Mint The Coin
Generated from Google Bard
The trillion dollar coin is a hypothetical solution to the debt ceiling crisis. The idea is that the Treasury Department would mint a coin with a face value of $1 trillion and then deposit it at the Federal Reserve. This would increase the government’s debt limit by $1 trillion, and would allow the government to continue paying its bills without defaulting.
There are several reasons why the Treasury Department should mint a trillion dollar coin. First, it would allow the government to avoid defaulting on its debt. Defaulting on the debt would have a catastrophic impact on the economy, and would likely lead to a global financial crisis. Second, the trillion dollar coin would be a legal and constitutional way to increase the debt limit. The debt ceiling is a man-made limit on the amount of debt that the government can issue, and there is no reason why the government cannot simply raise the debt ceiling by minting a trillion dollar coin. Third, the trillion dollar coin would be a relatively painless way to increase the debt limit. The government would not have to raise taxes or cut spending in order to raise the debt limit, and the trillion dollar coin would not have any impact on the economy in the long run.
Of course, there are also some arguments against minting a trillion dollar coin. First, some people argue that it would be inflationary. However, there is no evidence to support this claim. The trillion dollar coin would not be circulating in the economy, and it would not be used to buy goods and services. Second, some people argue that it would be a gimmick. However, it is a legitimate way to increase the debt limit, and it would be a relatively painless way to do so.
In conclusion, the Treasury Department should mint a trillion dollar coin to go around the debt ceiling. It would allow the government to avoid defaulting on its debt, and it would be a legal and constitutional way to increase the debt limit. It would also be a relatively painless way to increase the debt limit.
