Why the $1 trillion coin campaign is good for America

By meeting absurdity with absurdity, "mint the coin" advocates may show debt-ceiling hostage takers the recklessness of their own premises

To mint or not to mint?
(Image credit: ThinkStock/Digital Vision)

As I follow the back-and-forth over the platinum coin option, I've come to appreciate that its most vocal champions — Business Insider's Joe Weisenthal, Bloomberg's Josh Barro, and The Atlantic's Matthew O'Brien — are doing the public (or at least that portion of the public that pays attention to esoteric fiscal policy) a great service.

For the uninitiated, the platinum coin option is a hypertechnical end-run around the federal debt limit statute. Citing a 1996 law governing the minting of collectors' coins, the treasury secretary could theoretically deposit a $1 trillion coin or two at the Federal Reserve and temporarily bypass a vote of Congress to increase the debt ceiling.

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Scott Galupo

Scott Galupo is a freelance writer living in Virginia. In addition to The Week, he blogs for U.S. News and reviews live music for The Washington Post. He was formerly a senior contributor to the American Conservative and staff writer for The Washington Times. He was also an aide to Rep. John Boehner. He lives with his wife and two children and writes about politics to support his guitar habit.