Matthew Yglesias

@mattyglesias ↗

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Last Checked Jan. 15, 2023

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Wed Jan 11 11:46:51 +0000 2023

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Matthew Yglesias @mattyglesias

Here’s how it works: The debt ceiling (which is unconstitutional and superseded by appropriations bills anyway) purports to limit the *face value* of federal debt not the interest, which means Treasury can simply shrink the face value on new issuances. https://t.co/COhytbUf63 — PolitiTweet.org

Posted Jan. 11, 2023

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Matthew Yglesias @mattyglesias

New debt ceiling workaround just dropped — an idea for folks who find the platinum coin too silly. https://t.co/COhytbTHgv — PolitiTweet.org

Posted Jan. 11, 2023

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Matthew Yglesias @mattyglesias

Instead of saying “give us $100 for this $100 bond and we’ll pay you a modest interest rate?” go to auction and say “here’s a $10 bond with a very high interest rate, how much will you pay us for it?” Investors would pay more than $10 for that bond. https://t.co/COhytbUf63 — PolitiTweet.org

Posted Jan. 11, 2023