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View Diary: Ezra Klein is Right: NO COIN. (77 comments)

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  •  The coin option should not be ruled out (9+ / 0-)

    I don't think the President should telegraph absolutely everything he can or might do in the event Congress fails to raise the debt ceiling, but I completely agree with this:

    The President should look the Republican Party straight in the proverbial eye and say (and he has said): "No, I'm not going to negotiate on this, and you're not going to blow up the economy, and that's the end of the discussion.  You do what's right, period."  This case needs to be made clearly and loudly, so the whole of the country (including Wall Street) can pressure those elements in the Republican Party not inclined to act rationally.
    However, betting on the Republican party to act rationally is very risky.

    If they ultimately do end up acting responsibly, then great, problem solved and let's move on.

    However, if they do not and the government has to start not paying certain bills, then I think the coin option could be used at that point with a minimum of backlash.  

    Once there is enough outcry from those groups or constituents who aren't getting funds, then announcing the minting of a platinum coin of sufficient denomination to cover those costs would be seen as a viable alternative to continuing to let the obstructionists in Congress hold their hostages.  Hopefully, it never comes to that but given what we know about the GOP, I would not want to take the option off the table.

    "Why do we see the same old Republicans all over the news all the time when they were kicked out for screwing everything up?" - socratic's grandma

    by Michael James on Fri Jan 11, 2013 at 10:06:13 AM PST

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