Token of all tokens: Could a $1T coin fix the debt limit?

WASHINGTON — Some politicians think they've found a silver bullet for the impasse over the debt limit, except the bullet is made of platinum: Mint a $1 trillion coin, token of all tokens, and use it to flood the treasury with cash and drive Republicans crazy.

The intent was to help with the production of commemorative coins for collectors, not to create a nuclear option in a fiscal crisis. Oops. “The only thing kookier would be a politically inflicted default," Sen. Mark Warner, D-Va, said of the coin. The United States will hit the ceiling Oct. 18 unless Congress acts in time to suspend it. The two parties are in a stalemate in the Senate — Republicans unwilling to join Democrats in what used to be a routine exercise; Democrats holding back on using only their own votes to fix the problem.

Other extraordinary possibilities have been floated, too, such as invoking the 14th Amendment's guarantee that the “validity of the public debt of the United States, authorized by law ... shall not be questioned," which some scholars argue could be used to override the debt limit. Raising or suspending the ceiling has been a mostly uncontroversial task until recent times, because the debt comes mostly from spending that has already been approved by Congress or covers payments mandated by law. Now everything is fodder for a fight to the last minute.

i'm opposed to~the coin~ because I support the collapse of the US government, but it's worth observing that pretending it's necessary to mint a coin in order to offset government spending is no more or less a gimmick than pretending it's necessary to issue treasury bonds to do so

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