I’m a big fan of The Coin for comedy, but as I’ve written before it’s unfortunately of debatable legality. From the founding of the USA congress has authorized debt incurred by the nation. You can’t just unilaterally change this. Specifically The Coin could very likely be deemed unconstitutional under Article 1 Section 8. And then what?
Yeah that’s the question which is being debated. I’m no scholar, I really have no idea. But I have to call it out when the media make it out to be a simple fix for treasury to go with the coin or premium bonds.
I’m a big fan of The Coin for comedy, but as I’ve written before it’s unfortunately of debatable legality. From the founding of the USA congress has authorized debt incurred by the nation. You can’t just unilaterally change this. Specifically The Coin could very likely be deemed unconstitutional under Article 1 Section 8. And then what?
Is it not plausible that the 14th amendment would allow for this, though?
Yeah that’s the question which is being debated. I’m no scholar, I really have no idea. But I have to call it out when the media make it out to be a simple fix for treasury to go with the coin or premium bonds.