At some point everyone has heard an idea being discussed in Washington, D.C. and thought or said, “That’s insane.” Americans generally recognize there is, more often than not, something not quite right about inside-the-Beltway thinking. But to those who have never lived or worked in the D.C. area, let me tell you: You don’t know the half of it.
Think of your craziest uncle, the one who when you visit for Thanksgiving has some pet theory about how to fix the economy. Now imagine that intelligent, highly educated people heard your crazy uncle’s idea and took it seriously. Now also try to imagine that the idea was taken seriously enough that it was being discussed in the business section of a major newspaper’s website. That is the culture that is D.C.
For example, today the Washington Post’s Wonkblog has a story about the “platinum coin option”, a method for President Obama to get around the debt ceiling:
Read more on How (Not) to Solve the Debt Crisis with Two Trillion Dollar Platinum Coins…