“To coin money and regulate the value thereof” is a reserved power of Congress. Simple legislation cannot transfer this authority to the Treasury Department.
If the Congress were to authorize the minting of trillion dollar coins made of platinum (or in fact of anything), the antional debt could legally be paid off that way. There is no requirement in the Constitution that Congress establish a specific dollar - metal parity, and in fact minor changes in coinage weights in the 19th century, although perfectly constitutional, caused major political headaches.
Of course, with a platinum market price of around $1500, this would be exactly the same as outright repudiation, and the consequences would be the same.
Good point. Which is why i always correct anyone who says “our children/grandchildren are being saddled with debt”. At some point they can issue all the currency they want or just give all the Social Security geezers one of these special coins and call it even.
Better give China some of those before their military gets any stronger.