Gold and the Federal Debt
The U.S. hit its debt limit Monday. As debate continues over whether or not to raise that limit, a variety of proposals and trade-offs are on the table. A small group of economists have suggested selling off U.S. gold assets as one way to lower the debt. Gold prices are at near record highs—around $1500 an ounce. For the U.S., that could mean billions of dollars in bullion. Most economists and lawmakers don’t expect the idea to go forward. But the prospect of making money by selling gold intrigues people. Even those with a small amount of gold jewelry or coins. The rising price of gold and how it could impact the budget debate.
Edwin "Ted" Truman