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View Diary: Updated: President Says No Platinum Coin (187 comments)

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  •  Actually no. (2+ / 0-)
    Recommended by:
    divineorder, davidinmaine

    If the trillion dollar coin is minted, then we avert a default.  Hence, no economic holocaust.  

    The only other ways to prevent the default are to ignore the debt ceiling altogether (the so-called "constitutional option") or to pray that Obama stands absolutely firm and the Republicans blink.  Since he made a deal the last time they threatened not to raise the debt ceiling, I'm not entirely confident he won't do the same again.

    Given that state of affairs, a trillion dollar coin looks pretty good.  

    "Ça c'est une chanson que j'aurais vraiment aimé ne pas avoir écrite." -- Barbara

    by FogCityJohn on Sat Jan 12, 2013 at 07:36:36 PM PST

    [ Parent ]

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