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?


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raylaser
raylaser
8 months ago

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!

vladimir
vladimir
8 months ago
Reply to  raylaser

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 .

vladimir
vladimir
8 months ago
Reply to  raylaser

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

Tom
Tom
8 months ago

Obviously all the needed people got together at the same time; idiots, inexperienced, hateful and incompetent.

Rational Geezer
Rational Geezer
8 months ago
Reply to  Tom

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?

JRJ
JRJ
8 months ago

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.

Stephen Russell
Stephen Russell
8 months ago

Head to Depression 2 worse then 1930s

Retardo
Retardo
8 months ago

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.

vladimir
vladimir
8 months ago
Reply to  Retardo

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 .