Federal Cost Reductions

[W. Gray]

Obama wants to decrease the cost of making some coins; no real word about decreasing the debt.

Any cost savings in coin production is a rain drop in comparison to decreasing the national debt.

According to Yahoo, it costs 2.4 cents to make one penny, that is 140% over its face value. Obama wants to get the manufacturing and administrative cost to less than a penny.

It costs 11.2 cents to make one nickel, that is 124% over its face value. Obama wants to get the manufacturing and administrative cost to less than a nickel.

I think they need to get rid of the penny--its time has passed.

Nickel is made of nickel and copper. Perhaps steel would be better.

[jarhead]

Waldo,
Maybe Obummer will see if China can make our pennies any cheaper than we can. They seem to have succeeded in making our dollar "cheaper".