After Congress gets done dealing with the fiscal cliff, another problem arises: the debt ceiling. But instead of better spending, people are talking about minting a trillion dollar coin to fix the crisis.
I don't see how this would work at all. Essentially, I see this as printing money to pay off debts. Even the economist in the video said that it wouldn't work in the long run. Congress needs to find a better solution to the debt ceiling than this. Given their previous track record, I don't have high expectations for Congress, and I only hope that they don't go with this ridiculous plan. Even if this plan did manage to work, there would still be $15 trillion more to pay off. I think this plan that it is incredible anyone thinks this would work, and I think Congress needs to work harder on serious issues like these.
What are your thoughts? Do you think that are better alternatives to the coin? What are they? Why do you think so many are giving this idea credit? Post you thoughts below.
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