thesis.  Any time and place.  I've forgotten more about economics than you'll ever know.

    You think the people are talking about paying off the DEBT with a trillion dollar coin and I'm the duncecap. 

    Go back you what you're good at - teaching little kids how to tune their guitars and leave the rest to the grownups who live in the real world.  Is their anything worst than a musician?

     

     
  17. You have chosen to ignore posts from DirtyWaterLover. Show DirtyWaterLover's posts

    Re: Democrat Congressman: Let’s Pay Off the Debt by Minting a Trillion Dollar Coin!

    Oh and Greggy, Paul Krugman, the Nobel Prize winning Economist not only says minting the trillion coin can be done, he says it should be done.

     
  18. This post has been removed.

     
  19. This post has been removed.

     
  20. This post has been removed.

     
  21. This post has been removed.

     
Sections
Shortcuts

Share