Why mint the coin? That’s easy. Where’s the challenge and the fun?
Instead Biden can try a highly complex and complicated (and unconstitutional?) legal avenue that the GOP justices could surely kill in a day leading to a catastrophic economic collapse and most likely a dem bloodbath in 2024?
It would be pretty funny if Biden’s vanity is literally more important than the economy and the future of the democratic party.
We have the world’s biggest guns, what are the failing states of the capitalist world gonna do? Repo our military?
I asked this question in grade school. What if the federal government just didn’t pay some of its debts? I remember my teacher getting really upset.
They’re 100% right, the constitution does compel them to continue issuing debt to pay their bills.
But holy shit just mint the coin you can do that today and no one can stop you, why do a complicated argument that will face serious pushback and probably be stopped even though it’s technically correct?
Because its part of the Kabuki of politics. You need to run right up to the line screaming “They’re going to take your Social Security! They’re going to take your Medicare!!! We have to make a deal!!!” and see what shakes loose.
Minting the coin will just piss off Congressional staff who run around making back room deals to fund the next Dick Sucking Factory in Winatoba.
prediction: they announce that it’s being minted, and the most important political question in the country becomes whose face is going to be on it for the rest of the election cycle. Popular suggestions include Reagan (GOP), Bush (Dems), Jesus (Based Tradcaths), and Elon (Bluechecks). Ultimately the Biden administration goes with Socks the Cat.
He should just declare martial law and arrest the Congress.
for people who are unfamiliar with “the coin”: https://en.wikipedia.org/wiki/Trillion-dollar_coin
The trillion-dollar coin is a concept that emerged during the United States debt-ceiling crisis of 2011 as a proposed way to bypass any necessity for the United States Congress to raise the country’s borrowing limit, through the minting of very high-value platinum coins. The concept gained more mainstream attention by late 2012 during the debates over the United States fiscal cliff negotiations and renewed debt-ceiling discussions. After reaching the headlines during the week of January 7, 2013, use of the trillion-dollar coin concept was ultimately rejected by the Federal Reserve and the Treasury.[1]
very high-value platinum coins
I know they want to use platinum to make it seem super valuable and rare, but they should just make it out of plastic to emphasize how arbitrary all this shit is.
I’d love to see a movie where Nicholas Cage steals the trillion dollar coin, only to find out it’s a standard plastic coin you could get in a toy shop.
Seriously. It’s not like the coin is actually worth a trillion dollars. If you somehow stole the coin it had no value, if you were to ever try and spend or redeem it in any way you’d be arrested.
