#SpendingIsTheProblem: Do The Math: All The Platinum In The World Still Couldn’t Pay Off The Debt

January 9, 2013

It’s Time For Nick Rahall To Sign The NRCC Petition Telling President Obama That Spending Is The Problem

WASHINGTON – Heard of that trillion-dollar platinum coin Democrats want? Well, even if you took literally every single ounce of platinum in the world, it still wouldn’t add up to enough needed to pay down our nation’s debt. Yet President Obama and Washington Democrats like Nick Rahall continue to support policies that bankrupt our country.

It’s time for Rahall to sign the National Republican Congressional Committee’s petition and tell President Obama that we don’t need trillion-dollar coins – we need to cut spending. The petition can be found at www.nrcc.org/spendingObamaCoin

“Washington Democrats believe our country’s fiscal mess can be saved by minting magic coins,” said NRCC Communications Director Andrea Bozek. “Nick Rahall and his liberal allies are bankrupting our country. It’s time for Rahall to tell President Obama and Nancy Pelosi that spending is the problem.”

In A Meeting With Speaker John Boehner, President Obama Said Our Country Doesn’t Have A Spending Problem. “‘At one point several weeks ago,” Mr. Boehner says, “the president said to me, ‘We don’t have a spending problem.’” (Stephen Moore, The Education Of John Boehner, The Wall Street Journal, 1/6/13)

Rep. Greg Walden Introduced A Bill To Banning The Creation Of Trillion-Dollar Platinum Coins. “Lawmakers are still positioning themselves for a debt ceiling fight in a few months, but one Republican congressman wants to snuff out a particular idea immediately: the U.S. Treasury minting $1 trillion platinum coins to avert a debt ceiling showdown. Rep. Greg Walden (R-Ore.) has introduced a bill to specifically ban President Barack Obama from minting the coins.” (Bobby Cervantes, “Greg Walden’s Bill Bans Minting $1T Coin,” Politico, 1/7/13)

FYI, a similar version of this release below went out to the following districts: Ann Kirkpatrick (AZ-01), Ron Barber (AZ-02), Kyrsten Sinema (AZ-09), John Garamendi (CA-03), Ami Bera (CA-07), Jerry McNerney (CA-09), Jim Costa (CA-16), Lois Capps (CA-24), Julia Brownley (CA-26), Raul Ruiz (CA-36), Mark Takano (CA-41), Alan Lowenthal (CA-47), Scott Peters (CA-52), Jim Himes (CT-04), Elizabeth Esty (CT-05), Alan Grayson (FL-05), Patrick Murphy (FL-18), Lois Frankel (FL-22), Debbie Wasserman Schultz (FL-23), Joe Garcia (FL-26), John Barrow (GA-12), Brad Schneider (IL-10), Bill Foster (IL-11), Bill Enyart (IL-12), Cheri Bustos (IL-17), Bruce Braley (IA-01), Dave Loebsack (IA-02), John Delaney (MD-06), John Tierney (MA-06), Bill Keating (MA-09), Mike Michaud (ME-02),  Tim Walz (MN-01), Collin Peterson (MN-07), Rick Nolan (MN-08), Michelle Lujan Grisham (NM-01), Steven Horsford (NV-04), Carol Shea-Porter (NH-01), Ann McLane Kuster (NH-02), Mike McIntyre (NC-07), Tim Bishop (NY-01), Steve Israel (NY-03), Carolyn McCarthy (NY-04), Jerrold Nadler (NY-10), Nita Lowey (NY-17), Sean Patrick Murphy (NY-18), Bill Owens (NY-21), Dan Maffei (NY-24), Louise Slaughter (NY-25), Peter DeFazio (OR-04), Kurt Schrader (OR-05), David Cicilline (RI-01), Ruben Hinojosa (TX-15), Pete Gallego (TX-23), Jim Matheson (UT-04), Suzan DelBene (WA-01), Denny Heck (WA-10), and Nick Rahall (WV-03)