Everything You Need to Know About the Crazy Plan to Save the Economy With a Trillion Dollar Coin

It is the single most important comment in the history of Internet comments. Probably.135782124263143

Back in the summer of 2011, as House Republicans threatened to force us to default on our obligations, a commenter on Cullen Roche’s blog, Pragmatic Capitalism, suggested an inventive way around the debt ceiling: a trillion-dollar coin.

Ah, the debt ceiling. It’s the ludicrous credit limit Congress has given itself, which could force us into default. Here’s why it makes no sense. Imagine you were a high-earner living beyond your means, and your credit card company came to you offering to pay you to expand your line of credit — but you said no! You’ve made a resolution not to increase your total debt anymore, no matter how attractive the offer. That’s a fine resolution, but, remember, you’re still living beyond your means.


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