If it’s such a great idea why don’t they just do it
regardless of whether the congress raises the debt ceiling?
What the hell, at a stroke the government is a trillion
dollars richer.
So why not?
Because it’s a fantastically stupid idea and we’d better
hope the White House isn’t as crazy as the Republicans are or the Democrats are
(one hopes) pretending to be.
Effectively dumping a trillion dollars on the money supply
in a single shot in order to pay your debts is not far from what the Germans
did to pay off the allies after WW1.
Totally wiped out everybody’s savings and drove up prices by
orders of magnitude until cash and monetary holdings became virtually
worthless.
People on fixed incomes had, effectively, no incomes and
were forced to sell off assets.
Kiss your retirement nest-egg and the house you spent a
lifetime paying for good-bye.
Or maybe not.
Or maybe not.
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