I know what you're thinking: A Onepack isn't as good as a Sixpack.

Normally, I'd say you were right. But not today, my friend.

Today's "Onepack" is a special treat. But only if you like diving into the deep end.

Otherwise, just move along, there's nothing to see here...

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How Joe Biden could end the debt ceiling — all by himself

The obvious solution, proposed by Georgetown Law professor and congressional procedure expert David Super, would be for Democrats to use the budget reconciliation process to eliminate the debt ceiling with a majority vote in the Senate. That path faces myriad procedural obstacles, though, and unless Congress moves decisively toward pursuing it, the Biden administration needs to start thinking about backup options.

Some of these options might seem unacceptably extreme. But an absurd crisis calls for absurd solutions. The Biden administration should, if Republicans in the Senate continue to promise a filibuster of a debt ceiling increase, unilaterally abolish the ceiling using executive powers.

There are at least four available to Biden, each with their own advantages and disadvantages:

1. Minting super-high-value coins to fund the government

2. Invoking the 14th Amendment to nullify the debt ceiling

3. Issuing more debt as the “least illegal” option available to the Treasury

4. Creating a new class of bond to fund the government while it cannot issue Treasury bonds

Each of these actions would effectively make the debt ceiling law a dead letter. Congress (or a minority thereof) would no longer be able to threaten default as a means of extracting concessions from the president, and the single biggest source of inter-branch conflict in the federal government would cease to exist.

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That's just a small taste of the entire story. It's a really good read, so I implore you to read it ALL.

Is it wonky? Sure. But can you imagine having to transport that $2T coin from the Treasury to the Fed?

What if you LOSE it?

And if you're the guy who finds it, how do you cash it in? LOL.

Read all about it here.

Make it a great day!

Bill

🍺 PS - Buy me a beer. It's going to take a lot of carbs to carry that thing around.