WASHINGTON, D.C. (WUSA) - Once again, we see Congress and the President hurtling headlong toward another deadline.
The debt-ceiling must be raised or else.
But while most of us hope against hope against hope that President Obama and the Republican House can work a deal, there is another option. It's called the platinum trillion dollar coin. Turns out a never-used section of Federal law allows Uncle Sam to mint platinum coins of whatever denomination he likes.
Essentially, that means if the debt ceiling isn't raised and the government starts running out of cash because it can't borrow more, the government can create a trillion dollars out of nothing, deposit it in the treasury.
And Voila, the bills are paid. Surreal? Bizarre? Sure. But at least theoretically legal. And when asked, the White House hasn't ruled it out. So is the trillion dollar coin really an option?
Yeah! A nuclear one, sure to blow up what ever slim fragments of bipartisanship still exist in this town. Plus The American people would rightly see it as just a little too slick, a power grab even.
So while we cannot afford to put our nation's credit at risk again,we need another option. Perhaps reasonable leaders with statesmanship and vision making a deal in the best interest of the country. Hmmm. Like I said, there's this trillion dollar coin....