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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 lpast View Post
    Buck this doesnt take mile long posts...just a simple statement...the debt ceiling will be raised...just like all other presidents have always done of either persuasion.
    Maybe just maybe, that is the problem.

    I keep hearing today how raising the debt ceiling is ensuring that we continue to pay for what has already been spent. That is insane. Is there ANYONE in here that would take one of their credit cards and use it to pay for what they have racked up on the others? And would they do that if the agreement was that their children had to pay for what they did when it blew up?
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    Re: Can Trillion Dollar Coins Save the Economy?

    I hope they use Obama's face on the coin.

    That way, when our society collapses under the weight of its own debt and entitlement obligations, everyone will know who's fault it was.

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Velvet Elvis View Post
    I hope they use Obama's face on the coin.

    That way, when our society collapses under the weight of its own debt and entitlement obligations, everyone will know who's fault it was.
    I want one, if not only to see if there is chocolate inside.....
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by j-mac View Post
    Maybe just maybe, that is the problem.

    I keep hearing today how raising the debt ceiling is ensuring that we continue to pay for what has already been spent. That is insane. Is there ANYONE in here that would take one of their credit cards and use it to pay for what they have racked up on the others? And would they do that if the agreement was that their children had to pay for what they did when it blew up?
    Im sure it is the problem...the problem was created by entitlements to the rich...now they want more.

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by lpast View Post
    Im sure it is the problem...the problem was created by entitlements to the rich...now they want more.
    I don't think that blaming a sector of our society that not only pays the lion share of federal taxes collected, but drives the economy with jobs creation, while giving a pass to nearly half the country that pays nothing in is the way to go....Socialism doesn't work.
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

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    Re: Can Trillion Dollar Coins Save the Economy?

    Can anybody make change for me? Large unmarked bills if possible....


    imgres-1.jpeg

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by lpast View Post
    Buck this doesnt take mile long posts...just a simple statement...the debt ceiling will be raised...just like all other presidents have always done of either persuasion.
    I typically don't tell the future. It may be raised. But, as the topic of the op and the post of mine you responded to, I am certain it will not be due to the printing of a trillion dollar coin. The republican's will not allow that to occur. In other words, they will play the adult in this scenario.

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by specklebang View Post
    Can anybody make change for me? Large unmarked bills if possible....


    imgres-1.jpeg

    Yes, however you have to buy at least a pack of gum, the cost will be $999,999,999.59 so your change will be 41 cents.
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by grip View Post
    Everyone says the trillion dollar coin is like a default or raising a 5% tax on every dollar spent. It's true that devaluing the dollar in the short term with this de facto default would set the books right for years to come but you'd have to watch out for the market reaction. They know it just means Congress has no intention of cutting spending, shrinking gov or increasing revenues and as usual it would affect average to low income spenders more then the cushioned elite.
    The trillion dollar coin technique is very much NOT a “default”, de facto or otherwise. In practical, functional economic and government financial terms is the same thing as raising the debt ceiling. The only [potential] difference is in legal terms. EDIT: And political terms because of bypassing the House (well Congress as a whole but largely the House).
    Last edited by Dwight; 01-06-13 at 04:38 PM.

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by buck View Post
    I typically don't tell the future. It may be raised. But, as the topic of the op and the post of mine you responded to, I am certain it will not be due to the printing of a trillion dollar coin. The republican's will not allow that to occur. In other words, they will play the adult in this scenario.
    That there is as an actual question of whether or not to pay for plans laid out in legislation already passed is being used the way it is already takes them out of the “adult in the scenario” running.

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