This magical platinum coin was never proposed "to wipe the current debt", it simply could have been a vehicle to pay the bills that are coming due on the current debt that's already been incurred by congress. That's also what raising the debt ceiling does, gives the president legal authority to write cheques to cover the payments due. It doesn't wipe out any debt.
Man, there really needs to be an online class on this or something. And how awesome would it be if Jon gave an impromptu class on the show. He and his writers are really great about explaining things. Well, certain things. Seriously, they should devote a whole segment to the issue. So, now I'm still confused as what you're saying seems to be what I originally thought the coin would do, which is simply postponing paying the debt, just like what raising the debt ceiling does. It allows us to borrow money in the interim but it doesn't pay off a single real penny. Is that right?
If so, why didn't they just fight for another raise of the debt ceiling, and expose the threats made by the republicans. Maybe that's where Jon should come in. Breaking down the debt issue and giving it exposure. I still don't blame him totally for getting in a few digs at the coin though. I'm sorry but it's just seems like such a distraction. The republican threat to lock down the vault so to speak and do more damage to the country than the fiscal cliff ever could is what the democrats should be talking about, but instead they're forced to defend why the coin isn't as stupid or silly as it sounds.
I think what all of this reiterates, to my mind, is that democrats need to work on explaining
this situation to the American people. I know Jon makes fun of the conservative talking points but honestly it seems to work and I think when it comes to disseminating information to the American people there's not faster, more efficient way (sadly). They need to have mass talking points about how the republicans got us into this mes for having enormous tax cuts on the rich for years
; corporation tax cuts; tax loopholes for the rich; ridiculously pricey wars; so on. Every hour, every day, if I turn on any sort of news program with a talking democrat I should be hearing this.
TDS has had some great quotes, all of which I can't exactly
now remember of course, about how the democrats continually let the republicans steamroll them on things like this. They play their talking point game and the democrats scramble to catch up and wonder why they
come off as the bad/stupid guys. The debt is going to have to be paid off eventually. Might as well tackle that and reiterate the fact the republicans are mostly to blame. Sing it loud now rather than later.
It really is a huge issue and I'd like to see TDS tackle it in a serious manner.
Edited by happybumblebee1, Jan 17, 2013 @ 9:53 AM.