FRONT PAGE CONTRIBUTOR
Trillion dollar coin idea *finally* goes down in flames.
Forget about the government minting a $1 trillion coin to solve its debt-limit crisis.
Treasury Department spokesman Anthony Coley said Saturday that neither his department nor the Federal Reserve believes the law can or should be used to produce such a coin to avoid a coming battle with Congress over government borrowing.
Some of President Barack Obama’s liberal allies have been promoting the coin strategy.
Yeah. The really, really, really stupid ones: apparently, there are people out there who thought that you could dump a trillion dollars into the economy in one go and NOT get vicious inflation. This is what happens when you only read history books that have the words ‘social’ or ‘people’s’ in the title…
Moe Lane (crosspost)