As the next debt ceiling battle rolls around in a few months, Democrats have come up with a plan to help President Obama completely bypass Congress so he won't have to negotiate with House Republicans on the issue.
Their plan involves using the U.S. Treasury to print a $1 trillion coin.
Liberals like Paul Krugman, with The New York Times?believe there is a loophole that would allow the Treasury to print a single commemorative coin worth $1 trillion.
The president would then deposit the coin in the Federal Reserve, supposedly allowing the Fed to then issue funds worth $1 trillion to keep the government running without raising the debt ceiling.
For more on this unusual idea and what it would do to America, CBN News spoke with Phil Kerpen, president of American Commitment, on CBN News Channel Morning News, Jan 10.
Source: http://www.cbn.com/cbnnews/finance/2013/January/Will-1-Trillion-Coin-Solve-the-Debt-Ceiling-Issue/
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