Issuing a trillion-dollar coin doesn’t seem nearly as bad as any of the others in its bullet. Isn’t it just an accounting gimmick roughly equivalent to raising the debt ceiling by $1 trillion?
The idea is they’re printing money, not just borrowing it, which in the extreme would cause hyperinflation (and is equivalent to default since debt is in nominal dollars). It probably seems less bad though.
Issuing a trillion-dollar coin doesn’t seem nearly as bad as any of the others in its bullet. Isn’t it just an accounting gimmick roughly equivalent to raising the debt ceiling by $1 trillion?
The idea is they’re printing money, not just borrowing it, which in the extreme would cause hyperinflation (and is equivalent to default since debt is in nominal dollars). It probably seems less bad though.
It also makes for a fantastic heist movie premise.