The trillion dollar coin idea is back as a wacky way to prevent financial Armageddon
CNN
If it's debt ceiling crisis season, then it's also time for the craziest solution to the problem: Getting President Joe Biden to issue a $1 trillion coin.
The idea, which has been around for about a decade, is that the president can issue a $1 trillion "commemorative" coin, deposit it with the Federal Reserve, and allow the government to keep paying its bills.
A US government default on its debt would deal a body blow to the economy, resulting in widespread job losses, higher interest rates and economic pain that would last for years. Treasury Secretary Janet Yellen has predicted a "widespread economic catastrophe" if the debt ceiling isn't raised, with millions of Americans suddenly strapped for cash.
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