- Krispy Kreme coming to Cape Girardeau (12/14/17)2
- Light and music show: Jackson family goes high-tech with Christmas display (12/11/17)
- Two Cape County residents, including former Jackson police officer, face burglary charges in Colorado (12/12/17)
- Cape schools to get two new principals, assistant superintendent (12/13/17)1
- Kelso resident brings home $60K in lottery winnings (12/14/17)
- Three-vehicle wreck ends up with parked car crashing through business wall (12/16/17)3
- Insurance building's renovation part of Coalter family's commitment to region (12/15/17)3
- New regents president named after Knudtson decides not to seek second term (12/18/17)
- Southeast rings bell for 807 December graduates (12/18/17)
White House nixes idea for trillion-dollar coin
WASHINGTON -- The White House has ruled out minting a coin worth $1 trillion to pay the government's bills and avoid a nasty battle with Congress over the debt ceiling.
Some of President Barack Obama's liberal allies have been promoting the coin strategy.
White House spokesman Jay Carney nixed that option Saturday. Carney said there are two options: Congress either can pay the tab for spending it has racked up or it can send the nation into default, which would have serious economic consequences.
The government has reached its $16.4 trillion borrowing limit. By late February or early March, the Treasury Department will run out of ways to cover debts and could begin defaulting on government loans.