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View Diary: 'Grown-ups don't mint trillion dollar coins' and other childhood fantasies (224 comments)

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  •  I think the coin is a distraction. (6+ / 0-)

    The real question, for a Supreme Court to decide, is whether the constitutional requirement that the government honor its debts trumps the generic requirement that the government secure congressional approval to incur new debt.  

    As for the question of whether Congress has the right to tank the economy unless it gets its way, the answer is obviously "yes, of course."  There's no constitutional Higher Good unless it's explicitly stated, which is why the 14th Amendment route is my preferred one: it does say that honoring outstanding debts is a Higher Good.  

    You know, I sometimes think if I could see, I'd be kicking a lot of ass. -Stevie Wonder at the Glastonbury Festival, 2010

    by Rich in PA on Wed Jan 09, 2013 at 09:19:25 AM PST

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