Saturday, January 12, 2013

The Treasury's Dilemma

The constitution vests in Congress power
To tax and spend as well as issue debt.
Strong limits on the Treasury are set
Which now are binding. Rapidly the hour
Approaches when all three constraints will leave
No easy way for Geithner to comply.
Will Congress let the debt ceiling defy
Its spending orders, or grant a reprieve?
If Congress does not act, will Treasury
Allow the country's bills to go unpaid?
Will fire sales raise the funds Congress enjoins
The Treasury to spend, or will we see
Appropriated monies be delayed?
Will Geithner mint some trillion dollar coins?????

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