- Few Southeast students face suspension, expulsion for sexual assaults, campus paper finds (4/25/17)5
- Pilot House goes smoke-free (4/23/17)10
- Woman battered after smashing boyfriend's meth pipe against wall, police say (4/25/17)1
- Event includes the first public tour of 200-year-old Elmwood Manor (4/23/17)3
- BBB warns Jackson man's online business might not be legit (4/24/17)
- Cape councilman Bob Fox to run for mayor (4/21/17)5
- Cape couple turns their home into cozy, comfortable music venue (4/24/17)
- Perryville family organizing bone-marrow drive Friday for ailing 6-year-old boy (4/26/17)
- Without city record, Marie Street residents on hook for thousands in sewer repairs (4/19/17)7
- Sikeston man charged in shooting death of Cape man (4/23/17)
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.