#SpendingIsTheProblem: Obama Refuses To Rule Out Trillion-Dollar Coin, Will House Democrats?

January 10, 2013

It’s Time For House Democrats To Get Serious On Spending

WASHINGTON – Yesterday, five separate times, White House Press Secretary Jay Carney refused to rule out minting a trillion-dollar coin to pay down our debt. Now that President Obama won’t say no to this coin – will House Democrats?

The National Republican Congressional Committee is still waiting for House Democrats to sign our petition and tell President Obama that our country has a spending problem. The petition can be found at www.nrcc.org/spending.

“Obama and House Democrats’ addiction to spending is bankrupting our country,” said NRCC Communications Director Andrea Bozek. “Do they support minting a trillion-dollar platinum coin or will they finally tell President Obama and his liberal allies that spending is the problem?”

Politico: “White House Won’t Rule Out $1 Trillion Coin” (Jennifer Epstein, “White House Won’t Rule Out $1 Trillion Coin,” Politico, 1/9/13)

In A Meeting With Speaker John Boehner, President Obama Said Our Country Doesn’t Have A Spending Problem. “‘At one point several weeks ago,” Mr. Boehner says, “the president said to me, ‘We don’t have a spending problem.’” (Stephen Moore, The Education Of John Boehner, The Wall Street Journal, 1/6/13)

Fellow Democrat Jerrold Nadler Proposed Creating A Trillion-Dollar Coin As A Way To Pay Off Our Nation’s Debt. “Paying off the national debt could be as easy as reaching for coins in your pocket — platinum $1 trillion coins….So supporters — including Rep. Jerry Nadler (D-N.Y.) — say that President Barack Obama should order that a couple of platinum trillion-dollar coins be made and then have the coins deposited in to the Fed and, voilà, debt ceiling crisis averted.” (Kevin Cirilli, Rep. Jerry Nadler: Pay National Debt With Platinum,” Politico, 1/4/13)

Rep. Greg Walden Introduced A Bill To Banning The Creation Of Trillion-Dollar Platinum Coins. “Lawmakers are still positioning themselves for a debt ceiling fight in a few months, but one Republican congressman wants to snuff out a particular idea immediately: the U.S. Treasury minting $1 trillion platinum coins to avert a debt ceiling showdown. Rep. Greg Walden (R-Ore.) has introduced a bill to specifically ban President Barack Obama from minting the coins.” (Bobby Cervantes, “Greg Walden’s Bill Bans Minting $1T Coin,” Politico, 1/7/13)