Trillion dollar coin paul krugman biography

Paul Krugman is arguing for a rather outlandish solution to solving the debt-ceiling crisis: Minting a $1 trillion coin.

The idea, which gained (ahem) currency in recent weeks, could prevent Congressional Republicans from holding the country’s financial health hostage in exchange for spending cuts, Krugman argued in a recent blog post.

“Should President Obama be willing to print a $1 trillion platinum coin if Republicans try to force America into default? Yes, absolutely,” Krugman wrote. “He will, after all, be faced with a choice between two alternatives: one that’s silly but benign, the other that’s equally silly but both vile and disastrous.”

After a tough fiscal cliff battle, Republicans have said that they plan to demand major spending cuts in exchange for raising the country’s borrowing limit, according to the Financial Times.

If Congress does nothing to deal with the debt limit, the country could lose its ability to meet its financial obligations by as early as F