Calls To Mint Trillion-Dollar Coin Resurface As Government Faces Debt Crunch

Calls To Mint Trillion-Dollar Coin Resurface As Government Faces Debt Crunch


Calls for the creation of a trillion-dollar platinum coin to help the United States avoid defaulting on the national debt have resurfaced as the latest debt ceiling battle starts on Capitol Hill.

Treasury Secretary Janet Yellen notified House Speaker Kevin McCarthy (R-CA) and other lawmakers in a letter that the debt ceiling, an arbitrary cap on the national debt established by Congress, crossed the statutory limit of nearly $31.4 trillion as of Thursday. As House Republicans and the Biden administration launch negotiations to determine potential budget cuts, some Left-wing economists reintroduced calls to mint a trillion-dollar coin to resolve the debt crisis.

Nathan Tankus, a leading proponent of the idea, asserted in an article for the Financial Times that the core objection to the move is the

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