Why should the President put a coin in the meter to buy House Republicans more time?

[TeamPooka]

No coin for you GOP.
Fix it yourselves.


http://www.huffingtonpost.com/2013/01/12/obama-platinum-coin_n_2458379.html

WASHINGTON -- The U.S. Treasury Department will not mint a high-value platinum coin to avert the debt ceiling, according to an official statement from the Obama administration obtained by the Huffington Post on Saturday.

"Neither the Treasury Department nor the Federal Reserve believes that the law can or should be used to facilitate the production of platinum coins for the purpose of avoiding an increase in the debt limit," the statement reads.

Obama has never given any indication that he would be amenable to "the platinum option," but White House spokesman Jay Carney refused to rule it out in a press conference earlier this week.

A 1996 law permits the Treasury to mint platinum coins at any denomination it wishes, irrespective of the amount of platinum used in the coin. A $1 trillion coin could be deposited at the Federal Reserve, giving the Treasury the power to withdraw funds based on this account to meet government obligations. The coin would not grant any new spending powers to the administration, however, and as a result would be unlikely to cause inflation. It would only allow the Obama administration to pay bills already incurred by Congress. Refusing to raise the debt ceiling would prevent the government from making good on its existing commitments...........

[randome]

1. Because the 'coin in the meter' costs nothing.

There is time for this to play out. I think minting a $1 trillion dollar coin would roil the markets. We don't need that.