Money in the world’s largest economy is at risk of running dry after two weeks over latest statements by Secretary Janet Yellen saying the U. S. will hit its USD 28.4 trillion (USD 39.6 trillion) debt limit on 18 October unless a temporary funding solution is found by Congress.
The stock market is at risk of chaos, while the US government is facing a blow to its reputation. Some politicians are advocating the Biden administration reach for a nuclear option: mint a USD 1 trillion coin.
With Democrats and Republicans on a deadlock over raising the debt ceiling, creative options are put on the table.
U. S. media talk about minting a commemorative coin, allowing it to theoretically create the super high-value platinum token to get the White House out of its borrowing crises.
Overcoming a divided Congress, the proposed coin could be deposited with the Federal Reserve to reduce the overall debt level, providing needed twist space under the debt ceiling.
While the White House has rejected the idea, House Speaker Nancy Pelosi said that Democrats discuss the feasibility of this proposed coin as an option.
Tags Coin Congress debt ceiling Pelosi USD
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