Washington, Jan. 10 (ANI): White House Press Secretary Jay Carney has flatly ruled out any negotiations with Congress over raising the debt ceiling, but one odd solution he did not rule out was minting trillion dollars coins to pay off the debt.
Carney told reporters at the daily White House briefing that there is no Plan B. There is no backup plan. There is Congress's responsibility to pay the bills of the United States.
According to ABC News, asked if the administration would rule out minting trillion dollars coins if Congress fails to act, Carney deflected saying "you could speculate about a lot of things."
Later on in his briefing, Carney was again pushed to rule out the option of minting the coin.
He referred the question to the Treasury Department and again repeated that the president does not see a back-up plan for raising the debt ceiling.
According to the report, asked if anyone in the administration is trying to figure out whether using the coin is a viable option, Carney responded 'Not that I know of.
Some have suggested President Barack Obama could invoke the 14th Amendment to the Constitution, which states, "the validity of the public debt of the United States ... shall not be questioned", and ignore the debt ceiling altogether, the report added. (ANI)