Psaki Rules Out Minting Coin to Resolve U.S. Debt-Limit Dispute
- $1 trillion coin idea has garnered attention over the years
- White House says fringe ideas aren’t viable solutions
White House Press Secretary Jen Psaki at the White House on Oct. 4.
Photographer: Chip Somodevilla/Getty Images
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White House Press Secretary Jen Psaki said the Biden administration won’t mint a new coin to resolve a standoff with Republicans over the debt ceiling, saying it’s not a “viable” option.
“We obviously look at a range of options and none of those options were viable,” she said of the proposal to mint a coin or to invoke the 14th Amendment of the Constitution. “Either because they wouldn’t be accepted by the Federal Reserve, by the guidance of our Treasury secretary, or just by legal restrictions.”