Trillion Dollar Coin Explodes: Krugman, Congress is talking about it

Krugman talks long and loud on the Coin: “First, as a legal matter the Federal government can’t just print money to pay its bills, with one peculiar exception. Instead, money has to be created by the Federal Reserve, which then puts it into circulation by buying Federal debt. You may say that this is an […]

The Trillion Dollar Coin and the Debt Ceiling

It appears we’re going to hit the debt ceiling sometime right before the election, according to Mark Zandi and Talking Points Memo: “There is a risk that the treasury will hit its $16.4 trillion debt limit before the next presidential inauguration,” emails Moody’s chief economist Mark Zandi. “It will be close. I suspect the Treasury […]