Paul Krugman weighed in today on the upcoming debt ceiling and Republicans threats to force America into default. His advice, Be Ready To Mint That Coin.
He explains that Republicans are openly threatening to use the debt ceiling and its potential for catastrophe to blackmail the president into implementing policies they can’t pass through normal constitutional processes. So why not use the legal loophole of minting a platinum coin?
It’s easy to make sententious remarks to the effect that we shouldn’t look for gimmicks, we should sit down like serious people and deal with our problems realistically. That may sound reasonable — if you’ve been living in a cave for the past four years.Given the realities of our political situation, and in particular the mixture of ruthlessness and craziness that now characterizes House Republicans, it’s just ridiculous — far more ridiculous than the notion of the coin.And I love his closing paragraph,
So if the 14th amendment solution — simply declaring that the debt ceiling is unconstitutional — isn’t workable, go with the coin.
This still leaves the question of whose face goes on the coin — but that’s easy: John Boehner. Because without him and his colleagues, this wouldn’t be necessary.