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Sat 8:50pm: White House nixes idea for trillion-dollar coin

January 12, 2013

WASHINGTON — The White House has ruled out minting a coin worth $1 trillion to pay the government's bills and avoid a nasty battle with Congress over the debt ceiling....

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(46)

valleyres

Jan-14-13 8:04 PM

Any one who thinks this out of contol borrowing and spending can go on forever is a complete idiot.

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truthmonger

Jan-14-13 2:47 PM

Our total bill for foreign policy is about $1.3 trillion annually. We could pay off the debt in a dozen years, plus tax the top .1% at 50% for a decade.

Then simply require a balanced budget heretofore.

Anyone who thinks we couldn't survive without our over-the-top military and over-bearing foreign policy is paranoid. Let China protect the land of Walmart for a while, that's where they get a lot of their bread buttered.

Anyone who thinks

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truthmonger

Jan-14-13 1:36 PM

People got to lighten up a little. We will survive.

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truthmonger

Jan-14-13 1:35 PM

If you could go through bankruptcy, why can't Uncle Sam? It's bad, but it's not the end of the world.

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Ihateusblues

Jan-14-13 12:15 PM

Unitefortruth, thanks for answering. That was by far the best comment you posted yet!

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unitedfortruth

Jan-14-13 8:39 AM

i guess i should have said..."we NEEDED it very badly."

instead of the politicians being honest in the past and letting us go thru some hard months while our economy resets itself on the right path as all excess debt is liquidated and funds are allowed to flow to actual functioning parts of the economy, they have manipulated the system for their advantage and the advantage of campaign donors. in doing so, they have us on a path that the global markets are going to force that reset onto our country. thats worse.

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unitedfortruth

Jan-14-13 8:35 AM

i hateusblues....for the sake of maybe you are being serious, we cannot pay down the debt. if we attempted it right now, it would send us into a deflationary depression(which we need very badly), the exact depression the politicians are spending trillions of dollars to kick down the road. the problem is, as time goes on the more each congress and each new president has to spend so the depression does not fall on their watch, no matter who the president is at this point. also, the longer they delay the depression thru massive spending, the worse it is going to hurt guys like you and me.

so, the answer to your question is no, we arent even attempting to cut anything. we cant. every sector of the economy is now tied to the next. think of dominoes, you quit funding one domino and it will fall, causing the rest of the dominoes to fall after. our problem is not only systematic, its systemic.

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Ihateusblues

Jan-14-13 8:09 AM

"Better try math class again to! Basic arithmetic obviously" <----USBlues.

And spelling is your biggest failure. Try working at that.

Still no one have answered my question. Dumb as it may "seem" clemmens, I simply asked because I am curious.

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clemmens14

Jan-13-13 10:08 PM

It's unfortunate our first black president has ended being our worst.

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clemmens14

Jan-13-13 10:02 PM

"I still have a lot to learn. My question is... Since the working Americans have witnessed their taxes go back to the prior rates, are we paying the debt down?"

That is the dumbest, most uninformed question I have ever read on this site.

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clemmens14

Jan-13-13 9:58 PM

Maybe we can solve our debt problem by not spending so much?

I know, that's an extremist view of things. You republicans and democrats cannot handle such blasphemy against the great government of America!

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clemmens14

Jan-13-13 9:56 PM

Ihateblues...Yea, ummmm, I don't believe United is a republican. I don't quite understand your comment.

Jtoday...I'm a real conservative, a Ron Paul conservative. I will comment on your post....when I read that I wonder how any red-blooded American can support either party after a ridiculous chart like that. It's scary and it's bringing massive consequences behind it all.

The spending that has happened under Obama has created a massive bubble that we cannot escape. Nice little chart though.

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clemmens14

Jan-13-13 9:50 PM

I'm sure they were depleted of the little they had by the end of the day. As for ammo, they were limiting to 10 box max. There was almost nothing left. i'm finding it hard to convey how real all seems to be becoming."

Whoa! All over the country is like this. Guns are going fast! Better get yours.

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clemmens14

Jan-13-13 9:49 PM

"I was in PA today and went to BPS and Cabela. I was stunned.

At BPS they were almost totally sold out of ALL handguns. CASES and CASES were totally empty. GONE. They were totally out of 9mm, 357 ammo and just about everything else. I took pictures but since there's people in them I'm not going to post them. Staff says they can't get anything else at this point, their suppliers are out. There was a sizable crowd scanning the empty cases and shelves. Salespeople I talked to said they are convinced that if anyone tries to take weapons from Americans there's going to be a civil war. They said they're seeing people who used to be anti-gun want to get one because they're afraid of what they think is happening.

Later, I stopped at Cabelas. This place is right off the highway and very visible from a distance. The crowd there was even bigger. They still had a few --very few--handguns but nothing left that was a carry piece, imo.....cont

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Ihateusblues

Jan-13-13 9:02 PM

In response to Unitedfortruth's statement.

"Hey republican, sit boy sit... Goooooood boy now roll over....roll over again.....good good boy. Now speak Mitt, Mitt, Mitt, Mitt!!!!! Good boy."

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Ihateusblues

Jan-13-13 9:00 PM

Question....only serious answers only though.

I still have a lot to learn. My question is... Since the working Americans have witnessed their taxes go back to the prior rates, are we paying the debt down?

Just curious.

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jtoday

Jan-13-13 7:30 PM

DOES ANY CONSERVATIVE HAVE THE GUTS TO COMMENT ON MY POSTED LIST OF DEBT CEILING ACTIONS?????

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liemonger

Jan-13-13 7:03 PM

"You conservatives are at the same time scary and comical."

No one is as bad as you chemically imbalanced libtards.

Bot.

Bot.

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jtoday

Jan-13-13 4:28 PM

The debt ceiling in recent history:

Obama - 3 times in 4 years (add 1 this spring.

George W Bush - 7 times in 8 Year

Clinton - 4 times in 8 years

George H.W. Bush 4 in 4 year

Reagan - 17 times in 8 years

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unitedfortruth

Jan-13-13 3:25 PM

dont get me wrong truthmonger, the republican party is just as bad my man.

i have been warning about this stuff for a long time.....annoying everybody. LOL

now these things are breaking down....we are talking minting million dollar coins, AIG wanted to sue over the bailout they got andit didnt go ver well, so they are suing bank of america instead LOL, banks are suing bigger banks, other banks are suing the govt....its starting to tilt.

so, now i come here and just laugh. LOL

wheres the crisis you ask? LOLOLOLOL

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unitedfortruth

Jan-13-13 3:21 PM

how much is that democrat in the window? woof, woof

the one with the drool on his chin?

how much is that democrat in the window? woof, woof

the middle class will pay for him!

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unitedfortruth

Jan-13-13 3:19 PM

if the banks forgive america's debt, who is going to forgive the bankers 650 trillion dollar derivative debt?

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unitedfortruth

Jan-13-13 3:17 PM

its happening right now....everyday.

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unitedfortruth

Jan-13-13 3:17 PM

"Where is the inescapable crisis I keep hearing about?"

LOL! you're living it dude! its happening everyday. they are talking about minting trillion dollar coins for goodness sakes. LOLOLOL

fact is, you are living in it s we speak. yes, its gonna get worse. however, we're in it right now. open your eyes alittle.

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truthmonger

Jan-13-13 2:58 PM

America's biggest debts have nothing to do with banks or China.

We have moral debts that we can never pay off. 50 million abortions, endless war, environmental destruction, systematic manifest destinty IMF/World Bank rigging the world economy against the weak.

If the banks were patriotic enough they could "forgive" America her debts just like that. If the Chinese knew what was good for them, they could forgive us too, just like that.

Where is the inescapable crisis I keep hearing about? Is this another manufactured crisis so they can squeeze more out of the middle class through austerity measures?

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