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View Diary: What shape should the $1T coin have? (26 comments)

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  •  It is not at all dead.... (3+ / 0-)

    First of all, the statement was about the Debt Limit, not about how the White House would or could respond if Congress should fail to do its duty.

    Second, all options are unthinkable until they become thinkable... always.

    Support the Fair Wages Tariff!

    by Jimdotz on Sun Jan 13, 2013 at 12:33:39 PM PST

    [ Parent ]

    •  Here is the official White House statement: (2+ / 0-)
      Recommended by:
      Shockwave, Andrew F Cockburn
      Statement by the Press Secretary on the Debt Limit

      “There are only two options to deal with the debt limit: Congress can pay its bills or it can fail to act and put the nation into default. When Congressional Republicans played politics with this issue last time, putting us at the edge of default, it was a blow to our economic recovery, causing our nation’s credit rating to be downgraded. The President and the American people won’t tolerate Congressional Republicans holding the American economy hostage again simply so they can force disastrous cuts to Medicare and other programs the middle class depend on while protecting the wealthy. Congress needs to do its job.”

      This says absolutely nothing about the $1T coin nor about any other possible WH response should Congress "fail to act".

      Support the Fair Wages Tariff!

      by Jimdotz on Sun Jan 13, 2013 at 12:39:09 PM PST

      [ Parent ]

      •  For now it's probably a good idea (2+ / 0-)
        Recommended by:
        Andrew F Cockburn, Shockwave

        For the President not to unveil any disposition towards executive action to avert a cliff. He wants to pin this mess on the Republicans, and only the Republicans.

        Republicans are far more socialist than Democrats. Just because they want to redistribute the wealth upwards does not make it any better.

        by MrAnon on Sun Jan 13, 2013 at 02:56:36 PM PST

        [ Parent ]

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