Lawmakers Call On Treasury To Mint Trillion-Dollar Coins For Stimulus

The video discusses a proposal by Congress members Rashida Tlaib and Pramila Jayapal to mint $2 trillion coins to provide economic relief during the COVID-19 pandemic without increasing the deficit. This proposal, based on the mint coin theory, involves the Treasury creating trillion-dollar coins to be deposited at the Federal Reserve, which would then credit the Treasury's account. While proponents argue it's legal, critics question its practicality and view it as exploiting a loophole. The idea, previously rejected in 2013, faces uncertain support in the current political climate.

What is the main goal of the proposal by Congress members Rashida Tlaib and Pramila Jayapal?

• To provide financial aid without increasing the deficit

• To cut government spending

• To reduce the national debt

• To increase taxes on the wealthy

How does the mint coin theory propose to generate funds for economic relief?

• By borrowing from international banks

• By increasing taxes

• By printing more paper money

• By minting trillion-dollar coins

What role does the Federal Reserve play in the mint coin theory?

• It creates the trillion-dollar coins

• It recognizes the coins as legal tender and adds funds to the Treasury's account

• It distributes the coins to the public

• It sets the value of the coins

What is one of the main criticisms of the mint coin theory?

• It relies on a legal loophole

• It is too expensive to implement

• It requires international approval

• It would take too long to execute

How do proponents of the mint coin theory compare it to past economic measures?

• They say it is more effective than past measures

• They believe it is less controversial

• They think it is a temporary solution

• They compare it to initial reactions to Social Security and universal healthcare