Joe Piette via Flickr

A group of radical Democrats have now come up with an insane new scheme that would allow them to keep spending without worrying about the national debt: mint a trillion dollar coin.

As The Daily Wire reports:

Two years ago, Congress suspended the debt ceiling — which bars the federal government from assuming a certain level of national debt — until August 2021. Because Congress has so far failed to vote on continuing the suspension or increasing the limit, Treasury Secretary Janet Yellen is warning that the federal government will run out of money on October 18.

As a result, some Democrats are resurrecting a proposal to mint a $1 trillion coin made of platinum and deposit it at the Federal Reserve — an accounting trick that would theoretically retire $1 trillion in government debt.

The prospect of a trillion-dollar coin is not new. President Obama explained in a 2017 interview that his advisers briefly considered minting the coin amid debate over the 2013 debt crisis.

“There was this theory that I had the authority to issue through the mint this massive $1 trillion coin and on that basis we could try to pay off US Treasurys,” Obama said on Pod Save America. “It was a very realistic possibility that we couldn’t get the votes for that and we couldn’t get those debts rolled over and we would be in a situation where we were technically in default. At that point, you were in uncharted territory.”

Will the Democrats new insane scheme work, or just push the US even closer to financial ruin?




Comments

  1. Yeah, and while we’re at it let’s print a bunch of phony money to pay the bills for all the illegal aliens invading our country. Because otherwise, you, me and every other taxpaying middle-class American is going to be footing the bill for these illegal invaders!

    1. All globalist puppet, libby snow flake sheep want to bring all their illegal criminal invader voters and taliban terrorist voters here because they don’t pay federal taxes from their welfare check to need to support their illegal criminal invader voters and taliban terrorist voters .

    2. Exchange 100 libby snow flakes for 1 illegal criminal invader until the US is free of libby snow flake sheep .

    1. Google “Nazi Saboteurs and George Dasch”. The article describes the landing of eight Nazi saboteurs in New York and Florida.

      Fortunately, this was before the FBI became a corrupt arm of the Demotraitor party, and the Nazis were all apprehended before any saboteur committed a single act of sabotage. Six were tried and sentenced to death before their execution a few days later. The remaining two were jailed.

      What consequences will be born by the saboteurs in the Biden administration, including Saboteur-in-Chief Biden himself, the fake media, and the tech social censorship monopolies for the immense damage they have loosed on the nation?

      1. Oh, They’ll be thoroughly vilified by Future historians, AFTER its Too late to save us now. And ALL because of the majority of “the people” that have ALLOWED this SHIT to Happen. AMERICAN TRAGEDY.

    1. I’d be willing to bet you got that right. My parents lost everything they had during the depression and this one that will – not if it happens will obviously be much worse. Thanks to the idiots who voted for the communists that now are running our country into the ground.

      1. There are more American voters than there are globalist puppets; libby snow flake sheep voters and illegal criminal invader voters and taliban terrorist voters and globalists had to use all their forms of voter fraud to appoint their puppet; chester biden .

  2. Those socialists (communists) don’t care that this country is running out of money. They’re proposing all kinds of screwy things to give THEM more money to waste. Obviously they don’t know or probably don’t care that when one is low on money one cuts back on spending. I really want to thank the absolute morons who voted those commies into office so they can totally destroy our once free nation. THANKS FOR NOTHING IDIOTS.

  3. These no good for nothing communist pieces of Dung do not give a damn if this country goes under. Actually that’s their aim. If the people of the states that this idiots are supposedly be looking out for their good don’t vote these idiots out of office this country will be the Venezuela.

  4. Why are the bidens not in jail for treason?
    Why is joe biden’s adjenda trying to kill America?Time to hold the Biden responsible for war crimes against our Nation, Time to hold his radical cabinet members equally responsible for their crimes against the American people, Time for full accountability on acceptance of money from foreign sources, adversarial to our Governmental it’s ideals. principals. Biden crime family has been allowed to continue for too long. Time has come to hold the Biden’s for criminal border acts against the American people. The Country can not continue on this path without the full input of Congress to hold the executive branch to the laws they created, that are in place to stop incompetent self elected dictatorships from taking our country. Overreaching criminal political obfuscation by a mindless leader. Impeachnent is not enough, Biden’s betrayal should be held on the world stage for his Crimes agaiinst America, against our allies, against our militiary, against Americans who were killed, against family corruption, against his personal attack on American values, against our Country, it’s more then just politics, he seens to have total hate, for our way of life. Once again, look at the money the Biden’s have received from China, Russia, those decisions he made to benefit China and Russia, which no American would choose, against our Country’s welfare and values.Without Biden’s being held accountable. their betrayals, we will never be able to move forward, in Biden’s mind if the Clinton’s got away with it so can he ten fold. Impeachment is not enough it should just be a start.

  5. We’re so far in debt now that the conversation SHOULD be about cutting every single wasteful government spending and shrinking the government, not on how we can spend more money we don’t have. History will not be kind about this nonsense.

  6. Yah right why make just one why not 30! Most of our debt is to China. Why not just give them half the country? That’s how the liberals think.

  7. If the United States Goes Down, It Won’t Be Just Us… IT WILL BE WORLD WIDE ! The United States Drives The World Economy ! What a Bunch Of Fools In D.C. !
    Romans 1 v. 22 “Professing themselves to be wise, they became fools,”

  8. OK, they only need about 39 more of those coins just to make it through next year with Biden! Of course it is a dumb idea, that is why the Dems came up with it!

  9. America Vote out the Democrats they are going to bankrupt America Vote out the Democrats next election

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