Best solution I have seen so far to avoid default if the debt ceiling is not raised.

[A HERETIC I AM]

7. Read the OP again.

The scrip would not violate the debt ceiling because it wouldn’t constitute a new borrowing of money backed by the credit of the United States. It would merely be a formal acknowledgment of a pre-existing monetary claim against the United States that the Treasury was not currently able to pay. -

- To avoid any confusion with actual Treasury debt, and to be consistent with the law governing claims against the United States more generally, the scrip would not pay interest in most cases. And unlike debt, it would have no fixed maturity date but rather would become redeemable in cash only when the secretary of the Treasury was able to certify that there’s enough money available in the Treasury’s general fund to cover it.

They way the article is written, there would be a possibility for some gain on the part of the buyer because they would be "allowing financial institutions to buy it at a high percentage of its face value" meaning at a discount to par.

Not bonds that go through the normal auction process.

More like Federal IOU's.