If you're trying to say that the Lincoln analogy is "unfounded", I'm not sure on what grounds. The USA was in deep, deep debt(it was destroyed for the most part, with many of its working men dead, in both the North and South). The Civil War was the most costly war(in terms of lives, and property) the USA has ever experienced, bar none.

Lincoln, in our time of serve debts, and need to borrow MUCH more for Reconstruction(a Huge, Costly plan to basically rebuild both the North and South, which were largely in rubble). It is similar to our situation right now, with 20 trillion dollars in debt. Lincoln decided to use the power of the US treasury to create the Greenback, backed only by the faith of the US gov't. Millions of Greenbacks were put into circulation, and the whole thing worked(and NO debt was needed to be paid by ANYBODY). Lincoln was shot, and the Greenbacks were stopped, but remained in circulation, continuing to work, without many drawbacks(besides the obvious dilution of the money supply). The end result was the USA was able to Reconstruct the Country, and Pay its debts, without needing to take out massive loans from France, or Britain(which would have made the USA subservient to one of those countries).

Similarly, right now, the US treasury has the same power that Lincoln had back then. A US president could TODAY use the power of the treasury, as Lincoln did, to create another Greenback, and pay off our debts. Our 20 trillion dollar debt could be paid in full, and we could simply phase out federal reserve notes, eventually completely replaced by the greenback, which would be regulated by the US Treasury.