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The Trillion-Dollar Coin That Could Save Us All

The Trillion-Dollar Coin That Could Save Us All

Yes. Paul Krugman, a Nobel-prize-winning economist, wrote an op-ed in today’s New York Times that says President Obama should start seriously considering minting a platinum coin worth $1 trillion. The idea is that it would prevent a big to-do over raising the debt ceiling, as Democrats are saying the ceiling has to be raised but Republicans are saying it can’t be. A trillion-dollar coin would sidestep the whole thing, although it’s not an inviting prospect for the GOP (they introduced a bill to block it today). You can read a description of just how proponents think this coin would help right here, but be warned: It will make your head hurt. And besides, the important thing is, what sort of heist would have to be staged in order to get away with it, and how soon will Hollywood release that movie? …

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