Posted on 03/23/2012 12:47:05 PM PDT by Ron C.
Capitol Hill lawmakers want to change the color of money amid growing concerns about the federal deficit and the constant pressure for Washington to live within its means.
The House and Senate each have introduced legislation that would replace the dollar bill with a $1 coin.
“Change can be difficult,” Sen. Mike Enzi, R-Wyo., said. “But doing things as we’ve always done has contributed to our debt. We've got to latch on to any reasonable handhold we can find to climb out of this hole.”
This is not the first time Washington has considered eliminating the paper dollar, which became part of the U.S. currency during the Lincoln administration in the early 1860s.
The Government Accountability Office has examined the issue five times over the past two decades as a way to help reduce government spending, each time concluding the switch would save from roughly $200 million to $500 million, said Enzi.
(Excerpt) Read more at foxnews.com ...
LOL - now THAT is the best laugher on the thread so far!
They want us to get used to a devalued dollar by making it pocket change.
“The People” reject the dollar coin or the merchants reject it?
Interesting choice of coins to eliminate. The last time the U.S. removed the lowest value coin was in 1857 when the half cent was eliminated. That coin would be worth 11¢ now, so the lowest coin remaining had a current value of 22¢.
What we need to do is eliminate CONGRESS! Start all over again with part-time government that meets for a minimum of three months per year, and make them live in the district they supposedly represent the remaining 9 months a year!
The difference is that this time they would STOP printing paper dollars and continue to remove them from circulation as they wear, as they do now. They have warehouses full of the Presidential dollars to start and may even have warehouses of Susan B. Anthony dollars and Sacajaweau? dollars. Unless they are complete idiots and try again to get us to use dollar coins without stopping the paper dollar. I think we’re on the verge of an inflationary trend that will cause us to not need pennies, nickles or dimes, just quarter and dollar coins and 5 dollar bills.
The difference is that this time they would STOP printing paper dollars and continue to remove them from circulation as they wear, as they do now. They have warehouses full of the Presidential dollars to start and may even have warehouses of Susan B. Anthony dollars and Sacajaweau? dollars. Unless they are complete idiots and try again to get us to use dollar coins without stopping the paper dollar. I think we’re on the verge of an inflationary trend that will cause us to not need pennies, nickles or dimes, just quarter and dollar coins and 5 dollar bills.
I would argue that the majority of people will not even stop to pick a penny up off the ground. It’s not worth the effort or time.
Damn...just damn
You want change, you patronizing, contemptuous RINO jerk? STOP SPENDING MONEY.
(sigh) Yep, the day we're pushing around wheelbarrows with stacks of our money just to buy a loaf of bread can't be that far away.
You're aware, I hope, that the nickel is actually made of a mostly-copper alloy known as cupronickel, and accordingly, each coin is worth well more than $.05 for its copper content.
Accordingly, there's a plan to replace the current issue to rrecover their copper content, and circulate a stainless steel "nickel" worth far less than a penny instead.
So some folks are hanging on to the real thing while they're still available.
Funny you should say that - I pick them up, lots of them, at the market - along with dimes and nickles that people literally toss on the floor after taking them out of the change hopper.
In a typical week I pocket a several dollars that I only have to pick up off the floor, the sidewalk and the parking lots.
I always pick up pennys.
Last week I picked up a dollar
The fallacy is that money is now electronic zaps. Everyone should be have a card. A debit card from bank or a credit card or a Walmart card or one of those welfare cards.
Deposits are made to the card. Then there is very little need for money
I rely on cards entirely and about the only money I spend is paying for my haircut.
Now, China's money is the most sought after.
BTW - thanks much for the link!
What we WANT doesn't matter.
They know what we NEED. That's why we elected them.
/sarc
Just what gov really wants - and a precursor to embedded chips installed on the back of your hand.
Who cares? A $1 coin is just as worthless as a $1 bill.
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