White House’s Jay Carney leaves trillion-dollar coin on table, passes buck to Treasury

The idea of having the U.S. Treasury mint a couple of trillion-dollar platinum coins to get around the limit of the debt ceiling just won’t go away. The idea has been floating around for months and has gained enough momentum (much of it through a #mintthecoin hashtag) for reporters to ask White House Press Secretary Jay Carney if the administration is considering the idea. Carney referred reporters to the Treasury but didn’t rule out the idea. And why would he? The debt ceiling is the House’s leverage in any fiscal cliff negotiations with the president, and the trillion-dollar coin would render that bargaining chip meaningless.

As enticing as the trillion-dollar coin may be to some, not everyone’s a fan. These people can often be identified by the #SpendingIsTheProblem hashtag, which is still chugging along.

We’re not counting on hearing that from Carney, and it looks like the Treasury isn’t willing to take the coin off the table either.

  • Michael Johnson

    Actually, the coin is necessary to pay for all the previous GOP spending.

    http://econopolitics.com/2012/10/06/the-republican-lie-that-wont-die/

    • Slapweasel

      I’ll give you a 50/50 on that snarky comment, Skippy. I’m in a giving mood. Four years from now it’ll be 51/49 D/R.
      I must say that employing the word “necessary” to that asinine “coin” idea seems a little wrong.

    • journogal

      Democrats have had control of the House in 2007 – 2009, with the Senate holding control since 2003. Now yes, Bush could have veto bills, but didn’t.

      Reid (Democrat, Senate Majority Leader) hasn’t create a budget or pushed for one in the Senate closing into close to 1,400 days. In fact, he won’t introduce in committee any of the budget bills passed by the House.

      But you just go ahead and continue to blame the GOP and letting the Democrats spend what little we have left.

    • BeeKaaay

      You forgot to mention the important fact that both major parties have been taken over by Marxists.

      It is Marxism that is the problem, not “political parties”

    • http://pennyrobinsonfanclub.net/ PennyRobinsonFanClub

      LOL, “I Blame Bush!”(TM)*

      *Copyright Hussein Holdings Ltd., a wholly-owned subsidiary of Soros Int’l.

    • http://twitter.com/equaltreatment Elaine

      You are so brainwashed. Get help.

    • rhodi

      Wow a graph and everything. I’m so impressed.

    • TomJB

      OH awesome! Is there now a twitchyiswrong.wordpress.com site like for powerline?

    • TomJB

      OH awesome! Is there now a twitchyiswrong.wordpress.com site like for powerline?

    • http://www.facebook.com/people/Thomas-Collins/100000220517250 Thomas Collins

      what kind of economically illiterate moron believes that the fiscal problems in this country stem from the pst 10 years and not the past 100?

  • Slapweasel

    Brilliant!

    ….uncirculated!

    ….mint!

    Hazel? We’re gonna need a bigger boat.

  • Insubordinate

    I’m sure President Eye Candy will insist that his face is depicted on the coin. After all, he creates $1,000,000,000,000+ debt every year… and still no budget.

    • GaryTheBrave

      That’s fine with me. Only dead people can be displayed on our money.

      • ceyanne

        Ha! Good one.

    • GaryTheBrave

      That’s fine with me. Only dead people can be displayed on our money.

  • http://query.nytimes.com/gst/fullpage.html?res=9D0CEED81431F935A35750C0A9619C8B63 ɹǝzıuɐƃɹo ʎʇıunɯɯoɔ

    It’s just like Obama to trivialize ‘One Trillion Dollars’ as just another coin you can mint.

  • http://twitter.com/equaltreatment Elaine

    Does ANYONE understand the enormity of a TRILLION? One times SEVENTEEN is almost our debt now! http://www.youtube.com/watch?v=LFRxiX0pQl4

  • Whodat

    I have a better idea. We mint a 1 quadrillion dollar coin and never have to worry about debt again. How stupid do you have to be to work for this White House?

    • GaryTheBrave

      They should just mint $1,000,000 coins for each of us then everyone will be rich.

    • GaryTheBrave

      They should just mint $1,000,000 coins for each of us then everyone will be rich.

  • brewerandpatriot

    Somehow, Biden would get his hands on it and lose it in a vending machine.

  • TomJB

    If they do this, at least do something useful with it. We really don’t need 20,250-ton discs of platinum sitting around (otherwise, its just more fiat currency). Build 3 Nimitz-class carriers out of pure platinum. They weigh a bit over 100,000 tons each and would be enough for $15-16T of platinum. Hopefully they can ignore the environmentalists’ cries when they try mining that much from the ground…

  • TomJB

    If they do this, at least do something useful with it. We really don’t need 20,250-ton discs of platinum sitting around (otherwise, its just more fiat currency). Build 3 Nimitz-class carriers out of pure platinum. They weigh a bit over 100,000 tons each and would be enough for $15-16T of platinum. Hopefully they can ignore the environmentalists’ cries when they try mining that much from the ground…

  • http://twitter.com/Stimulus4U Marty Luther

    That time in the future when Congress is flipping the Trillion Dollar Coin to make their decisions.

  • http://twitter.com/Stimulus4U Marty Luther

    That time in the future when Congress is flipping the Trillion Dollar Coin to make their decisions.

  • http://www.facebook.com/people/Thomas-Collins/100000220517250 Thomas Collins

    The court jesters are loving this, as did the courts where a 10-year old inherited the throne. It’s party time in DC while this moron occupies the White House.

  • Tequila Mockingbird

    Do you think it would be a coin instead of a bill so that it’d be less apparent they’re ripping off Simpsons episodes?

  • Wishsong

    I keep thinking that this isn’t real, that its something cribbed from a comic book. Yet…

  • Ronald

    I’m thinking of minting my own money to pay bills with. I wonder if my credit card company would go for that.