Left Swoons for Loony ‘Magic Coin’ Plan

... Ralph Benko, editor of the Lehrman Institute's monetary policy website, recently attacked the platinum coin proposal, noting its violation of a monetary principle first established by the famed astronomer Copernicus. He also pointed to the hyper-inflation experienced recently in Zimbabwe, when its government violated the same principle.

In spite of left-wing opposition to spending cuts, there is a huge spending problem in the U.S. The editorial board of Investor’s Business Daily reminded readers of that very fact on Jan. 7, writing that Obama’s debt commission “made clear that spending is the driving force behind the nation’s debt crisis.” The final report of the commission said, “We should cut all excess spending -- including defense, domestic programs, entitlement spending, and spending in the tax code.”

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