Tom Maguire
How can the trillion-dollar coin be legal?
Kevin Drum, a lonely lefty on this topic, pointed the way to the answer yesterday – the key is the meaning of “bullion coin” in the controversial language of the law:
(k) The Secretary may mint and issue platinum bullion coins and proof platinum coins in accordance with such specifications, designs, varieties, quantities, denominations, and inscriptions as the Secretary, in the Secretary’s discretion, may prescribe from time to time.
People like Prof. Tribe are focusing on the Treasury Secretary’s discretion in setting denominations without worrying that the phrase “bullion coin” might actually have meaning.
Blowback
Note from Hot Air management: This section is for comments from Hot Air's community of registered readers. Please don't assume that Hot Air management agrees with or otherwise endorses any particular comment just because we let it stand. A reminder: Anyone who fails to comply with our terms of use may lose their posting privilege.
Trackbacks/Pings
Trackback URL
Comments
How can the trillion-dollar coin be legal?
Obama’s not concerned with what’s legal, only with what he can get away with. Come to think of it, that’s a textbook definition of a criminal. Except that Obama does it for our own good, so he gets a pass!
Paul-Cincy on January 10, 2013 at 1:14 PM
Just take it to the supreme court. Chief “Justice” Roberts will just say it’s part of the taxing authority and be done with it.
It’s not “debt” anymore, but a tax on the unborn!
wildcat72 on January 10, 2013 at 1:15 PM
The State will do whatever it wants to do.
forest on January 10, 2013 at 1:16 PM
Libs are smart.
CycloneCDB on January 10, 2013 at 1:21 PM
How can running American guns to Mexican drug cartels be legal.
Why ask this type of question of this administration, “legal” was tossed into the fire along with the Constitution years ago.
Bishop on January 10, 2013 at 1:22 PM
Through executive order, that’s how.
Flange on January 10, 2013 at 1:27 PM
On this issue, the Foxnews site has a picture of that anti-American’s face on the ‘might get’ coin! All wanna be dictators have their face on bill/coins in the country the have taken over!
L
letget on January 10, 2013 at 1:27 PM
Doesn’t this guy know that Colbert already declared that this would be a joke?
TexAz on January 10, 2013 at 1:28 PM
That’s about a 50,000 pound (25 ton) coin to be lugging around….or, if the coin was 1/4″ thick, the diameter would be about 8,000 miles wide, which would cover, 1/2″ thick and it would cover the U.S….
right2bright on January 10, 2013 at 1:31 PM
12″ thick coin, about 170 miles in diameter…covering Virginia…
right2bright on January 10, 2013 at 1:38 PM
All I know is that platinum spot price has risen about 6.4% since this subject was broached and took off.
Coincidence? I think not.
Dusty on January 10, 2013 at 2:37 PM
How can fast and furious be legal?
How can solyndra be legal?
How can Obamacare be legal?
nazo311 on January 10, 2013 at 3:13 PM