Platinum coin idea has little currency at White House
An asset of that value would place the United States well within its $16.4 trillion borrowing limits, the argument goes. Pressed to rule out the idea, White House Press Secretary Jay Carney on Wednesday passed the buck. "I would refer you to Treasury for the specifics of this question," Carney told reporters. "I can tell you that the president does not believe that there is a backup plan or a Plan B or an off-ramp."
Carney would only say the president doesn't believe there are alternatives to raising the debt limit. Congress' refusal in 2011 to raise the debt ceiling unless the White House agreed to large spending cuts brought the United States close to the brink of a debt default and dealt the weak recovery a setback.
With the need to raise the debt limit again on the horizon, Obama has this time taken the position that doing so is Congress's responsibility and that because a debt default would cause widespread economic damage, he does
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