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Conversation, they are not going to do that. we won t default. but it is point of leverage and actually they are talking about exactly that. there s three branches of government. this is an appropriate conversation whether we like it or not. there are duly elected members of congress that have the right and constitutional right here and they should be heard in how they work through this is part of the process. the rubber hits the road at some point and you get to the point where you could have a situation where congress doesn t approve it at which point the executive branch has to do something save the country. that s the idea behind the leverage part of this conversation. to get to the substance of the trillion dollar coin idea. the republicans don t take us over and there are some deal cut or we swerve out of the way at the last moment. then we this crazy mint the coin idea that s been planted in the minds of american policymakers so we say forget about the debt ceiling, why do ....
This is an appropriate conversation whether we like oirt not and how it looks around the world is not. i mean this is there are duly elected members of congress that have the right and constitutional right here and they should be heard and how they work through this is part of the process. the rubber hits the road smat point. you get to the point where you could have a situation where congress doesn t approve it at which point the executive branch has to do something to save the country. that s the idea behind this leverage point. now to get to the trillion dollar coin idea which is to say okay the republicans don t take us over and there is some deal cut or we swerve out of the way at the last moment. but then we had this crazy mint the coin idea that is planted in the minds of american policymakers. we say forget about the debt ceiling. why don t we just mint some coins? like i was saying before i went to break, if we can mint a trillion dollar coin, let s mint a $10 trillion c ....
Ceiling fake crisis habit and the president says he ll break it. and he s backed up by the treasury secretary and the leader of the democrats in the house. do you agree with alan greenspan, that we ought to just eliminate the debt ceiling? oh, absolutely. you do? will you propose that? well, you know, this is something that only congress can solve. congress put it on itself. we ve had 100 years of experience with it. and i think only once, last summer, did people decide to use it to threaten default on the american credit for the first time in history as a tool for political advantage and that s not a tenable strategy. is now the time to eliminate it? it would have been time a long time ago to eliminate it, the sooner the better. i don t think the debt ceiling has a place in all of this. i think that we continue the mcconnell rule, which says the president sends it over.ç if two-thirds of the congress objects, than that is overturned. okay. so the mcconnell rule isn t ....
If two-thirds of the congress objects, than that is overturned. okay. so the mcconnell rule isn t exactly the super awesome trillion-dollar coin idea that i kind of love, but it s not half bad. the president has the power to raise the debt ceiling in order to pay for the things that congress has already agreed to pay for, and if congress wants to stop it, they need a two-thirds majority to do it. i am generally pretty wary of increases in congressional authority and decreases in overnight, but in the case of the debt ceiling, there s just no argument for it. the money has already been spent. congress has already spent it. it s just a matter of whether or not you pay the bills. and if all else fails, president obama and tim geithner should start deciding whose that is they want to put on the new $1 trillion coin. i vote for john boehner. a shee, but i don t just put em in the dryer to freshen up my clothes. i put em in my shoes, i put em in my car, i put em in my vases. girl, i been p ....