Latest debt ceiling fix-it: IOUs
January 10th, 2013
04:43 PM ET
2 years ago

Latest debt ceiling fix-it: IOUs

New York (CNNMoney) - The list of sorry ways to address the unthinkable is growing. Call the latest debt ceiling work-around the IOU Plan.

Edward Kleinbard, a tax and legal scholar, has offered up a contingency plan he thinks President Obama could adopt without causing a constitutional crisis if Congress pushes the country to the brink of default: Issue IOUs that can be sold and traded in private markets.

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Filed under: Debt
soundoff (2 Responses)
  1. Bobo

    Killing kids and safeguarding animals? All for gunrights, only in America. NRA madness, Wake up!

    January 10, 2013 06:21 pm at 6:21 pm |
  2. Ari for Peace

    Suicide Prevention, and Look!
    So easy, a Cave Man can do it!

    [Read the Facts and Answer the Question.]
    Fact 1: Group A is one side the country
    Fact 2: Group B is the other side of the country
    Fact 3: Group A decides to take all the money
    Fact 4: Group B has no more money

    Group B has no more money to buy Group A's products and services,

    What happens to Group A?
    A. Group A will make more money because it really grows on trees
    B. Group A will make more money if Group A splits in two
    C. Group B has no more money to buy Group A's products and services causing sudden economic crash, economic suicide.
    D. Group A gives Group B some money so Group B can give it right back.

    What's your answer?

    - Sons of Light (Positive Life with Truth, Science, Math, and Reason)

    January 10, 2013 10:24 pm at 10:24 pm |