WASHINGTON (AP) — Forget about the government minting a $1 trillion coin to solve its debt-limit
crisis.TreasuryDepartment spokesman Anthony Coley said Saturday that neither hisdepartment nor the Federal
Reserve believes the law can or should beused to produce such a coin to avoid a coming battle with Congress
overgovernment borrowing.Some of President Barack Obama’s liberal allies have been promoting the coin
strategy.Thegovernment has reached its $16.4 trillion borrowing limit. By lateFebruary or early March,
Treasury will run out of ways to cover debtsand could begin defaulting on government loans.White
Housespokesman Jay Carney says Congress has two options at its disposal:either pay the tab for its spending
or send the nation into default,which would have serious economic consequences.Copyright 2013 The Associated
Press.WASHINGTON (AP) — Forget about the government minting a $1 trillion coin to solve its debt-limit
crisis.TreasuryDepartment spokesman Anthony Coley said Saturday that neither hisdepartment nor the Federal
Reserve believes the law can or should beused to produce such a coin to avoid a coming battle with Congress
overgovernment borrowing.Some of President Barack Obama’s liberal allies have been promoting the coin
strategy.Thegovernment has reached its $16.4 trillion borrowing limit. By lateFebruary or early March,
Treasury will run out of ways to cover debtsand could begin defaulting on government loans.White
Housespokesman Jay Carney says Congress has two options at its disposal:either pay the tab for its spending
or send the nation into default,which would have serious economic consequences.Copyright 2013 The Associated
Press.