A cracker jack prizey winner? One can only surmise that it would be a certain socialist economic religion snake oil peddler.Such an absurd idea is, pun intended, gaining currency as a technically legal way for Washington to avert a looming fight over the debt ceiling. A Democratic congressman, a Nobel-winning economist and several prominent writers are now floating the idea that the Treasury Department should use obscure powers to mint a $1 trillion coin if Congress does not permit an increase in the debt ceiling.
The snake oil salesman in chief being the peddler of the Zimbabwean solution? Shocking! The 'oh noes!!! Bearded toad under attack! Must defend! Must defend!' is sure to follow from the prostrate grovelers of the followers of said religion.Economist Paul Krugman called it a "gimmick," but wrote that "since the debt ceiling itself is crazy ... there's a pretty good case for using whatever gimmicks come to hand."
Why stop at $1 trillion? Why not go full tilt Keynesian Zimbabwean and create a $100 trillion equivalent coin?