Keep hope alive: Jay Carney refuses to rule out insane trillion-dollar coin idea

posted at 7:31 pm on January 9, 2013 by Allahpundit

Via Mediaite. In fairness, he’s almost ruling it out: The clip begins with a giggle when Chuck Todd asks him about it and then he spends three minutes insisting that there’s no alternative to raising the debt ceiling. Realistically, the White House has too much invested in their narrative that the House GOP is off-the-grid crazy for Obama to suddenly out-looney them with a ploy like this. And if they’re intent on trying a legally dubious end-around the debt ceiling, the 14th Amendment option is way more salable to the public than a trillion-dollar coin. (Although, interestingly, Carney’s been firmer about rejecting that out of hand than he is here.) But a conservative blogger can dream, can’t he?

I was thinking last night after reading Megan McArdle’s piece that, although we’re still a few days away from his second inauguration, it’s already reasonably clear what Obama’s presidential legacy will be. There may be big things still to come — a confrontation with Iran looms largest — but barring something truly momentous and unexpected happening before 2016, in 20 years’ time historians will remember The One for his total, almost cavalier refusal to deal seriously with the country’s approaching fiscal crisis. Until now, the hallmark of Democratic unseriousness was Harry Reid’s failure to pass a budget, to the point where Republicans have actually begun to consider their legal options to get him to do it. But the trillion-dollar-coin gambit would wipe that away. Obama’s announcement of it would instantly become the touchstone moment illustrating the lengths to which he was willing to go to avoid a bipartisan reckoning with entitlement spending. Rather than make a painful deal with Republicans, he actually chose to mint a coin worth a trillion dollars so that the government could continue borrowing at a rate which literally everyone agrees is unsustainable. That’d be some legacy. Not even the historians who’ll write his hagiography will be able to spin it.


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I know three coins.

rogerb on January 9, 2013 at 7:32 PM

Why does it just have to be a 1 Trillion dollars???

If they’re gonna just make $hit up, why not make it an “Infinity Dollar Coin”

BigWyo on January 9, 2013 at 7:36 PM

Don’t let Joe Biden hold the coin. He’ll toss it in a wishing well.

portlandon on January 9, 2013 at 7:37 PM

. Not even the historians who’ll write his hagiography will be able to spin it.

Haha.
Two words:
“Bush’s fault”

Dr. Carlo Lombardi on January 9, 2013 at 7:38 PM

One coin to rule them all…

FireFly on January 9, 2013 at 7:39 PM

Heck, while we are having wild fantasies let’s just go to a moneyless economy.

boomer on January 9, 2013 at 7:42 PM

Idiotic electorate votes for an idiot, news at 11…

hillsoftx on January 9, 2013 at 7:42 PM

If you think about it, Obama doesn’t have to actually mint the coin. He just has to say that he did and that it’s over at the Fed bank. Fiat means fiat.

Weight of Glory on January 9, 2013 at 7:42 PM

Let them do it.

fatlibertarianinokc on January 9, 2013 at 7:43 PM

Not even the historians who’ll write his hagiography will be able to spin it.

You forgot the sarc tag.

SagebrushPuppet on January 9, 2013 at 7:43 PM

Don’t let Joe Biden hold the coin. He’ll toss it in a wishing well.

portlandon on January 9, 2013 at 7:37 PM

Or put it in a parking meter.

SagebrushPuppet on January 9, 2013 at 7:44 PM

If you think about it, Obama doesn’t have to actually mint the coin. He just has to say that he did and that it’s over at the Fed bank. Fiat means fiat.

Weight of Glory on January 9, 2013 at 7:42 PM

This.

I think he should declare that the pair of underwear he wore yesterday is now worth One Go-Zillion Dollars.

Problem solved.

BigWyo on January 9, 2013 at 7:45 PM

O/T, but read the Victor Davis Hansen(VDH) piece in the “headlines”. Dead on target.

msupertas on January 9, 2013 at 7:47 PM

More Squirrels –
More Squirrels –
More Squirrels –
More Squirrels –
More Squirrels –

The Jobs Laser must not be working – anymore.

FlaMurph on January 9, 2013 at 7:48 PM

Why does it just have to be a 1 Trillion dollars???

If they’re gonna just make $hit up, why not make it an “Infinity Dollar Coin”

BigWyo on January 9, 2013 at 7:36 PM

ok that gets my vote for funniest comment this year.

Bacon4allah on January 9, 2013 at 7:49 PM

Don’t let Joe Biden hold the coin. He’ll toss it in a wishing well.

portlandon on January 9, 2013 at 7:37 PM

Or put it in a parking meter.

SagebrushPuppet on January 9, 2013 at 7:44 PM

Joe doesn’t drive.
Come to think about it, I hope they make it larger than a subway token…

JusDreamin on January 9, 2013 at 7:51 PM

More Squirrels –
More Squirrels –
More Squirrels –
More Squirrels –
More Squirrels –

The Jobs Laser must not be working – anymore.

FlaMurph on January 9, 2013 at 7:48 PM

Obama is light in the loafers. That makes it impossible to execute that hard pivot on the economy.

tom daschle concerned on January 9, 2013 at 7:52 PM

Heck, while we are having wild fantasies let’s just go to a moneyless economy.

boomer on January 9, 2013 at 7:42 PM

How many chickens for a carburetor?

Theophile on January 9, 2013 at 7:52 PM

…flip a coin!

KOOLAID2 on January 9, 2013 at 7:55 PM

Or put it in a parking meter.

SagebrushPuppet on January 9, 2013 at 7:44 PM

Joe doesn’t drive.

JusDreamin on January 9, 2013 at 7:51 PM

What’s your point?/

SagebrushPuppet on January 9, 2013 at 8:00 PM

I think DrewM of Aos summed it up pretty nicely.

AND knowing our leadership, we’ll end up fighting amongst ourselves by time this whole thing is over with.

God how depressing.

Lance Murdock on January 9, 2013 at 8:03 PM

IOW:

This administration is out to damage America, by hook or crook.

These are not the actions of patriots, or even moderately good citizens.

hillbillyjim on January 9, 2013 at 8:05 PM

Let’s make it a 20 trillion dollar coin. That way we can pay off the entire national debt with it and have enough left over to “invest” in some algae or something.

TarheelBen on January 9, 2013 at 8:06 PM

Rather than make a painful deal with Republicans, he actually chose to mint a coin worth a trillion dollars so that the government could continue borrowing at a rate which literally everyone agrees is unsustainable.

THE COIN WOULD NOT BE WORTH A TRILLION DOLLARS. The Obama administration would merely ASSIGN it a value of $1 trillion.

The Debt Ceiling, The 14th Amendment, “The D’Oh Coin!” & The Confederacy of Dunces

Resist We Much on January 9, 2013 at 8:10 PM

Our local Houston Comical is still reporting this as a possible solution to the debt.

They’re taking us down. What’s the signal to begin to fight back?

DanMan on January 9, 2013 at 8:13 PM

Heck, while we are having wild fantasies let’s just go to a moneyless economy.

boomer on January 9, 2013 at 7:42 PM

My tile contractor, who describes himself as “communist”, tried to sell this idea to me. He said it would be wonderful. Then he could just come over to help me tile and it wouldn’t cost anyone anything. I asked him what would motivate him to show up and finish the job in a timely manner in his scenario.

Kungfoochimp on January 9, 2013 at 8:16 PM

With Obama deficits, the trillion dollar coin would be spent by August.

MichaelGabriel on January 9, 2013 at 8:20 PM

I have a vision of Biden playing with a new super ball at the presentation of the freshly minted mega coin.

Barky turns to him and asks for the trillion buck coin.

Biden stops playing with super ball, looks slowly at Bark, drops super ball which bounces up and down out of the camera view.

Bishop on January 9, 2013 at 8:21 PM

America has it’s own Mugabe now .
Whodathunk ?

burrata on January 9, 2013 at 8:21 PM

Jay Carney refuses to rule out insane trillion-dollar coin idea

Back-up plan:
1,000 one-billion-dollar obama posters.

Tim_CA on January 9, 2013 at 8:25 PM

Let’s make it a 20 trillion dollar coin. That way we can pay off the entire national debt with it and have enough left over to “invest” in some algae or something.

TarheelBen on January 9, 2013 at 8:06 PM

You’re a selfish, ethnocentric pig. We need to make it 500 trillion dollars so we can end world poverty, feed the rest of the world, and end war.

Timin203 on January 9, 2013 at 8:27 PM

c’mon Timin203, that would like too extreme. Make it $380 trillion and sell it as austere.

DanMan on January 9, 2013 at 8:34 PM

We need to make it 500 trillion dollars so we can end world poverty, feed the rest of the world, and end war.

Timin203 on January 9, 2013 at 8:27 PM

So that‘s how Miss Universe and Miss World can achieve world peace ;-)

burrata on January 9, 2013 at 8:39 PM

What a loony perfectly constitutional and reasonable thing it is to do like OMGZ GUYSZ

Rainsford on January 9, 2013 at 8:40 PM

Resist We Much on January 9, 2013 at 8:10 PM

Wait…I got a feeling that some one’s said that before…

BigWyo on January 9, 2013 at 8:46 PM

Trillion dollar con more like it.

Dr. ZhivBlago on January 9, 2013 at 8:51 PM

Wait…I got a feeling that some one’s said that before…

BigWyo on January 9, 2013 at 8:46 PM

???

Resist We Much on January 9, 2013 at 8:54 PM

I don’t know why everyone thinks the minting of $1 trillion platinum coins would be absurd. Of course, it’s a good idea!
The government just needs to make sure each one is 3 feet thick with a 40 foot diameter, weighing in at 22,700 TONS of pure platinum (at the current price of platinum). Won’t have to worry about theft, either.

michaelo on January 9, 2013 at 8:57 PM

???

Resist We Much on January 9, 2013 at 8:54 PM

Why does it just have to be a 1 Trillion dollars???

If they’re gonna just make $hit up, why not make it an “Infinity Dollar Coin”

BigWyo on January 9, 2013 at 7:36 PM

I think he should declare that the pair of underwear he wore yesterday is now worth One Go-Zillion Dollars.

Problem solved.

BigWyo on January 9, 2013 at 7:45 PM

Just sayin…

BigWyo on January 9, 2013 at 9:06 PM

Zimbabwe here we come. Slow Joe would use it to buy a bag of Cheetos at the White House canteen.

Philly on January 9, 2013 at 9:25 PM

Why not just sprinkle some magic beans on the debt.

scalleywag on January 9, 2013 at 9:35 PM

A trillion dollar coin… back by the full faith and credit of the Zimbabwe government.

ya2daup on January 9, 2013 at 9:38 PM

Carney. You have no I. in your Q.

Our present administration: morally and intellectually bankrupt and working hard on the fiscal equivalent.

ghostwalker1 on January 9, 2013 at 11:52 PM

Why does it just have to be a 1 Trillion dollars???

If they’re gonna just make $hit up, why not make it an “Infinity Dollar Coin”

BigWyo on January 9, 2013 at 7:36 PM

I wouldn’t put it past Obama to do just that.

Myron Falwell on January 10, 2013 at 2:41 AM

Who cares about the Trillion Dollar Coin.

I have a Googleplex coin carved out of the Hope Diamond.

Varchild on January 10, 2013 at 4:52 AM

Two dimensional thinking. *twitch* There’s no reason *twitch* the monetary denomination of the coin should be constant *twitch* and not mutable. We could create a simple state and algorithm that allows for continuous reassignment *twitch* of the coin’s denomination, having pressed into the metal of the coin a holographic symbol that is defined under statute to mean the value of that particular *twitch* state.

Problem *twitch* solved.

Axe on January 10, 2013 at 7:57 AM

Let them do it.

fatlibertarianinokc on January 9, 2013 at 7:43 PM

Not until I’ve bought more ammo.

freedomfirst on January 10, 2013 at 12:01 PM

Rather than make a painful deal with Republicans, he actually chose to mint a coin worth a trillion dollars so that the government could continue borrowing at a rate which literally everyone agrees is unsustainable. That’d be some legacy. Not even the historians who’ll write his hagiography will be able to spin it.

Hmmm. Just speculating, but …

Something had to be done.

is still a possibility.

In the new political world, it’s no longer necessary to solve problems. You just have to be able to blame them on the right villains.

I’m not saying there are no limits to this strategy. Just that we haven’t found any, yet.

tom on January 10, 2013 at 12:39 PM

Let’s make it a 20 trillion dollar coin. That way we can pay off the entire national debt with it and have enough left over to “invest” in some algae or something.

TarheelBen on January 9, 2013 at 8:06 PM

Well now you’re just being silly.

tom on January 10, 2013 at 12:43 PM

Let’s make it a 20 trillion dollar coin. That way we can pay off the entire national debt with it and have enough left over to “invest” in some algae or something.

TarheelBen on January 9, 2013 at 8:06 PM

You’re a selfish, ethnocentric pig. We need to make it 500 trillion dollars so we can end world poverty, feed the rest of the world, and end war.

Timin203 on January 9, 2013 at 8:27 PM

Bunch of pikers, the lot of you. This should be at least one quadrillion, if only to give them some maneuvering room. For the sake of prudence, though, let’s make it $100 quadrillion as a one-off and consider the matter finished.

In every sense of the word.

VekTor on January 10, 2013 at 6:10 PM