Some smart people — including Manhattan Rep. Jerry Nadler and Josh Barro of Bloomberg View — have what they think is a clever idea.
To avert a standoff on the debt ceiling, they want President Obama to mint a platinum coin, value it at $1 trillion and deposit it in the Treasury — thus eliminating $1 trillion of the national debt.
Under their reading of federal law, this authority exists. Under our reading of common sense, we can’t stop laughing.
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