With the United States facing potential economic collapse in two months unless Congress authorizes a debt ceiling increase, one unorthodox suggestion has emerged as a solution to the crisis. Thanks to an obscure federal law, the Treasury may have the authority to mint platinum coins in any denomination it chooses.
So if the Treasury were to mint and deposit a platinum coin with a value of $1 trillion, the U.S. could continue to pay its obligations without Congressional action, which would be swell, because you know how Congress is about action.
Just one question remains: who should be on the face of America's second-silliest (next to the debt ceiling itself) experiment in fiscal management?
1. Albert Gallatin. Suggested by Rep. Jerry Nadler"for his role in setting up the modern Treasury system," or
2. John Boehner, "for screwing it up."
3. Paul Ryan, specifically the Time magazine image of Ryan looking like Poochie, the hip dog from the Simpsons.
4. Ron Paul, for his contributions to monetary discourse.
5. Ronald Reagan, which would force Republicans who dislike the idea to make their own Sophie's Choice.
6. Ben Romney, for being our 2012 Person of the Year.
7. Scrooge McDuck, a cartoon figure for a cartoonish idea.
8. William Jennings Bryan, to pay homage to monetary history.
9. Sarah Palin, to pay homage to the crazy ideas of simpler times.
10. George W. Bush, whose debts the coin will be paying.
Of course, we all know how this story ends: Vice President Joe Biden loses the coin in the couch cushions, and just as it's recovered, Nicholas Cage pulls the caper of the millenium to steal it from Tim Geither's hands. But that's in the future.
For now, we need a face. Suggestions?
Tags: Debt, Economy, Money, Treasury Department