Tag Archives: coin seigniorage

The Political Economy of the Coin and the Debt Ceiling

By Matthew Berg

A fateful Saturday in January

On Saturday afternoon, the White House ruled out using platinum coin seignorage as a way to defuse the political crisis caused by Congressional Republicans’ unwillingness to raise the debt ceiling. In the words of press secretary Jay Carney:

“There are only two options to deal with the debt limit: Congress can pay its bills or they can fail to act and put the nation into default.”

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“We” Don’t Owe $16 Trillion; and You Don’t Owe $50,000

By Joe Firestone

Just saw John Sununu, one of Republicans favorite Bushie junk yard attack dogs all up in arms about the debt subject to the limit (the so-called national debt) reaching $16 Trillion dollars, and going on to tell people that every man, woman, and child in the United States now owes $50,000 to pay that debt off. Now, I’m here to tell you that all that is bull shit.

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