The Trillion Dollar Coin [Link]

January 09, 2013 by Gabe | [mmd] | ℳ↫

The former Treasury director lays out the legal authority and implications of the Treasury Secretary to strike a trillion dollar coin:

The Secretary’s authority is derived from an Act of Congress (in fact, a GOP Congress) under power expressly granted to Congress in the Constitution (Article 1, Section 8). What is unusual in this case is that the law gives the Secretary discretion regarding all specifications of the coin, including denominations.

By way of Collin Donnell