Gunreference1
02-15-2012, 02:21 PM
Obama Wants to Make Cheaper Pennies and Nickels
By Josh Sanburn (http://moneyland.time.com/author/jsanburn/) | @joshsanburn (http://www.twitter.com/joshsanburn) | February 15, 2012
The White House wants nickels and pennies to be cheaper to manufacture.It’s one of the more inconvenient truths about U.S. currency: It costs more than a penny to make a penny, and more than a nickel to make a nickel. Now, President Obama is trying to get Congress to grant him permission to lower the cost of minting coins. But making a more inexpensive penny won’t be easy.
We’re assuming you didn’t get around to carefully reading through the White House’s $3.8 trillion, 2,000-page budget that was sent to Congress this week. Frankly, neither did we. But there was one request discovered deep inside the Obama budget: a proposal to make pennies and nickels cheaper to produce (http://www.washingtonpost.com/blogs/ezra-klein/post/five-things-you-missed-in-obamas-budget/2012/02/13/gIQAJ5ELBR_blog.html).
To read the rest of the story click the link below.
http://moneyland.time.com/2012/02/15/obama-wants-to-make-cheaper-pennies-and-nickels/
Steve
By Josh Sanburn (http://moneyland.time.com/author/jsanburn/) | @joshsanburn (http://www.twitter.com/joshsanburn) | February 15, 2012
The White House wants nickels and pennies to be cheaper to manufacture.It’s one of the more inconvenient truths about U.S. currency: It costs more than a penny to make a penny, and more than a nickel to make a nickel. Now, President Obama is trying to get Congress to grant him permission to lower the cost of minting coins. But making a more inexpensive penny won’t be easy.
We’re assuming you didn’t get around to carefully reading through the White House’s $3.8 trillion, 2,000-page budget that was sent to Congress this week. Frankly, neither did we. But there was one request discovered deep inside the Obama budget: a proposal to make pennies and nickels cheaper to produce (http://www.washingtonpost.com/blogs/ezra-klein/post/five-things-you-missed-in-obamas-budget/2012/02/13/gIQAJ5ELBR_blog.html).
To read the rest of the story click the link below.
http://moneyland.time.com/2012/02/15/obama-wants-to-make-cheaper-pennies-and-nickels/
Steve