Token of all tokens: Could a $1T coin fix the debt limit?

KIFI

Published October 5, 2021 10:15 PM

By CALVIN WOODWARD
Associated Press

WASHINGTON (AP) — It would be the token of all tokens: a $1 trillion coin, minted by the U.S. government, then cashed in to flood the treasury with cash and solve a political impasse over suspending the debt limit. The idea is getting some attention in Washington as an Oct. 18 deadline approaches, with Democrats and Republicans deadlocked over how to stave off an unprecedented credit default. But the coin seems to be a nonstarter with the White House and Treasury Secretary Janet Yellen. They say the debt limit can only be suspended the usual way, through congressional action, however tough that task is.

Article Topic Follows: AP National Business

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