White House Nixes Idea for Trillion-Dollar Coin

That was quick-back to the fake drawing board. How about all those dicks giving stimulus money back to the treasury?

http://www.newsmax.com/Newsfront/Obama-Nixes-trillion-dollar-coin/2013/01/12/id/471126

The White House has ruled out minting a coin worth $1 trillion to pay the government's bills and avoid a nasty battle with Congress over the debt ceiling.

Some of President Barack Obama's liberal allies have been promoting the coin strategy.

But White House spokesman Jay Carney nixed that option Saturday. Carney says there are just two options: Congress either can pay the tab for spending it has racked up or it can send the nation into default, which would have serious economic consequences.

The government already has reached its $16.4 trillion borrowing limit. By late February or early March, the Treasury Department will run out of ways to cover debts and could begin defaulting on government loans.

Treasury Department spokesman Anthony Coley added Saturday that neither his department nor the Federal Reserve believes the law can or should be used to produce such a coin to avoid a coming battle with Congress over government borrowing.

The petition is still open;
https://petitions.whitehouse.gov/petition/direct-united-states-mint-make-single-platinum-trillion-dollar-coin/8hvJbLl6
WE PETITION THE OBAMA ADMINISTRATION TO:
Direct the United States Mint to make a single platinum trillion dollar coin!
With the creation and Treasury deposit of a new platinum coin with a value of $1 trillion US Dollars, we would avert the absurd-yet-imminent debt ceiling faceoff in Congress in two quick and simple steps! While this may seem like an unnecessarily extreme measure, it is no more absurd than playing political football with the US -- and global -- economy at stake.

Created: Jan 03, 2013
Issues: Economy
Learn about Petition Thresholds
SIGNATURES NEEDED BY FEBRUARY 02, 2013 TO REACH GOAL OF 25,00017,188TOTAL SIGNATURES ON THIS PETITION7,812
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