Obama's Trillion Dollar Coin Option

[wgbgator]

Originally Posted by gator996

To be honest wgb, i thought that was dad4x's response...

Hence I thought it was his "serious" response to How?

Didn't even look at the poster...If I had, I would have recognized that
it was a theoretical response.

My apologies.

Its cool, I've made the same mistake before.

[wgbgator]

Originally Posted by gator996

How are you collecting revenues without a government?
Who's accounting for them?

I'm sure the IRS will work for free, and people will keep paying taxes for services they won't receive.

[Matthanuf06]

Originally Posted by gator996

How are you collecting revenues without a government?
Who's accounting for them?

Shouldn't be too expensive to keep the government debit card active for deposits from employers.

[gator996]

And the Treasury dept will keep on working for free so that we can pay back the Chinese for all of that $16T in bonds they'll be redeeming over the next 30 years.

[wgbgator]

To be perfectly serious, if some of these posts are any indication of the thinking of the majority of the House GOP, Obama should mint that coin post haste.

[Matthanuf06]

Originally Posted by gator996

And the Treasury dept will keep on working for free so that we can pay back the Chinese for all of that $16T in bonds they'll be redeeming over the next 30 years.

Keep them working. What's your point? Gov shutdown doesn't mean absolutely everything to do with government ceases. Collect revenue and pay coupons.

[wgbgator]

Originally Posted by Matthanuf06

Keep them working. What's your point? Gov shutdown doesn't mean absolutely everything to do with government ceases. Collect revenue and pay coupons.

I seem to remember when the government shut down in the 90s, that that went over very well. Good luck winning an election when those SS checks fail to go out and Medicare goes unfunded, and you've got the president hammering you for it ceaslessly.

[Matthanuf06]

Originally Posted by wgbgator

I seem to remember when the government shut down in the 90s, that that went over very well. Good luck winning an election when those SS checks fail to go out and Medicare goes unfunded.

Oh well. A politician should be focused on the best interest of the nation rather than buying votes.

[wgbgator]

Originally Posted by Matthanuf06

Oh well. A politician should be focused on the best interest of the nation rather than buying votes.

One would think keeping the government fuctioning and keeping its promises would be in the best interest of the nation, but that's just me.

[gator996]

Originally Posted by Matthanuf06

Keep them working. What's your point? Gov shutdown doesn't mean absolutely everything to do with government ceases. Collect revenue and pay coupons.

So now you want a partial shutdown?

An admission that the federal government isn't 100% the debil?

I'm going to consider the we can solve the debt by shutting down the government conversation closed...it will not payoff the debt. OK?

But on a more serious note, what else in the non-100% shutdown needs to stay open?

Come on conservatives tell us what's essential...what's the "right" size of government?

[g8trjax]

Originally Posted by wgbgator

To be perfectly serious, if some of these posts are any indication of the thinking of the majority of the House GOP, Obama should mint that coin post haste.

I'm in favor of minting 1 or 2 hundred coins. Obama could then give us a sweet fifty year income tax break.

[Matthanuf06]

Originally Posted by wgbgator

One would think keeping the government fuctioning and keeping its promises would be in the best interest of the nation, but that's just me.

Short term pain is certainly better than economic collapse in a decade or so. With these debt and deficit levels there will be pain. Would we rather a lot of pain in the future or a little now?

And I know SS payments aren't a "little" pain to the recipients, but its nothing compared to what will happen if the dollars is crushed to pay the debt

[g8trjax]

Originally Posted by wgbgator

To be perfectly serious, if some of these posts are any indication of the thinking of the majority of the House GOP, Obama should mint that coin




post haste.

I'm in favor of minting 1 or 2 hundred coins. Obama could then give us a sweet fifty year income tax break.

[wgbgator]

Originally Posted by Matthanuf06

Short term pain is certainly better than economic collapse in a decade or so. With these debt and deficit levels there will be pain. Would we rather a lot of pain in the future or a little now?

And I know SS payments aren't a "little" pain to the recipients, but its nothing compared to what will happen if the dollars is crushed to pay the debt

A false dilemma if I've ever heard one.

[Matthanuf06]

Originally Posted by gator996

So now you want a partial shutdown?

An admission that the federal government isn't 100% the debil?

I'm going to consider the we can solve the debt by shutting down the government conversation closed...it will not payoff the debt. OK?

But on a more serious note, what else in the non-100% shutdown needs to stay open?

Come on conservatives tell us what's essential...what's the "right" size of government?

I'm only concerned with paying off our t-debt. That would defeat the entire purpose of the shutdown if we defaulted on our sovereign debt.

We can certainly solve the debt problem via govt shutdowns. Maybe you are under the impression that we'd shut it down forever and the savings would be able to pay our debt? Sure I guess that technically true, but it's a negotiating tactic. The left will only be willing to make needed cuts if it has to, and stopping the government gravy train may be the only tactic that will work. Maybe after a couple of weeks of the Dems constituents not getting paid off they'd realize 80% is better than 0%. Point is: it's the only leverage responsible Americans have

[Matthanuf06]

Originally Posted by wgbgator

A false dilemma if I've ever heard one.

I'd suggest you become educated in economics and finance. Your solution is the future generations default rather than pay it off. What kind of solution is that? Although at least you are honest, by definition that is the leftist position. They would just rather debase the currency to do it. Props for your honesty to screw the future

[wgbgator]

Originally Posted by Matthanuf06

I'd suggest you become educated in economics and finance. Your solution is the future generations default rather than pay it off. What kind of solution is that? Although at least you are honest, by definition that is the leftist position. They would just rather debase the currency to do it. Props for your honesty to screw the future

Props for your honesty about defaulting now and screwing real, and not hypothetical people in the present.

[corpgator]

Originally Posted by Matthanuf06

Short term pain is certainly better than economic collapse in a decade or so. With these debt and deficit levels there will be pain. Would we rather a lot of pain in the future or a little now?

And I know SS payments aren't a "little" pain to the recipients, but its nothing compared to what will happen if the dollars is crushed to pay the debt

We are nowhere near economic collapse. Not even several decades hence. A little inflation and a better economy and suddenly all our problems are gone.

Repubs are just sensing an opportunity to use our currently bad economy to get certain democratic programs cut while increasing their own favorites.

[orangeblueorangeblue]

I think what people fail to understand is that - unlike a household budget - we are able to pay debt based on the future prospect of us having money. In other words, we generate actual money simply by the expectation of us making money later.

When we generate money - something we do with some frequency - it doesn't go into our federal pockets. Rather, it goes to feed the people who will both buy and re-sell our future debt. There ultimately isn't much (if any) money lost on a repaid debt by the federal government because it's largely a closed ecosystem. Now, foreign debt (which is a small percentage) is a different tale, but we pay extraordinarily low interest on that. It's almost negligible.

[orangeblueorangeblue]

In other words, the absolute worst thing you can do is to compare an economic ecosystem to a household budget. Yet people do it daily. The minute you can turn future earnings into actual cash today or print your money is the very minute that becomes a valid comparison.