The Trillion-Dollar Platinum Coin: The Democrats’ “New Nuclear Option” NRCC | January 9th, 2013
Over the last few days, Washington liberals have started planning a way to “pay off” our debt without cutting spending: simply minting a trillion-dollar coin to deposit in the Treasury. Today, The Washington Post’s Fix blog took on this coin gimmick calling it Democrats’ “new nuclear option.”
“Put simply: Minting a trillion dollar coin would ratchet up the partisanship and gamesmanship in Washington to a level we haven’t seen (though we know that’s hard to believe). And it also would open up Obama and the White House to charges of manipulating the political system in an underhanded way. ‘I seriously doubt the president would risk jamming the Congress and the American public with the coin,’ said Republican former congressman Tom Reynolds (N.Y.).
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NRCC Chairman Greg Walden wants to stop this coin in it’s tracks.“The fantastic attempt at a work-around has worked its way from academic circles into the political mainstream, so much so that Republican Rep. Greg Walden (Ore.) has seen fit this week to introduce legislation to prevent such a maneuver.”
NRCC Communications Director Andrea Bozek said today that our country doesn’t need higher taxes or platinum coins, but simply to acknowledge that Washington has a serious spending problem.
“Washington Democrats believe our country’s fiscal mess can be saved by minting magic coins,” said NRCC Communications Director Andrea Bozek. “They are bankrupting our country. It’s time for liberals to tell President Obama and Nancy Pelosi that spending is the problem.”