Krugman adds lustre to $1 trillion coin plan

An apparently light-hearted proposal to use a legal loophole to mint a $1 trillion coin is gaining increasing traction in the US as an alternative to cutting spending or raising taxes.

According to US law, the US Treasury has the right to issue platinum coins in whatever denomination it chooses. Though the country has managed for now to steer away from the edge of its ‘fiscal cliff', some economists – notably Paul Krugman – are arguing that minting a $1 trillion platinum coin and banking it

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