Transcript: How A Trillion Dollar Coin Could End The Debt Ceiling Crisis For Good

With the debt ceiling deadline fast approaching, there’s still no consensus on how it will be raised in order to prevent an unthinkable default on US Treasuries. For over a decade, people heave been discussing the idea that if the ceiling isn't raised, the Treasury has in its authority to mint a trillion dollar coin to allow payments to continue. It sounds weird on its face, but a number of serious thinkers have argued that it’s both legally and economically on strong footing. On this episode, we speak with law professor Rohan Grey, who has written the definitive case for the coin’s legality. Transcripts have been lightly edited.