Oct
06

More Money

Absent a debt ceiling increase, the US will begin running out of money by mid-October. One solution, a $1 trillion coin made by the Treasury and deposited at the Fed. Presto, a trillion dollars! The problem – this has the President conducting monetary policy (done only by the Fed) to solve fiscal policy (the domain of Congress). Moreover, money is spent without borrowing or higher taxes. Still, it beats default.

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