Pulling at Bootstraps

It’s been proposed that the U.S. should just mint some trillion dollar coins out of platinum and pay off the debt with them. Think the Chinese would accept that as full payment? Here’s the facts, and a chart that explains how this would work:


2 thoughts on “Pulling at Bootstraps

  1. What however is “not on” is when this kind of altruism-out-of-compulsion is presented as an act of patriotism, as if one had any choice to do otherwise. If there is someone out there who is paying more tax than he is legally obliged to pay then yes, that person is definitely “patriotic”. But can we agree that if such people do exist in this world, they are the exceptions rather than the rule? And that there is nothing that prevents a NRI, if he be so inclined, from sending an envelope stuffed with cash to the Indian exchequer.

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