FUNNY MONEY: Could a Trillion-Dollar Coin Solve the Debt Ceiling?
(page 1 of 5) View Entire Story

Imagine sitting around the kitchen table, trying to figure out how you're going to pay off that next-generation HDTV you just bought. 

Then someone has an idea. Brush off one of the old checker pieces in the attic, assign it a value of, say, $2,000 -- and use that newly minted "coin" to pay the credit card. 

Such an absurd idea is, pun intended, gaining currency as a technically legal way for Washington to avert a looming fight over the debt ceiling. A Democratic congressman, a Nobel-winning economist and several prominent writers are now floating the idea that the Treasury Department should use obscure powers to mint a $1 trillion coin if Congress does not permit an increase in the debt ceiling. 

That coin, then, could be used to pay America's debts. 

Rep. Jerrold Nadler, D-N.Y., told Capital New York that the "out of the ordinary" idea could actually work. 

"I'm being absolutely serious," he said. "It sounds silly, but it's absolutely legal." 


Next Page
More Top Stories