Trillion-dollar platinum coin rolls under a million-pound couch: Apparently, we can’t have nice things! As Paula Poundstone once said!
Just when we in the liberal world solve the impending debt limit crisis, the Treasury Department comes along and puts the squadoosh on the deal.
In this morning’s New York Times, Annie Lowrey explains what Treasury—and the White House—have said:
LOWREY (1/13/13): Treasury Won’t Mint Coin to Defy Debt CeilingCongress needs to do its job? So do we in the liberal world! In this case, that would entail some very basic political blocking and tackling:
The Treasury Department said Saturday that it will not mint a trillion-dollar platinum coin to head off an imminent battle with Congress over raising the government’s borrowing limit.
“Neither the Treasury Department nor the Federal Reserve believes that the law can or should be used to facilitate the production of platinum coins for the purpose of avoiding an increase in the debt limit,” Anthony Coley, a Treasury spokesman, said in a written statement.
The Obama administration has indicated that the only way for the country to avoid a cash-management crisis as soon as next month is for Congress to raise the “debt ceiling,” which is the statutory limit on government borrowing. The cap is $16.4 trillion.
“There are only two options to deal with the debt limit: Congress can pay its bills, or it can fail to act and put the nation into default,” Jay Carney, the White House press secretary, said in a statement. “Congress needs to do its job.”
It would entail explaining the lunacy of the GOP’s threatened action to the American people. But rather than set ourselves to that task, our intellectual leaders have spent the past several weeks promoting the use of that magical coin.
Perhaps for the last time, we will promote our own take on this rather ridiculous matter:
We liberals don’t seem to know how to talk pork to the people! Often, this rather basic option doesn’t seem even to enter our heads.
The GOP’s threatened action is very dumb and very reckless. But it’s been a long time since the liberal world tried to explain such a fact to the public. It isn’t part of our DNA. It doesn’t seem to occur to our leaders that this is what we should do.
We have no forums for talking such talk. We have few leaders who occasion trust. We do like calling the people names.
North Dakota is part of the neo-Confederacy! Does advancing such claims really help?
At any rate, we don’t know how to talk to the people, even when the other side makes reckless, baldly inane proposals.
The other side knows how to mislead the people. Our side basically can’t do squat. Even when we're opposed by the one percent, the one percent comes out on top!
It's been this way for decades now. What makes us think we're so smart?