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"Trillion-Dollar Coin" & Economic Implications of Ongoing Debt Ceiling Debate – UMass Amherst Economist Michael Ash

Released: 1/10/2013 1:45 PM EST
Source Newsroom: University of Massachusetts Amherst
Contact Information

Available for logged-in reporters only

Expert: Michael Ash, economics professor and department chair at the University of Massachusetts Amherst

Topic: The economics, reasoning and feasibility of a “trillion-dollar coin” in response to debt ceiling negotiations & the economic implications of the ongoing debt ceiling debate

Available: Via phone or email at your convenience; also available via satellite for TV segments from on-campus studio in Amherst, Mass.

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Michael Ash, professor of economics and department chair at the University of Massachusetts Amherst, is available to discuss the “trillion-dollar coin” idea, which has gained popularity as a political end-around to the looming debt ceiling negotiations, and (unlike the 14th Amendment) has not yet been entirely ruled out as an option by the White House.

Michael can explain:

-- The logic behind the idea of the Treasury Department minting a trillion-dollar platinum coin as a short-term debt ceiling fix
-- The coin’s legality and feasibility
-- The potential macroeconomic impact of such a move, and why the $1,000,000,000,000 coin idea is “ridiculous, but not more ridiculous” than the “absurdity of the Catch 22 that Congress has imposed.”

He can also comment on all other economic implications of the ongoing debt ceiling debate and negotiations.

A recent profile of Michael can be found here.

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