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1 reidh  Mon, Jan 7, 2013 5:23:20pm

this receives a contrary piece by you? like your all for the idea of a one ounce platinum coin minted at one trillion? and your for the use of it for paying bills? Are you nutz?

2 freetoken  Mon, Jan 7, 2013 5:31:30pm

re: #1 reidh

The people who take the “platinum coin” scenario seriously are in need of a a check-up.

3 Skip Intro  Mon, Jan 7, 2013 5:35:24pm

re: #1 reidh

this receives a contrary piece by you? like your all for the idea of a one ounce platinum coin minted at one trillion? and your for the use of it for paying bills? Are you nutz?

When you’re dealing with lunatic terrorists, you have to think outside the box. Trying to deal rationally with the GOP is as pointless as talking law with Orly Taitz.

4 EPR-radar  Mon, Jan 7, 2013 5:36:21pm

re: #2 freetoken

The people who take the “platinum coin” scenario seriously are in need of a a check-up.

I’d agree, except that the entire debt ceiling issue is such a manufactured nontroversy that a stupid platinum coin trick fits right in.

Congress has mandated spending via appropriations. Congress has also enacted a debt ceiling that is inconsistent with its appropriations.

If Congress is stupid enough to pass inconsistent laws, why shouldn’t the Executive get to choose how to deal with the inconsistency.

No need for coin tricks, 16th amendment diversions etc.

5 Cankles McCellulite  Mon, Jan 7, 2013 8:39:58pm

We could call the Boehnerrand!

6 lostlakehiker  Mon, Jan 7, 2013 10:50:59pm

These constitutional debates miss a point made by the Economist recently: politics is not an abstract logic puzzle. The constitution contains a number of contradictions. Conflicting wishes to keep up spending on favorite programs, and to cut overall spending, are common in families, let alone nations. It’s part of the human condition.

In families, a decision is mostly arrived at via compromise. Daddy doesn’t get to just SAY. The U.S. doesn’t operate in a vacuum either. Minting trillion dollar coins, or for that matter, minting a million “million dollar” coins, just won’t do. Whether it’s theoretically legal or not is beside the point. We, and our dollar, would become laughing stocks.

Current policy just won’t work. A fix, or a crash, are the only long term options. For a fix, we’ll need both substantial tax increases on the top part of the middle class (say, everybody in the top 15 or 20 percent of income), and substantial trimming of spending (say, …ah, but I know better than to name programs. Every cut cuts a worthy purpose, from someone’s point of view. Even subsidies for peanuts, rebuilding flooded vacation homes, and mohair ranchers). Anyway, the big money is in programs that have a legitimate purpose, and the argument is over whether they serve it well, or whether that purpose trumps avoiding the fiscal fate of Greece, or whether we’re in a bind and it’s just flat impossible to fund that worthy purpose at current levels, even given as much tax increases as the economy will bear, and still escape the fiscal ruin that would abruptly scuttle those programs.

And on top of all that, we need a huge increase in efforts to address global warming. It’s not an easy situation to cope with.

7 aagcobb  Tue, Jan 8, 2013 6:19:43am

re: #6 lostlakehiker

These constitutional debates miss a point made by the Economist recently: politics is not an abstract logic puzzle. The constitution contains a number of contradictions. Conflicting wishes to keep up spending on favorite programs, and to cut overall spending, are common in families, let alone nations. It’s part of the human condition.

In families, a decision is mostly arrived at via compromise. Daddy doesn’t get to just SAY. The U.S. doesn’t operate in a vacuum either. Minting trillion dollar coins, or for that matter, minting a million “million dollar” coins, just won’t do. Whether it’s theoretically legal or not is beside the point. We, and our dollar, would become laughing stocks.

Current policy just won’t work. A fix, or a crash, are the only long term options. For a fix, we’ll need both substantial tax increases on the top part of the middle class (say, everybody in the top 15 or 20 percent of income), and substantial trimming of spending (say, …ah, but I know better than to name programs. Every cut cuts a worthy purpose, from someone’s point of view. Even subsidies for peanuts, rebuilding flooded vacation homes, and mohair ranchers). Anyway, the big money is in programs that have a legitimate purpose, and the argument is over whether they serve it well, or whether that purpose trumps avoiding the fiscal fate of Greece, or whether we’re in a bind and it’s just flat impossible to fund that worthy purpose at current levels, even given as much tax increases as the economy will bear, and still escape the fiscal ruin that would abruptly scuttle those programs.

And on top of all that, we need a huge increase in efforts to address global warming. It’s not an easy situation to cope with.

Eliminating the programs you mentioned, just as an example, would amount to less than a rounding error in the federal budget. The red ink projected in the future is primarily due to assumptions about how much the costs of medical care are going to increase. Those increasing costs can be dealt with then, primarily by making our health care delivery system more efficient, and the best way to do that is to go to a single payer system. Social security can be shored up fairly easily just by lifting the cap on the payroll tax. We don’t currently have a fiscal crisis, we have an unemployment crisis, but the Right is desperately trying to engage in rightwing social engineering in order to redistribute more of the nation’s income to the 1% while it is still relevant politically.


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 Frank says:

Whatever you have to do to have a good time, let's get on with it, so long as it doesn't cause a murder.