AP’s Today in History for January 15th
Civil Rights leader Martin Luther King Jr. is born; Richard Nixon suspends U.S. offensive in Vietnam; Queen Elizabeth the First crowned; Work completed on Pentagon; first Super Bowl takes place.
Breakfast Tune Faith Nolan @ Occupy Toronto Oct 25 2011
Something to think about, Breakfast News & Blogs below
- Workers Lose Ground to Inflation Despite Big Wage Gains
- EVs are getting too heavy and too powerful, safety chief says
JONATHAN M. GITLIN
Something to think about over coffee prozac
This Is How the Trillion Dollar Coin Could End Debt Ceiling Fights for Good
Odd Lots, Bloomberg
Every few years, people are reminded of the weird law the United States has: the debt ceiling. Congress has to vote affirmatively to raise the total outstanding legal stock of debt the country can take on. If Congress fails to vote in favor of it, you could see a theoretical debt default, with devastating consequences. Sometimes the vote is routine and easy. Sometimes it’s contentious, as it was in 2011. But arguably there’s an easy solution that could avoid these fights altogether: A provision in the law which gives the Treasury Secretary the unilateral right to create platinum coins of any denomination. While this sounds like a joke, there’s a serious argument that it offers a robust legal path out of the problem. On this episode we speak with Rohan Grey, a professor at Willamette University College of Law and one of the foremost experts on the legality of the coin maneuver, on how it works in practice and in theory.