The Trillion Dollar Coin

[rdubwiley]

[onthefence1]

1. trillion dollar coin

while I agree there are issues with the debt ceiling, how can even our govt "mint" a coin, declare a value to pay debts? just doesn't make for common sense...I, myself, have had a few occasions in my life where I would love to declare a precious metal with value so that I could pay my credit card debts. what will become of the "trillion dollar coin" once debts are paid? it will be useless.

[rdubwiley]

2. I don't know what will happen to the coin

The point isn't to create money, but to work around the debt ceiling, while producing cash flow to pay off some debt. Really it's just a way to move money from one place to another without hitting the arbitrary limit.

Though, after the debt ceiling is raised, you can imagine the treasury throwing the coin into Mount Doom.

[albear]

3. Reality immitates art

Remember the old Simpsons episode about Mr. Burns stealing the 1 trillion dollar bill from the U.S. and Fidel Castro gets it? LOL!

[DWinNJ]

4. It will never happen

There would be too much controversy as to whose image goes on the coin for them to do it in a reasonable time.

[rdubwiley]

5. We all know

The coin would have John Boehner on it.