The Left Case for the Trillion Dollar Coin

Source: In These Times
by Maurice BP Weeks

“Kevin McCarthy won the gavel for Speaker of the House through a desperate and power-hungry agreement to manufacture the debt ceiling crisis. Rep. Ralph Norman (R-S.C.) told reporters that in order to earn the vote of the Freedom Caucus, it was ​’non-negotiable’ that McCarthy promise he would ‘“shut down the government rather than raise the debt ceiling.’ Now they’re holding McCarthy to his word. In a recent article for In These Times, Max Sawicky laid out a compelling case for why the Biden administration needs to hold firm against the GOP. The programs Republicans are attempting to cut are popular, and it’s important to protect them as worthwhile in their own right. Sawicky also briefly mentioned one idea of several creative paths to bypass the Republican game of chicken and stave off global economic disaster: the minting of a trillion-dollar platinum coin.” (05/18/23)