Creating a New One Dollar Coin S 874 Hearing Before the Committee On Bankin
Creating a New One Dollar Coin S 874 Hearing Before the Committee On Bankin
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Not that we have had access to. If there was, I'm not aware of it. Senator Moseley-Braun. Final question. Do you have — and I don't know if this question was asked before I came in — but regard- ing seigniorage. Is it considered to be an outdated concept or a real one at this time? Mr. Stevens. I'm sure Mr. Blum will want to comment on that. I would make the point that seigniorage is real money. The 92- cent profit is money that the Government gets credited to its check- 29 ing account and can ...buy aircraft carriers or pay for foodstamps or do whatever Government does with its money. It's real money. However, it is an off-budget receipt, by long-standing budget con- vention. There would be a temptation, if it were not so, for the Gov- ernment to make major, major reductions in the national debt sim- ply by coining huge coins and calling them something, putting them out there and saying the national debt is gone. That's basi- cally the reason underlying that. We don't dispute that convention.
What to read after Creating a New One Dollar Coin S 874 Hearing Before the Committee On Bankin?
You can find similar books in the "Read Also" column, or choose other free books by Housing United States Congress Senate Committee On Bank to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Not that we have had access to. If there was, I'm not aware of it. Senator Moseley-Braun. Final question. Do you have — and I don't know if this question was asked before I came in — but regard- ing seigniorage. Is it considered to be an outdated concept or a real one at this time? Mr. Stevens. I'm sure Mr. Blum will want to comment on that. I would make the point that seigniorage is real money. The 92- cent profit is money that the Government gets credited to its check- 29 ing account and can ...buy aircraft carriers or pay for foodstamps or do whatever Government does with its money. It's real money. However, it is an off-budget receipt, by long-standing budget con- vention. There would be a temptation, if it were not so, for the Gov- ernment to make major, major reductions in the national debt sim- ply by coining huge coins and calling them something, putting them out there and saying the national debt is gone. That's basi- cally the reason underlying that. We don't dispute that convention.
What to read after Creating a New One Dollar Coin S 874 Hearing Before the Committee On Bankin?
You can find similar books in the "Read Also" column, or choose other free books by Housing United States Congress Senate Committee On Bank to read onlineMoreLess
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