Platinum Coins and the Fever Swamp

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Atrios thinks we should mint a $1 trillion platinum coin:

I remain baffled by the resistance. It’s just a gimmicky — but legal — way to get around the debt ceiling nonsense. It won’t cause inflation. It doesn’t allow B. Barry Bamz to buy a trillion dollars worth of bling. And it can be undone the instant new bonds can be sold.

I remain baffled by the bafflement. No, it won’t cause inflation, it won’t allow Obama to buy anything he wants, and it can be undone as soon as new debt is authorized. So what? Like it or not, the debt ceiling is legal. Congress has the power of the purse. On the other hand, using a ridiculous loophole in a statute about commemorative and bullion coins in order to evade the debt limit isn’t legal. Seriously, folks: just forget it. I know I’ll never have to pay up on a bet over this since it will never be tested, but this would go against Obama 9-0 if it ever made it to the Supreme Court.

It’s time to get a grip and leave the fever swamp thinking to the tea party. This whole thing is embarrassing. It will never happen; it’s an exercise in executive overreach that liberals are supposedly opposed to; and it would never make it past a judge. If you really want to stop debt ceiling hostage taking in the future, the way to do it is to make Republicans pay a political price for it. That will stop them. The platinum coin is just a distraction from doing the real work of making Republicans pay for their recklessness.

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WE'LL BE BLUNT.

We have a considerable $390,000 gap in our online fundraising budget that we have to close by June 30. There is no wiggle room, we've already cut everything we can, and we urgently need more readers to pitch in—especially from this specific blurb you're reading right now.

We'll also be quite transparent and level-headed with you about this.

In "News Never Pays," our fearless CEO, Monika Bauerlein, connects the dots on several concerning media trends that, taken together, expose the fallacy behind the tragic state of journalism right now: That the marketplace will take care of providing the free and independent press citizens in a democracy need, and the Next New Thing to invest millions in will fix the problem. Bottom line: Journalism that serves the people needs the support of the people. That's the Next New Thing.

And it's what MoJo and our community of readers have been doing for 47 years now.

But staying afloat is harder than ever.

In "This Is Not a Crisis. It's The New Normal," we explain, as matter-of-factly as we can, what exactly our finances look like, why this moment is particularly urgent, and how we can best communicate that without screaming OMG PLEASE HELP over and over. We also touch on our history and how our nonprofit model makes Mother Jones different than most of the news out there: Letting us go deep, focus on underreported beats, and bring unique perspectives to the day's news.

You're here for reporting like that, not fundraising, but one cannot exist without the other, and it's vitally important that we hit our intimidating $390,000 number in online donations by June 30.

And we hope you might consider pitching in before moving on to whatever it is you're about to do next. It's going to be a nail-biter, and we really need to see donations from this specific ask coming in strong if we're going to get there.

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