January 10th, 2013
04:43 PM ET
10 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.
FULL STORY
Killing kids and safeguarding animals? All for gunrights, only in America. NRA madness, Wake up!
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)