Advocates say such a coin would be one option to bypass the debt ceiling, but others believe the measure would not be legally sound
is a cap on the amount of money the federal government can borrow to pay for spending already allocated by Congress. In other words, Congress has already directed Biden to spend the money, but has not allowed him access to all the money he needs to carry out the spending.to give in unless Democrats agree to spending cuts.
Advocates for the strategy say the legality of the coin lies in a law passed in the 90s that allows the US Mint to mint platinum coins of any denomination.and cha-ching, the government would have more money to pay off its debt. When the debt ceiling is raised, the coin would go back to the Mint to be melted.
The trillion-dollar coin encapsulates this idea. It would be a very clear display of how the US government can make its own money, by actually minting it.Rohan Grey, Willamette University law professor