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Thread: Can Trillion Dollar Coins Save the Economy?

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by iguanaman View Post
    The whole of point the "coin" is to show how stupid a default on our debt would be. It would be melted down as soon as Congress decided they wanted to pay our bills again.
    The "debt ceiling" is a manufactured excuse to play Russian roulette with all our jobs. Do you think a trillion dollar coin is any more stupid?
    Arbitraily adding $1 trillion of make believe money to the Treasury is certainly more stupid than raising the debt ceiling. Default cannot and will not ever be an option. Bitting the bullet and raising the debt ceiling while balancing the budget takes place is the only way to go.
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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Juiposa View Post
    Arbitraily adding $1 trillion of make believe money to the Treasury is certainly more stupid than raising the debt ceiling. Default cannot and will not ever be an option. Bitting the bullet and raising the debt ceiling while balancing the budget takes place is the only way to go.
    So you would be happy with a law that ends the need for a "debt ceiling increase" by Congress in exchange for banning the trillion $ coin?
    What does balancing the budget have to do with paying our bills?

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Juiposa View Post
    Arbitraily adding $1 trillion of make believe money to the Treasury is certainly more stupid than raising the debt ceiling.
    One is, economically and financially, the other. Currency is a form of debt.

    Because the coin would not go into public circulation, the public currency supply would increase at the same rate as if done via raising the debt ceiling and periodically issuing T-bills&bonds over the next however many months/years.

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Dwight View Post
    Not if you read it. It says “total of all levels of government”, not to mention it does not say anything about debt.

    Oh man, it must be wholly embarrassing to be you right now.
    Just to be clear, comparing between those two is an apples and oranges comparison. Distribution of public debt is different in Canada. Provinces can and do run deficit budgets, in ways that States generally do not. That is why a good deal of the 2009 stimulus was passed on to States, to help backfill their budget shortfalls.
    Apples, oranges and now bananas.

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by iguanaman View Post
    The whole of point the "coin" is to show
    how stupid a default on our debt
    would be. It would be melted down as soon as Congress decided they wanted to pay our bills again.
    The "debt ceiling" is a manufactured "crisis" being used as an excuse to play Russian roulette with all our jobs. Do you think a trillion dollar coin is any more stupid?

    Lol... You guys loaded that revolver with 5 bullets instead of one, spun the cylinder and pulled the trigger TWICE.

    You know, because even the fundamental rules of Russian Roullete allude you.

    And the result doesn't seem to have made you guys any less informed.

    I guess zero is always zero.

    You're trying to justify a endless debt with low yield bonds because you dont have the objectivity to realize your mesiah put us here.

    No revenues, higher taxes, no growth and a shrinking economy and your solution ?

    Unbelievable.

    This is your failure because I didn't vote for this leftist idiot.

    The debt debate is proof positive your guy, your ideology and everything it represents has failed miserably.
    Last edited by Fenton; 01-08-13 at 04:47 PM.

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Fenton View Post
    Lol... You guys loaded that revolver with 5 bullets instead of one, spun the cylinder and pulled the trigfer TWICE.

    And the result doesn't seem to have made you guys any less informed.

    I guess zero is always zero.

    You're trying to justify a endless debt with low yield bonds because you dont have the objectivity to realize your mesiah put us here.

    No revenues, higher taxes, no growth and a shrinking economy and your solution ?

    Unbelievable.

    This is your failure because I didn't vote for this leftist idiot.

    The debt debate is proof positive your guy, your ideology and everything it represents has failed miserably.
    If congress didn't want to raise the debt ceiling then it shouldn't have passed appropriations bills that require it. Either vote for both or vote for neither. It's stupid to support a budget then oppose raising the funds to enact it. I think everyone can agree on that point.
    "I do not claim that every incident in the history of empire can be explained in directly economic terms. Economic interests are filtered through a political process, policies are implemented by a complex state apparatus, and the whole system generates its own momentum."

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Grant View Post
    Apples, oranges and now bananas.
    Um. Well if you have a hard time with reading comprehension and keeping it all straight, which seems the case given that you are unable to process the basic information of the most minimal pages that you link to…not my issue.
    Last edited by Dwight; 01-08-13 at 05:01 PM.

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Khayembii Communique View Post
    If congress didn't want to raise the debt ceiling
    then it shouldn't have passed appropriations bills that require it. Either vote for both or vote for neither. It's stupid to support a budget then oppose raising the funds to enact it. I think everyone can agree on that point.
    What budget ?

    And exactly WHY do we need an ever increading debt ?

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Fenton View Post
    What budget ?
    The appropriations bills that have been financing the government since 2011 and the last debt ceiling fiasco.
    "I do not claim that every incident in the history of empire can be explained in directly economic terms. Economic interests are filtered through a political process, policies are implemented by a complex state apparatus, and the whole system generates its own momentum."

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Khayembii Communique View Post
    The appropriations bills that have been
    financing the government since 2011 and the last debt ceiling fiasco.
    Not a budget and you know it. Just a legislative device to allow perpetual spending.

    Again, why do we need a ever increasing debt ?

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