Axios: “A trillion-dollar platinum coin could be minted “within hours of the Treasury Secretary’s decision to do so, Philip Diehl, former director of the United States Mint, tells Axios.”

Our monetary system is commanded by people who literally believe changing the “one dollar” stamp on a platinum coin to “one trillion dollars” is the solution to running out of money.

Imagine if you tried that with your student loans.https://t.co/xZyVFwYbeO

— Edward Snowden (@Snowden) October 5, 2021

FEE’s Brad Polumbo writes, “Progressives pushing this scheme are desperate to find a way they can fund their endless government spending ambitions and expansions of the welfare state without having to pay the price or deal with any consequences. That’s why the fantastical notion of a trillion-dollar coin appearing out of thin air to pay the bills is so appealing.

But there’s simply no getting around the basic economic reality of trade-offs and scarce resources, no matter how clever the scheme. Ultimately, government spending has costs that cannot be avoided—no matter how many trillion-dollar coins the Treasury mints.”

Read the entire column.

The post Some people actually believe printing a trillion dollar coin will solve spending problem appeared first on Liberty Tree.