Budget Deficits | timiacono.com - Part 4

How to Bypass the Debt Ceiling

Virtually no one is talking about the government shutdown anymore as attention turns to the much more dangerous debt ceiling and this has prompted all sorts of new ideas about how to get around it. Here’s one view of how things might play out via the Daily Ticker.

One notable improvement on the debt ceiling debate from earlier in the year is that the idea of minting a $1 trillion coin and depositing it at the Treasury Department to balance the books seems to be getting little attention, though, the extraordinarily high coupon Treasury bill idea discussed above (a.k.a. Lew Bonds) seems to be almost as wacky.

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The Blocked World Power

With just a little bit of effort, the image on the cover of today’s Handelsblatt referenced in this Der Speigel story in today’s links post was located and is reproduced below.

Handelsbatt Cover

According to Spiegel, the headline translates to “The Blocked World Power”, however Google Translate says it’s “Blocked the World Makes”, that is, unless you get the capitalization right.

Either way, it’s not good.

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Shutdown Jokes: Day 3

More government shutdown humor compiled by the folks at Bloomberg.

What? No mention of the Panda Cam shutdown. That seems to pop up everywhere else.

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President Obama is “Exasperated”

In a CNBC interview earlier today, President Obama laments the nation’s budget woes, noting “I am exasperated with the idea that unless I say to 20 million people you can’t have health insurance, these folks will not reopen the government. That is irresponsible.”

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In this accompanying story, not once is the debt ceiling mentioned.

You’d think that everyone, including the President, would be focusing in on that issue, given that the end of the world is potentially only two weeks away.

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