Jan. 8, 2013
The looming showdown between President Barack Obama and congressional Republicans over raising the $16.4 trillion federal debt limit has made alternatives including minting a trillion-dollar coin or invoking a constitutional amendment to pay the bills part of the political debate.
So far, the Obama administration isn’t participating...
The Treasury will run out of funds to pay its bills between Feb. 15 and March 1, the Washington-based Bipartisan Policy Center said in a report yesterday...
Steve Bell, senior director of economic policy at the Bipartisan Policy Center, said he doesn’t think the U.S. would try either the coin or the constitutional amendment.
“I cannot imagine the United States not paying its debts in full and on time,” said Bell, a former Republican Senate Budget Committee aide. “Despite that we always go to the last day at 11:59 and everything, we always seem to get something cobbled together.”
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Economic Policy Project