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President Barack Obama finally broke his silence on an issue of national importance Friday – he thinks it’s time to retire the penny.
The possible extinction of the one-cent coin was a featured economic question in a Google+ Hangout with the Commander in Chief last week as John Green, the co-creator of a popular YouTube channel, applied a little presidential peer pressure.
“Australia, Canada, New Zealand, many other countries have gotten rid of their pennies,” Green said. “Why haven’t we done it?”
“I gotta tell you, John, I don’t know,” Obama responded, adding, “Anytime we’re spending money on something people don’t actually use, that’s an example of things we should probably change.”
RELATED: Conservative thinkers: GOP should cut 'stale' policies loose
But why should anyone care? They’re pennies. Aren’t there more valuable things to worry about?
First, pennies actually cost more to make than they’re worth. In 2012, every penny cost 2.41 cents to make – more than twice their face value.
And as zinc and copper – materials used in minting the penny – have become costlier due, in part, to manufacturing shifts in China, which are likely to raise costs further.
Granted, the total cost of minting pennies was only $58 million last year – less than one-tenth of a percent of total federal spending in 2012 – but groups like Citizens to Retire the U.S. Penny have long been making the economic case for getting rid of the penny (plus, the group adds, fishing for pennies adds about 2 seconds to each cash transaction per day).
And the U.S. military has already decided they’re essentially useless; all Army and Air Force Exchange Service stores on bases round all cash purchases up or down to the nearest nickel.
With both parties looking for ways to cut government spending, it seems as though cutting penny production could be a relatively painless, if insignificant, place to start. But in the Google+ Hangout, Obama ceded that Washington has bigger fiscal fish to fry.
“The penny is an example of something that I need legislation for,” he said. “And, frankly, given all of the big issues that we have to deal with day-in/day-out, a lot of times it just doesn't -- you know, we're not able to get to it.”
There have actually been efforts to pass penny-banning legislation. Back in 2001, then-Rep. Jim Kolbe (R-AZ) introduced the “Legal Tender Modernization Act,” which would have made pennies obsolete by requiring retailers to round up or down to the nearest nickel on cash purchases.
That bill failed, and Kolbe’s second attempt in 2006, the “Currency Overhaul for an Industrious Nation (COIN) Act,” after zinc costs nearly doubled, met a similar fate.
But the president doesn’t need Congress to explore other, cheaper alternatives to zinc – the main metal in pennies. In fact, the administration’s 2013 budget encourages the Treasury to “explore, analyze, and approve new, less-expensive metals for all circulating coins like aluminum, iron and lead.”
It wouldn’t be the first time Abe Lincoln’s coin got a makeover. Back in 1982, the penny changed from 95 percent copper and 5 percent zinc to 97.5 percent zinc and 2.5 percent copper.
(And lest so-called “penny hoarders” try to melt that valuable pre-1982 copper down, the Mint in 2006 prohibited the melting of pennies and nickels. It also made it a crime to carry more than $5 in one and five-cent coins out of the country).
Changes to the composition of pennies do have Congressional champions: Ohio Rep. Steve Stivers (R) introduced the “Cents and Sensibility Act” in December 2011, which would mandate that pennies were out of American steel (much of which comes from the Buckeye State) and dipped in copper.
But these efforts will be met with some serious resistance from the zinc lobby (yes, there is one). The company Jarden Zinc, which creates “metal and zinc coinage,” according to its website, paid lobbyist Mark Weller $340,000 in 2012 to discuss issues related to “minting/money/gold standard” with members of Congress and the Mint, according to the Center for Responsive Politics.
Weller also represents the pro-penny group Americans for Common Cents, whose website warns of the risk of inflation that eliminating the penny would bring, and whose headquarters are on K Street, known for its many D.C. lobbyist offices.
“Americans for Common Cents aims to inform and educate policymakers, consumers, and the media about the penny’s economic, cultural, and historical significance,” the group’s website reads.
The political power of the penny is likely another reason Obama hasn’t acted on getting rid of it. As far back as 2008, when he was still a candidate, the “penny lobby” appeared to mystify Obama.
Asked about it at a town hall in Pennsylvania, he said, “We have been trying to eliminate the penny for quite some time -- it always comes back,” joking, “I need to find out who is lobbying to keep the penny.”
This story was originally published on Tue Feb 19, 2013 2:51 PM EST
Leave a Comment:
Just wait till Obama's third term, when we really start getting things done!
Oh well if you can't get any of your campaign promise done might as well get rid of the penny. Way to go concentrating on the one tenth of a percent of Federal spending. Keep up the good work Mr. President we're all counting on you.
It's so funny you blame President Obama for something that is Congress' job to do. My God, they talk enough about spending cuts, you'd think they could do one little thing to save taxpayers money!
we could really use all that zinc to make more bullets.... sheesh!!
Of course not Amy...why take the time to hold 535 members of Congress truly accountable to the job they are supposed to do when you can just sit back and lob turds at 1 guy in the White House?
Amy if by Congress you mean the US Senate then I'll give you that one. You want to make a difference then pass some of the legislation coming from the HOR and quit being the Party of NO.
If I had a penny for every fawning fact-free post by Amy defending President Obama...
The question is , is she paid a lot of pennies to spam such comments ?
undying love to the Emperor is priceless
bubblegum error
I wouldn't give you a penny for your thoughts, GOP Comeback 2014 because they really aren't worth that much. LOL.
The President is following up on a genuine question he was asked on-line.
He listens to us and acts on lots of issues every day - present and long-term.
Whereas, GOP serially wastes time & money piddling about with "he said, she said".
GOP/Caesar, I really don't think money can by that kind of love....it's rather pathetic when you think about it.
Don't retire the penny obama, put you're picture on it, that's all we have left!!!!!!
Don't agree with much the Pres has to say but getting rid of the penny I do!!
Allen - Omaha
"Of course not Amy...why take the time to hold 535 members of Congress truly accountable to the job they are supposed to do when you can just sit back and lob turds at 1 guy in the White House?"
But the guy in the White House is "different" now... So they don't even have to learn or remember how the system works... They're not even sharp enough to know when they've shown the only hand they really hold sacred...
They will lob turds until their entire
punch-bowlarsenal has been emptied... Because deep down inside they know they're not swimmers anyway... Look at them flocking together here in yet another desperate bid for relevancy.An apt description of the TeaPeople in Congress!
How much do you get paid Comeback 2014? You come here nearly every day to accuse one liberal or another of being paid to post. You can't be for content because there is no value, so it must be by the word. Penny per word, is still a penny too much.
Mr. President: While you are at it retire the one dollar bill. Presidential and Sagagawea dollars are just find. Plus they are more reliable in machines. I will admit you can mistake them for quarters.
Obama wants to retire the penny, but can it be done?
FR: PLEASE, PLEASE, PLEASE! "No " FOX NEWS DISTORTION PROMOS. STAY TRUE TO YOUR REMARKABLE, SANE, COVERAGE OF OUR PRESIDENT!!
FOX NEWS SUGGESTIVE WE DECEIVE YOU BELIEVE PROMO VIDEOS...
http://www.youtube.com/watch?v=-wpV_M0ETdA
@ Backhouse, your answer is very intelligent; unlike FOX NOISE'S unforgettable nagging.
Yes, We Can...
but this one-cent issue is not worth that much?
If anything we should get rid of paper currency. Where is that debate?
Paper currency is issued as debt by the Federal Reserve and printed by the Treasury. Coins at least are not debt backed and issued directly by the Treasury.
End the Fed.
hey...alan_static
I have responded to your slogan of 'end the fed' before & I was joking...I hope you can take a joke...for the fun of it, I have no animosity toward you. If you don't like my response, just call me 'pignorant.'
Remember my response a few days ago to your slogan 'End the Fed'?
Call me 'pigorant' if you don't laugh. But again I have no animosity toward you. I like to read your informative comments on this vine.
This is a bit short-sighted. Unanticipated costs not being thought of here:
;-)
(Edited to add: Anyone know why the font on a numbered list is so much bigger?)
Allen - Omaha
Of course not Amy...why take the time to hold 535 members of Congress truly accountable to the job they are supposed to do when you can just sit back and lob turds at 1 guy in the White House?
Funny how you mention this but just a few short years ago that's all the left did was lob turds at W. Hell the left is still lobbing turds at him and he's no longer in charge.
As far as getting rid of the penny, I'm all for it.
At the rate of inflation under the Obama recovery, we might be able to do away with all coins and have bills starting at five dollars. Gas has increased in price for 32 consecutive days, and it seems well on its way toward 5.00 per gallon. There is no mention of the skyrocketing cost of energy by the mainstream media, who like then Senator Obama will only blame the president when he is a Republican. Of course with our nations massive debt and our weakened dollar, a 1.00 bill has about an equivalent value of a penny.
I believe that is it Rick, the price for fuel reflects the devalue of the dollar.
Good for exporters, bad for everyone else.
The price of fuel reflects supply and demand -nothing more. In places like Illinois where the refineries are switching over to cleaner, summer fuel and a refinery in Indiana has been shut down for repairs, prices are up more than usual. It's supply and demand - as usual!
Oh, so now it is supply and demand. But when Bush was in office the price was up because he was helping his cronies. Yet Obama says domestic oil production is up, gasoline demand is down, and we are even exporting to foreign countries. In fact Obama said during the SOTU address that our cars can now travel twice as far on a gallon of gas. The price of a gallon of gas was 1.82 when Obama took office, and it has never been that low since. So the 100% plus price increase for a gallon of gas or heating oil since Obama took office is all caused by supply and demand? So why haven't prices ever come down?
Grimey, I know, I hate that enlarged font on the bullet list. No idea why that happens. And this comment section does call for listing things so often! Try the list with numbers, next time.
reasons I like Obama
So much for Hope and "Change."
Grimey, disregard this part:
If he is successful in killing the penny, it will be his first success in office.
Third term? Well, Lil Michelle, at least you admit it.
Seeking Sanity,
How much do you get paid to be an Obama boot licker?
Nobamas legacy will be he gave order to kill bin laden and the penny.....loser
next on the agenda is the middle class. Maybe if Obama or some DOJ head labels the middle class as a terrorist, then he can drone them
Yep, let's do away with that penny and replace it with a TWO CENT coin with Mr. Obama's Picture on the front and a picture of his FORWARD logo on the back (that would make FLYeisty happy).
Ohmigosh!! I hope Obama get's a 3rd, 4th, even a 5th and 6th term!! Hillary can be his running mate! Yea!!
So when Obama said he was laser focused on the economy, he meant getting rid of the penny? I wonder which way the wind will be blowing tomorrow? Can you imagine what Obama could do with a 3rd, 4th, or even a 5th term in office. Obamacare was passed using a procedural loophole. Which is good, because we needed to get it passed so everyone could find out what was in it, or at least in the parts they had finished writing at the time it passed. Obama gave the order to kill OBL, and now the penny. Add to it that energy prices have naturally skyrocketed and we are talking some impressive leadership. Wow, the sky is the limit for this guy.
Irish 21 - never licked anyone's boots and never will. How much do they pay you to be totally stupid? Oh, right, you do it for free because it comes naturally for you!
Canada gave up on the penny years ago. But - since President Obama is for it, Republicans are against it.
he has managed to kill the dollar and this country WHY WASTE TIME ON A PENNEY
He has done away with the American Dream. Capitalism and Democracy. The Second Amendment . Hope for a better future for our children. I would say he can get rid of a penny.
Charlie - Canada just retired their penny a few weeks ago. Maybe you're thinking of paper $1 and $2 bills?
A penny saved is a penny earned!
Seeking Sanity,
You are right, I am so stupid. I feel all empty inside because a clueless liberal tried to insult me. Funny you call everyone on here that disagrees with you stupid but you have never stopped to look in the mirror. You never question what Obama does, all you do is defend the empty suit. I bet you jumped up and down when you found out he was golfing with the scum bag Tiger Woods.
Obama can do anything he pleases. He ran for office unopposed, and currently has zero oppostion in either the house or the senate.
I don't know why we waste valuable time on rhetorical questions.
Mr. Miller,
You nailed like a 1 cent whore.
Backhouse, too bad he didnt listen to those in Benghazi eh.
Now why would Obama want to get rid of the only coin that bares the likeness of Lincoln who freed the slaves? Oh, yeah so his supporters can wipe that part of history out too and claim to still be slaves. Wait, they are slaves, slaves to the Democrat party to vote for hand outs. Not all because there are those who grabbed hold of the American Dream and made thiers and thier kids come true, of course most of these are Republicans.
Of course he can kill the penny. After all, he already killed the dollar...
some conservatives on this vine are penny wise, pound foolish in their criticism and negativity, rearing their ugly end.
When will Obama do something that enriches peoples lives without creating political schism. I'm actually surprised the penny is the highlight story of the day? Is this NBC's idea of misdirection? I thought we had another fiscal crisis looming.
Since the media sees no fiscal crisis today, I will quote a boss I had from years ago, "Save pennies make dollars". He would always say that when I wanted to buy something that wasn't needed for the business. To bad no one in Washington will read this.
I use pennies as slug killers - they won't cross copper (even if it's only a thin layer) OTHERWISE, they wear holes in pockets and are WORTHLESS (except maybe for a few "old" ones I have in my cub scout collection from the early 50's) GET RID OF THEM (I'd support the $ coins, too, but they are too dammed difficult to slip into a stripper's g-string in Mexico)
and change the nickel to stainless steel, too. the METAL is worth more than the COIN
killing the penny should be no problem for the big O.....he's killing an entire economy......maybe he can have the end of the penny coincide with the next recession.
Irish 21 - well if anyone would know a 1 cent whore it would be a 1 cent whore like you. You are the epitome of the fool and each time you post your reinforce that fact.
Who the President plays golf with while on vacation is of no concern to me. You and your party had Newt Gingrich running for President so you clearly have nothing to say about that! And, you ran John McCain - who cheated with Cindy while he was still married to his first wife. Should I go on?
Again, you are the epitome of stupid and every post you make proves it! Now whine away - we're used to it! Glad to see you finally admit it!
i know you are but what am i. Irish21 has said the same thing to you several have pointed out...and yet everytime you continue to default to calling people stupid... You're trailer trash and nothing more. You are the weakest link
you're such a loser...how many cats? Did you say you graduated from Duke? LOL..NOT
In addition to getting rid of the penny I would also like to do away with the after purchase tax. Why can't the price shown be the full price, including the tax??
Don't get rid of the penny GET RID OF OBAMA!
Hey OBAMA where are all the Jobs?
Where is the RECOVERY? And all you can come up with is doing away with the penny
PATHETIC!
PRO FREEDOM
You are anything but
You want a Dictator not a President
and don't we have a wanna be already
Obozo has already destroyed the the worth of a dollar so why not the penny?
Pennies made of plastic with a holographic image inlay? Reminds me of wooden nickels. If it's "minted" with that cheap of a material ...is it even worth having?
Well -- at least with digital/electronic/online transactions -- the cents are still obviously enumerated as virtually the lowest decimal; thus, in the digital world, the "pennies" aren't going away, any time soon.
Seeking Sanity- Please go seek some!!!! Seriously!!!! NOT necessary much less mature or adult to be calling other posters 1 cent whores. That's pretty much "inflamatory" against the code were supposed to follow right???? But then you never seem to follow the rules of posting or of civility. Your first to call out others when you feel they are out of line or when you just disagree but don't think the rules apply to you???
Witchking-agree with your posts!!!!!
It should also be considered that even though the nickel & penny cost more than face value to manufacture, the other coins cost a lot less than face value to manufacture. So really there is no net loss.
AND, it is pretty much certain that if the the penny was to be eliminated, prices will go UP!
All you penny haters out there... be grateful that you are so financially well off that are worthless to you. There are plenty of us who would be more than happy to take them off your hands. If you people had a better comprehension of basic mathematics, you'd realize that they add up after a while.
Blabity blab blab bull@!$%#. Blah blah frightened. Blah blah communists. Blah blah blah Solyndra. Blah blah blah Kenyan. Blah blah blah blah BLAH BLAH BLAH.
Conservatives will never give up the penny, because if they did, they know that people would no longer be able to calculate the value of their thoughts, which apparently have not been adjusted for inflation since the 1950's.
How about this. Instead of devaluing all our money so it is worthless, how about if we make it valuable again by being a responsible nation with our finances.
What government has done to our money is shameful. We whore out our debt around the world and then print more money so it won't take as much to pay them back. But we have no intention of paying them back until our money is so worthless that they just give up on collecting it. But in the meantime that is why a green pepper in 1980 cost a dime and now it is a buck.
Why doesn't the President just have the Sec. of the Treasury direct the U.S. mint to stop making pennies?
Eventually (in 20 or 30 years) you won't be able to find any pennies.
Yeah....go ahead and kill the penny, Obammy. It will go down as one of your greatest accomplishments! Especially since everything else you've done has turned to sshhiitt!
Dr. E
skrewdworld - I see you call me out for the 1 cent whore comment but not Irish 21? Oh you're so clearly offended - only when someone is not on the far right! You show your hypocrisy with your idiotic posts. And, you prove my point - seeking sanity in the Republican party but as you and your ilk show - there is absolutely NONE to be found - no decency either.
Oh witchking - your rants show you are just another mental midget from the far right - crude, classless, ignorant and oh so willing to show it!
WHAT ????
Obama is destroying this country!!!
NOT..... Relax GOP you will be just fine without Penny.
The copper industry opposes it.
PJ-1795048
"There have actually been efforts to pass penny-banning legislation. Back in 2001, then-Rep. Jim Kolbe (R-AZ) introduced the “Legal Tender Modernization Act,” which would have made pennies obsolete by requiring retailers to round up or down to the nearest nickel on cash purchases.
That bill failed, and Kolbe’s second attempt in 2006, the “Currency Overhaul for an Industrious Nation (COIN) Act,” after zinc costs nearly doubled, met a similar fate."
If you read the article, you would have read that it was a republican who wanted to get rid of the penny years ago.
Reeking Insanity...you sactimonious Libtard BLOWHARD. Can't take a little criticism for your "messiah", a$$hole? It goes 'round and 'round, numbn*ts...Let's see who blinks first.
Why not let him kill the penny, he wants to kill everything else. He is so disgusting talking about the sequester cuts when it was his idea in the first place. I cannot believe that so many of you are still supporters of his. You must be just as dumb.
dirp
I bet if someone could find a way to make debit cards, etc more secure, we will no longer be using paper or metal currency in 30 years.
I forget the name of the movie that came out about two years ago, but anyways, I liked how they had it where you had a barcode in your arm in which you made all your transactions with. I think that would really save the U.S. some money.
It would be extremely easy to get rid of the penny. Just create a smaller 2 cent piece! I would be possible to make all combinations of change and with the so-called 1 in 100 (penny joke) the difference would go to the consumer!
HEY - LET'S ALL GO BACK TO 2006.....!!!!!!! :)
Senator Barack Hussein Obama, Floor Speech in
US Senate, 2006
The big problem with pennies is idiots with 6 & 3 gallon water bottles (or other large containers) full of them at home in their change jugs. Hey idiots cash them in!!!!! Make them out of steel like we did in 1943!!! Be careful what you ask for. First the penny then the paper dollar bill. Because it's expensive and wasteful too. The government vaults are full of $1 coins.
I know Penny she's a sweet old lady on Medicare and Medicaid...poor thing the death panels is big news right now...run Penny you sweet lil thing, push that walker faster Owebama is a coming for you!!
p.s. Penny now, nickel tommorrow, dollar next week...then paperless currency with the 'mark' on your forehead or hand...its coming sweet jesus and I ain't got time for that!
Oswald, if Democrats have become the party of NO, then Republicans have devolved into the party of DOH.
Death panels? Again? Seriously??? Bwahahahahahahahahahahahaaa!! OMG too funny.
The Statue of Liberty, "Lady Liberty" has suffered damage from Hurricane Sandy.
The pedestal was originally funded by having school children collect pennies to complete the project, because the wealthy failed to take interest.
We are permanently saddened by the grief from Sandy Hook's Lost Angels.
It would be a fitting tribute to "Lady Liberty" and to the responsibility that all adults must share in protecting children, no matter what, to again have school children collect pennies.
The damage to the facility repaired and a maintenance fund could be formed to keep "Lady Liberty" safe those that might harm this compelling symbol.
The value from cashed in pennies is greater than their monetary value.
The value from this symbol is greater that worth of the world.
getting rid of the penny... will make it easier for corporate america...to nickel and dime us to death...his arrogance...is a real team player for the rich...
JediUtahn ....
You and your ilk give the fair and liberal minded people in Utah a very bad reputation (yes, we are here!). Just remember, rats and snakes are not all that loved and accepted here (in Utah). Nor are people that do not respect offices. Our Governor works with the President to use all funds available to insure low unemployment rates and the need for work to be a requirement for welfare recipients. While Utah is a red State, we are an abnormal one. We work with the President, our welfare recipient rates are low, and we continue to improve outcomes for those that do receive benefits.
I would suggest you change your name as well. The Jedi thing makes all of us in programming ashamed. Star wars up, kitten, and cork it.
Yet like the after affects of a skunk his accomplishments linger. If you had an ex who left you with 100k in credit card debt wouldn't you remember her long after she was gone?
uuuuhh, I had an ex who left me a 10,000 dollar credit card bill.........but I did the impossible... I paid it off. So Larry, yes, you can be responsible, and no, obama is not the tooth ferry....but now I suppose he really wants to keep the "change". What a maroone. by the way... my avatar can beat your avatars a$$. Just saying.
@Party-Liners-Wreck-The-Country, thank you.
I make a practice of picking up lost/discarded pennies/assorted coinage from the ground. I simply love the idiots who look through their change and actually throw away the pennies "because they're worthless". The first year of picking them up from the ground or wherever got me $200.00. And that was just the spendable ones! I also picked up a number of pennies that were collector's items, a few being more than a century old That was only in the first year. I reckon that by now the total is above $2,000.00 in pennies alone. It has been well worth the smiles and mocking comments of friends and the idiots who throw the money away. Needless to say, its been awful nice to be able to hit the penny jar when finances get tight and even nicer to see it swell my savings account (when that used to happen).
That being said, the time/money wasted on this issue in Congress will be well above the $50 million mark and any savings negated. Its a non-issue when compared to others that could save us more than budgetary chump change. You're all arguing about nixing the goddamned penny when there is 2-3 TRILLION DOLLARS- thats right, 2-3 TRILLION DOLLARS missing from the military. On Sep 10, 2001, the day before we were attacked, the front page announce the military had lost 2-3 TRILLION DOLLARS, which was more than their budget over the previous 10 years!!! Nothing was said about where those TRILLIONS OF DOLLARS came from (ahem..drugs). You all keep on sniping at each other over $50 million but it seems that none of you have yet figured out that investigating the loss of 2-3 TRILLION DOLLARS and recovering it might take a hell of a larger bite out of the debt. Are you all able to pull your heads out of your sphincters long enough to agree that the loss of 2-3 TRILLION DOLLARS is worthy of an investigation and recovery and should have a high priority above this minor penny issue? They've literally got you arguing over pennies while several banks worth of dollars has simply gone poof !!! Keep fighting over this penny thing and you'll all have earned and deserve the contempt in which these mega-thieves hold you. 11 years and counting waiting for you supposedly "concerned citizens" to demand action so far.
Get rid of the penny, nickel, and quarter. Get rid of the dollar bill. Dimes, half dollars, and dollar coins will serve us better and save the government money. Every little bit counts.
If only we had a congress with any desire to get anything done.
Everyone seems to miss the fact that each 1.6 cent penny is spent a million times. One and a half (about) cents for something used a million times. I have pennies from the 1940's. They're still fine. Why do we need to make so many more? To keep up with the dollars from thin air.
Get the fraud out of the White House and save the pennies. After all, a penny saved is a penny earned.
* In 59 voting districts in the Philadelphia region, Obama
received 100% of the votes with not even a single vote recorded for
Romney. (A mathematical and statistical impossibility).
* In 21 districts in Wood County Ohio, Obama received 100% of
the votes where GOP inspectors were illegally removed from their
polling locations - and not one single vote was recorded for Romney.
(Another statistical impossibility).
* In Wood County Ohio, 106,258 voted in a county with only
98,213 eligible voters.
* In St. Lucie County, FL, there were 175,574 registered
eligible voters but 247,713 votes were cast.
* The National SEAL Museum, a polling location in St. Lucie
County, FL had a 158% voter turnout.
* Palm Beach County, FL had a 141% voter turnout.
* In Ohio County, Obama won by 108% of the total number of
eligible voters.
NOTE: Obama won in every state that did not require a Photo ID and lost in every state that did require a Photo ID in order to vote.
Its cost is more than its worth & the military has deemed it largely useless,...
Like I give a rats arse what the military has "deemed"...
He should just use a drone strike to "KILL THE AMERICAN PENNY" because he already gave him self the power to be Judge, Jury and Executioner!!!!!!!!! If he uses drones no WARRANTS, PROOF
or DUE PROCESS NEEDED!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Let me get this straight, President went off to play golf( again) with Tiger Woods and this was the highlight of their discussion? ( sarcastic)
This is what happens when the President only surrounds himself with rich people. There is a disconnect between what is considered important to the economy and what isn't.
Rather than killing the penny as a coin to save money, the President could be much bolder and eliminate the privately held Federal Reserve Bank.
This institution created in 1913, essentially it is nothing more than a money making scam created by a group of international bankers. We need to eliminate the influence of financial abomination within our political system because their parasitic agenda isn't in line with the idea of democracy or the greater good of any country they are influencing.
UMM, there wont BE a third term. Presidents can only be in office for TWO terms.
Where oh where is the story of that stupid cracker Joe Biden, telling house wives to "buy a double barrel shotgun, then go out on the porch and fire 2 shots into the air" to scare away intruders. Yes this was what he said, doubt this story ever see the light of day. The major media is so in-the-tank for Obama/Biden its scary. Can you even imagine Joe as president?
Obama must be desperate. He's looking for things he can change before he gets booted out of office for all his lies. He's been indicted legally and with any hope at all he'll be out of office before this 1st year is up. Why is it that democrats don't think they have to follow the rules??? Whether you find them on 1600 Pennsylvania Ave. or the hood its all the same. All you homers that think he'll be here for a 3rd term, dream on. By the end of this year, he's a gonner.
Pennies? Really? With all that is going wrong you want to take time out to work on whether we have pennies or not? This guy is losing it.
Those bad pennies do have a problem with continuing to show up in Washington!
:)
Canada has dumped their penny and we are all lighter and happier for it. Irksome coinage used by the elderly to slow down checkout lines at the grocers just to have a chat.
I have started to notice that you libs on this site have a big problem with old people. What a bunch of intolerant asses you really are.
What is going to happen to my 2 cents? My two nickles worth just doesn't have the same ring.
Bygozzy ozzie, my problem with old people is that I am one of them. Keep jumping over your conclusions pretending not to be tripping over them
Ozzie that is because Meriams definition of tolerance (and many other words) arent found in the libtard dictionary...its like opposite day everyday on FR...idiots
RedDev . . .
So agreed ... how about two bits for thoughts?
I don't know there BCWC I seem to remember the outright disgust you lefties had for one aged NJ Congressman who was retiring and he was even a Democrat. Probably because he was white though and standing in the way of a minority. That makes right in your eyes I'm sure.
Layton, you trying to put the reins on me?
Memory provides the weakest testimony OZ ... I am old enough to have learned at least that. I do recall however seeing that it was not so long ago that most "lefties" wished him a well deserved retirement. Lautenberg is his name oh senile friend.
If a republican in Congress had suggested getting rid of the penny, conservatives would jump on board UNTIL President Obama agreed....flip/flop.
As an episode of The West Wing once suggested humerously, it wouldn't be easy to get rid of Abraham Lincoln on a coin. You'd lose Illinois voters and Lincoln fans across the country!!! Seriously, it is a sensible idea but I'm not so sure rounding up everything to cover the odd local taxes percentages will be a big hit to ordinary shoppers. I say that because then the nickel becomes the next target. Why have nickels? $1.95, why not $2.00.
Well, who knew that saying a NJ democrat (or GOPer) should call it quits because of age was such a horror? I don't recall liberals being disgusting in their comments. I do recall my own thoughts which were similar to others expressed--there comes a time when legislators need to call it a day while they can still walk out of the chamber on their own.
RedDev . . .
NEVUH! Your thoughts are worth at least $0.25 if not more.
Time for a parking meter as an avatar Red.
Without appropriate currency my two cents will be worthless. Agreed, RedDev, my two nickels worth just doesn't sound right, and I am too old to adapt. However, I have always felt cheated by "a penny for your thoughts," but I am not sure I am prepared for the extravagance of two bits for requested ruminations. What a confounding state of affairs, my day has been set in a tailspin.
BCWC: The Jersey shore will not be the same without your pennies.
Mark, a glass of vintage Pinot for your vintage thoughts!
Exit0
Hmmmm What? I am flummoxed by that.
BCWC: Sorry, by the end of the summer the area will have been flooded with Canadian pennies. Oh, but we do very much appreciate your business. Thank you
BCWC,
Not sure my thoughts are worth that much! Even the vintage ones!
Mark, a lot of things look good at the end of the bar after a glass or two ... even thoughts, and those you don't wake up with.
Maybe Obama should just rid the nation of all currency, and have everyone using plastic. That way government can track all purchases, and quickly and efficiently hand out money to those deemed entitled. Maybe they can build it into Obama phones.
Rick, we didn't need your $.02 BS and we're not paying for it either.
Maybe Obama wants to rid the nation of the penny because of the campaign promise made by middle class Joe Biden. Remember Biden said "no one making less then $250,000 under Barack Obama's plan will see one single penny of their tax raised." Without the penny around maybe the Obama administration can claim that wasn't a lie.
Yes Rick, That was another Obama lie ! Through Obamacare, many medical deductions have been further limited causing an INCREASE in taxes with the disallowance of normal medical deductions !! This affects many, many people well below the $250k threshold level !
Mark - apologies for rocking your world, but save a few for those for your penny loafers. Nickle loafers sounds like a bread line, dime loafers are simply a dime a dozen, and quarter loafers wreak of conspicuous consumption.
Next step could be the nickle as New Zealand got rid of the 5 cent piece as well!
BCWC - I'm going for a vintage penny slot machine, with cherries, lemons, and bars. Someone has to relieve the public of their 'penny saved/penny earned!!
Please explain the future thoughts involving sales tax collections of 08.25%.Do we round that up to 10% ?
And since it is against the law to melt down pennies who benefits from the profits of the doing away with them.
ozzieo1-7277359
The liberal hatred for the elderly was obvious in thier support of Obamacare and in the administrations constant whining about "entitlements" where they lump Social Security and Medicare in with Welfar, Food Stamps and the hundreds of other hand out programs.
the 8.25% has some specific number unless it is under $1. even at $1 it's "9 cents" and that becomes 10 cents - if 4 then it becomes 5 if 6 it becomes 5. Statistically, it "averages out"
I can only assume that is sarcasm since it is the GOP that refers to Social Security as an "entitlement", despite the fact that its recipients have paid into the programs their entire lives.
Speaking as one of the elderly that paid into social security for over 40 years and then had to get a lawyer to get my S.S.benefits,and having to give said lawyer,aka"politition" a chunk of MY MONEY, IT IS NOT AN "ENTITLEMENT"!!!!! I paid into it in good faith that it would be there for me when the time came for me to get it. At that time,the a$$holes acted like it belonged to them!!!! These jerkwads need to be LANGSLIDE VOTED out of office. They need to try an collect what is due them like anyone else. DAMN LOWLIFE SCUM!!!!!!!!!!!!!!!
Hear ya!!! Spent 4 years battling for my SS and they managed to screw me out of back pay for three of those years!!! And yes it does seem as if SS employees feel as if it's their own cash your trying to get rather than the benefits you spend a lifetime paying into!!!!
Also have noted a LOT of attitude towards older Americans, particulary white older Americans. One really has to wonder if these haters don't realize they will be the "old ones" in the not as distant as they think future!!!! Youth is wasted on the young sometimes. Too bad we can't be born old and at retirement age be young and healthy to really enjoy our so called "golden years".
I notice that you Cons on this site have a big problem with details. For example, Obama is from Hawaii, not Kenya. And the person who posted that comment about the elderly is from Canada, not the U.S. A penny for your thoughts indeed, even if way overpriced I guess huh?
Rick's Real - what's funny, liberals are the ones standing up for the elderly. Republicans and the far righters want nothing to do with them and would cut every benefit they receive. Conservatives can never seem to tell the truth! You know, like Romney and lyin Ryan!
WOW thoughts are going up faster than the price of gas.
How about a penny for your thoughts? Just because you do away with a coin doesn't mean you can't use the word penny anymore. A bride still get carried across the threshold by her groom on her wedding night, but there hasn't been any need for thresh to be held at the door in a very long time.
What's a thresh? Didn't he play left field for the Yankess in the '60s?
An intelligent person would notice the words under Obama's plan. A plan to extend the Bush tax cuts to only those making over 250K. It doesn't mean no other taxes can be imposed for any reason. Obamacare wasn't part of his tax plan was it?
That would be the GOP. You do realise to get the 47% Romney used as handouters you have to be including seniors on social security. Without social security and medicare included the percent would probably be around 20%.
Romney is not a candidate anymore, so its time you liberals quit passing the blame to Romney. The president is screwing us out of money by forcing us to buy into his healthcare plan.
Then he is forcing millions of taxpayers to pay for illegal immigrants ( These are considered part of govt. handouts as well); and he has no clue how to improve the economy.
This is just another ploy by MSN to take the pressure off the President while he went off to play golf(again) with Tiger Woods.
Yeah, he's been really working hard lately.
Dang, I guess it only take a penny to piss off liberals! Cheap at any price!
Said the pieman to Simple Simon, "First show me your penny." Said Simple Simon to the pieman, "Alas, I haven't any."
He'll replace the penny with an IOU in his image.
Obama, Commodus whats the difference.
get rid of it! we are the laughing stock of the world when it comes to common sense solutions. same with the dollar bill.
Under Obama, the $1 dollar bill will be worth about a penny pretty soon .... will he get rid of the dollar as well ?
that is the fundamental change...he'll get to that, as said in his third term.
[...he'll get to that, as said in his third term.]
WAH!
Yes, now we have it ... the thought of Oblama going for a third term is now making hardcore extremist liberals beginning to cry !
Pearls of wisdom, jim...pearls of wisdom.
who let the monkey out of the brooklyn zoo... at least its handler managed to put the diaper on first
Jeez... I thought we were finally revving up to get on the taxi-way when I realized it was just 'Lil NimmyJumbers and Sneezy Almostiss doing all the high-pitched whining...
Btw Sneeze... The difference between Commodus and Obama is that the first is the Latin root word for the republican puch-bowl and the latter is the guy that pushed them back-wards into it.
Supposedly it costs somewhere between 0.08 and 0.12 cents to make a penny. Now there is no way Obama is going to be will to issue IOU's in his likeness for anywhere near that cheap. An Obama IOU will need to be a designer coin, and the largest size issued. Obama is going to want something big and gaudy, that comes with a chain so everyone gets to wear it around their neck. We can call it the Obama debt coin, the symbol of a ball and chain waiting for future generations.
there is no difference Ruken...Im hoping Obama renames the months and changes the populace name to Obamanibles. This is Obamanation after all. Maybe Obama can get in the MMA ring and slay a few beasts. Maybe we'll start with Limpwristed Folders and NY monkeys... keep the changes b*tches ;)
[who let the monkey out of the brooklyn zoo]
Um, that would be the Bronx Zoo...the Prospect Park Zoo is in Brooklyn. You really should get out more.
Say it with me now:
FAIL! caesar...
FAIL! caesar...
FAIL! caesar...
[I thought we were finally revving up to get on the taxi-way when I realized it was just 'Lil NimmyJumbers and Sneezy Almostiss doing all the high-pitched whining...]
chick binder, best not poke the bigots
So chickie-poo binder is nothing more than a re-reg of "puken" ? LOL !! Thus the fascination with following my posts .... because he NEVER offered anything of value anyway !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
[So chickie-poo binder is nothing more than a re-reg of "puken" ?]
lil jim, FAIL! caesar has a crush on chick binder...it'll pass...I can see the way he's looking at you.
[...because he NEVER offered anything of value anyway !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!]
And yet you come up with this little pearl of wisdom:
Way. To. Go.
like my ' I oversee big projects' fanboy Monkey above...
So, "caesar"...who did you vote for again and why?
Oh the irony, when President Clinton has President Obama's image put on the new $2 coin!
LOL...President Hillary, Well if she isn't too busy out there making her millions on the lecture circuit, Or if she doesn't get drunk and fall on her @ss again and bump her noggin.
By the time Obama gets done a $2 coin will be worth 1 cent anyway.
can't put somebody "live" on a coin. sorry charlie - only the best tuna get to be star kist
tell that to Commodus aka Obama...when you're a living diety anything is possible
Poor stone faced graniteman...no friends. Hey, where'd WCA go?
I feel so useless and cheap!
With the value of the dollar dropping like a stone, guess I'll have to invest in a new moniker.
Oh, is that it now? Republicans are praying for an Obama third term scare? What should really scare you is that Barack Obama has now less than four years to complete his final term in office; in just four short years, the Republicans are going to start paying for all the fringe thinking. Just like binge drinking, if it doesn't kill you, fringe thinking is going to leave you with a whopper of a hangover at the very least. What on earth will creative-deficit knuckledraggers on the far right find to complain about after all the brewhaha over a black president? Nothing, that's what. And you'll then smack into the brick wall at highway speed with the realization that there will be no boogeyman left to blame. Without a super-boogeyman as super scary as Obama, you guys will be @!$%#ed. Cuz you sure as hell don't have a single viable candidate who can attract the center, and you've got no cohesive message whatsoever on the right. A leopard can't change its spots overnight. No wonder you guys hate evolution so much.
Yay.
Rick's Real ....
I am standing and applauding your comment. Very well stated and wonderful post.
Bush's last budget passed in 2008 for fiscal year 2009 had a 1.2 trillion deficit and brought his debt to 12.1 trillion from what he inherited from Clinton of 5.7 trilllion. Why didn't you nutjobs notice the build up of debt under Bush?
common sense tells me, if it costs to much to make the penny, increase the value of it, change the value from 1 cent to 2 cents, now we will have a 2 cent penny instead of a 1 cent penny, which will be worth minting
[He'll replace the penny with an IOU in his image. Obama, Commodus whats the difference.]
WAH!
FAIL! caesar, you forgot to call him a d-bag...
Okay Mickey ... I'll play your game. Obama could be the poster boy for a certain Massengill product !!
Do you feel better now ? Do you feel "fresh as a daisy" ??
[Okay Mickey ... I'll play your game.]
And what game might that be, jim? I don't know of which "game" you speak. If it's the one called "Pin the Tail on the Coward", ask FAIL! caesar...he's got a whole lotta tails!
You WANTED Obama to be called a name .... I merely gave a suggestion !
Actually "Pin the Tail on the Jacka$$" might be more in keeping with the Democratic symbol of your party !
[You WANTED Obama to be called a name .... I merely gave a suggestion !]
WAH!
To borrow a line from Glen Beck......
....TeaPeople have...a...deep seeded....hatred for President Obama....(Black People)!
I agree, chilled. Some are outright racists, but most are just bigots.
Maybe Mickey,NY doesnt need pearls of wisdom he already has a pearl necklace.
gee - the reichwngnuttdum@!$%#s are out in force today, aren't they?
freeloader, did your mom teach you about pearl necklaces?
Tick rock, my little re-reggie...
i havent seen a penny in 14 years. being stationed overseas for that long. on bases overseas they just round up or down and do not give pennies, so i guess they are already kinda phasing them out. i havent missed them.
First Read Obama poodle journalists, POLITICO is dissing you as in "fear" of Obama
http://www.politico.com/ "Obama, the Puppet Master"
You know, even if you are mean and kick your dog , he remains loyal to you....
So it goes with the mainstream lapdog press. Liberal Politico forces itself to a post mortem on the over-the-top fawning Obama coverage.
NOW they confess, after the election! Perhaps the meaningless golf vacation snub has raised the hackles of some media lapdogs, being kicked and all.
"ABLB" anything but liberal bias...so it is confession time!
You see, Obama and his handlers are geniuses....the media would love to give you objective coverage, but they cant keep up.
Politico:
"Not for the reason that conservatives suspect: namely, that a liberal press willingly and eagerly allows itself to get manipulated. Instead, the mastery mostly flows from a White House that has taken old tricks for shaping coverage (staged leaks, friendly interviews) and put them on steroids using new ones (social media, content creation, precision targeting)"...
"While White House officials deny it is intentional, this administration —like its predecessors — does some good old-fashioned bullying of reporters: making clear there will be no interviews, or even questions at press conferences, if aides are displeased with their coverage."
"[Obama] gets more-favorable-than-not coverage because many staffers are fearful of talking to reporters, even anonymously, and some reporters inevitably worry access or the chance of a presidential interview will decrease if they get in the face of this White House."
Obama as "master at limiting, shaping and manipulating media coverage" .....
Obama, your lapdogs have barked...but not to worry, they will remain loyal....
I read that article too, seems vaguely familiar don't it?
Speaking of dogs, has anyone seen Bo lately ? Did he become "fricasse of Bo" ??
GOP Comback:
Please read further - Allen and Politico are GOP mouthpieces. Look below for the "tough questions" asked of President Bush.
____________________
Keep in mind that Allen wrote today that Obama avoids Politico reporters in part because they "ask tough, unpredictable questions."
Here are Allen's questions to President Bush:
All right. Mr. President, who does the better impression, Will Ferrell of you, or Dana Carvey of your father?
Mr. President, I know you're going to hate this, but I'm hoping that we may twist your arm and talk about baseball for just a moment.
Now, Mr. President, I wonder if you think that Major League Baseball is doing enough to combat
steroids use?
Mr. President, you haven't been golfing in recent years. Is that related to Iraq?
Now, Mr. President, you and the First Lady appeared on American Idol's charity show, "Idol Gives Back." And I wonder who do you think is going to win? Syesha, David Cook, or David Archuleta?
When you took her arm [at daughter's wedding], Mr. President, what were you thinking?
What was your toast?
What are you looking forward to when you finally get your computer back?
In the spirit of the Internet, I wonder if we could ask a question from one of our users?
Mr. President. You talked about some tough decisions -- what was the happiest moment you've had in this
amazing room?
http://gregmitchellwriter.blogspot.ie/2013/02/when-crybaby-interviewed-president.html
Those are all hardball questions compared to what this President get's....Oh wait he doesn't take questions, my bad.
Who has appeared the most number of times on Meet The Press? John McCain.
Every Sunday, the msm political shows give George Will, Peggy Noonan, Joe Scarborough, etc and a bevy of Republican politicians the air time to attack, criticize and bloviate in unbridled fashion to their hearts content. There is an entire network devoted to spreading Republican talking points. I'm sorry the Washington reporters are hurt the Obama administration doesn't give them free and easy accesss to ask their gotcha questions, and make a "name" for themselves in doing so, but I wouldn't want to talk to them either.
Pat, and those were the TOUGH ones for Bush!
ozzieyou - you are such a sad little man. The President takes questions all the time - you don't bother to watch!
Amy - and don't forget Carly Fiorini - the queen of nothingness! She is on so many times and yet she is nobody. Her reign of terror at HP has been over for some time now. She is there only to parrot the GOP talking point with her veiled hatred of Obama and anything related to him. And, she never has her "facts" quite right but she's always eager to spout them!
h/t The Obama Diary:
Carney said Obama has given 591 interviews since he took office.
Carney said - When I was covering GWB on his first trip he came to the back of the plane . . we didnt see him for 3 years after that.”
Pat, Boston, cheers for that reminder!
Was listening to a bit of discussion regarding President Obama, the press, etc; as Howard Fineman said more or less, the WH press corps can't quite figure out President who knows social media and how to use it, and they just can't quite accept they aren't as relevant.
Pat, and isn't it interesting he's completely gone into hiding since he left office?????
He doesn't need to take any questions! Just open your ears and do what he says!
Hasn't had a press conference with the WH reporters in over a year, right?
Jody, I did hear that from Howard last night. I agreed with him. They are irrelevant. Totally.
SS, GWB went on a tour to promote his book and I think that was about it since he left office.
Monday, January 13th, 2013 WH Press conference and I do believe there have been at least 2 since then, lyin lil Michelle!
Pat - he's keeping a very low profile. Just as well, he is less relevant than he was before and he was irrelevant then!
SeekingSanity
Pat, and isn't it interesting he's completely gone into hiding since he left office?????
Not really Seeking, since Bush f***ed up the country and can't go outside the country for fear of being locked up.
February of last year, George W. Bush had to cancel a speaking engagement in Switzerland because human rights groups put pressure on the Swiss government to arrest him over torture allegations if he enters the country. Even though officials claimed Bush had diplomatic immunity because he was a former head of state, they recognized that torture is a legitimate crime under international law. Organizers of the event felt the "atmosphere had become too threatening" and the gala went on without Bush.
Under the Convention Against Torture, Canada is obligated to prosecute individuals suspected of committing torture found in its territory if other countries have failed to do so.That trip was preceded by another event where Bush was to attend a private breakfast at an evangelical university, also in Canada, but was abruptly canceled due to a backlash of student protests.
In November 2011, a symbolic tribunal in Malaysia made up of the country's former premier and a former federal judge among others, found George W. Bush and UK's Tony Blair guilty of war crimes. “The evidence showed that the drums of wars were being beaten long before the invasion. The accused in their own memoirs have admitted their own intention to invade Iraq regardless of international law,” it concluded.
Although the Malaysia tribunal isn't officially binding as an arrest warrant, it shows the sentiment that is building around the world for calling these Western leaders what they are: international "child killers" and "war criminals."
All of these stories seem to indicate that the circles where these murderers are still welcomed are getting smaller and smaller. Whether they will ever be actually tried for their crimes remains to be seen. But one thing is for sure, every time they venture out of their undisclosed bunkers, they get shoved right back in by angry mobs of humanitarians seeking justice for their wickedness.
http://www.activistpost.com/2012/03/war-criminals-bush-and-cheney-can-no.html
-------------------------------------------------------------------------------------------------------
Do you think GW is painting his naked self portraits because his being afraid of people has him suffering from chronic anthropophobia?
Agreed. The GOP likes to pretend that he never held office. Dubya? Who's that?
He's MIA, but I guess he's somewhere with his Secret Service protectors, thinking that somehow he's in danger. NOT!
@Bev.....I would enjoy the ICC taking a serious look at Dubya et al. But the unindicted still walk free!
Beverly - Hi!!!!! Haven't seen much of you - but for totally different reasons than Bush - LOL!
Yes, the World Court has warrants out for Bush, Cheney and Rumsfield for war crimes (not sure about Condi Rice). They can't go anywhere - we're stuck with them!
This is what our new President said in April 2009......much to my shock.
Crime pays, sadly, President Obama decided to give Dubya a pass. Perhaps some other country will not be so inclined!
"Hasn't had a press conference with the WH reporters in over a year, right?"
WRONG.
Pat in Boston MA, do you ever check your facts before spilling your tripe or are you the typical liberal trash we have all come to know.
Amy B. Portland, ME
"Who has appeared the most number of times on Meet The Press? John McCain."
Rumor has it that Mitch McConnell is slap-fighting furious over this fact but there is little he can do to show his fire publicly because the producers told him that if HE were on that often they'd have to change the name of the show to "Meet The Priss"...
stopfreeloaders
"Pat in Boston MA, do you ever check your facts before spilling your tripe or are you the typical liberal trash we have all come to know."
You left out the part he was wrong about freeloader. Do try to complete a thought connected to something tangible...
Better a president who has employees that are lapdogs then a president being the lapdog of others.
http://www.thedailybeast.com/articles/2012/02/13/grover-norquist-speech-cpac.html
Beverly,
Its funny that you mention our former "leaders" being unable to leave the country in case they get arrested. When Georgie Jr was in office I sent him an email that told him to stay out of Vermont or I would perform a citizen's arrest on him in hope of his extradition and prosecution by the World Court. I'd do the same for Chainy (I know the right spelling, but this is more appropriate) and for the other convicted felons the republicons approved for his cabinet. Talk about corruption!
Getting rid of the penny and also replacing the paper $1 bill with a $1 coin will not be popular, but both of these things will decrease costs for the US government and would allow our tax dollars to be used for better purposes. Congress, pass a bill to modernize US currency.
But when Obama leaves office (wish it were sooner than later) our currency may begin to rebound !!
Right Jim, because there is nothing an American exporter loves more than a higher priced dollar.
WP Joe, that would be nice but shoot, Congress can't even pass a bill to allow the US Post Office to modernize so I doubt they can handle coins right now.
Bear in mind that the mint makes, well, a mint on other types coinage (dimes, quarters), and especially with the bullion coins, which are sold well above their metal and face value. The drag of the penny has been overblown.
We already have a dollar coin, the Sacagewea and presidential golden dollars, the successors to the much-maligned Susan B. Anthony. All are popular with mass transit systems nationwide. The dollar bill is unlikely to be dumped anytime soon because it is used in so many vending machine applications.
Canada doesn't have a penny but they do have 1 and 2 dollar coins. The smallest paper bill they has is the 5 dollar bill. I use the 1 dollar coin as a ball maker on a putting green.
Exactly right, @BlackCat. A "high-value" dollar may convey some bragging rights, but it is a lower value dollar that creates jobs. Why do you think that developing countries such as Brazil and India are complaining that the US and the Euro Zone are manipulating currencies to keep them from rising? Because it makes the products of the US and Europe more competitive.
I noticed that it is the Presidents fault that we still have the penny. I thought that Congress was in charge of what currancy we used? Maybe I was mistaken.
As it did under Bush when we were propping up the banks with 800 billion in loans and trillions in free money loans? The banks were still hemorrhaging money after the bailout and were kept afloat by borrowing trillions free from the fed, they paid back their loans with profit from our money. Slight of hand to fool the ignorant.
If they get rid of pennies, what will happen to our seven percent sales tax? Will they round it up to ten percent? I honestly cannot imagine they would round it down to a nickel. Or maybe we're supposed to stop paying cash for anything that has a sales tax?
I believe that cash purchases would be rounded to the nearest nickel after taxes are figured. Purchases using credit cards, electronic funds, etc. would still be done to the cent.
shall I appeal to your lack of mathematical ability? what is 7% of $2? 14 cents. that rounds to 15 and you gave up a penny - remember that the next time you pay 12 cents and it rounds down to 10. ARE YOU SMARTER THAN A FIFTH GRADER? Apparently NOT...
It's sad you got 4 thumbs up. That means there are at least 4 people that agree with your logic. That's almost scary.
Irononically, it is Obama who made it a "reason" to get rid of the penny, This Spendaholic/Taxaholic/Print unlimited amount of money has made the penny virtually worthless even less the worth than it was before. Yet another negative result of this Kakistocracy Regime.
Perhaps you care to ramble on about Canada getting rid of theirs?
bcwc - rambling is what Kurt does best - no substance - just his hatred of Obama. So sad!
bcwc - and he's clearly delusional as the Kakistocracy Regime was the one run by Bush/Cheney. Posters like Kurt can't take the truth so they bend it to fit their lies!
Average unemployment rate higher, foodstamps at record high, Obama the only Presidency with $1 Trillion annual "budget" deficit (now on way to 5 of them), credit downgrade under Obama, A new Secretary of State that makes up atrocities against US Troops for sole political gain at Senate Hearings (1971), A pending Secretary of Defense that is Pro-Iranain Regime that held many US Hostages for 444 days. Yes, indeed, the current Regime of Barry Soetoro/Biden is the Kakistocracy Regime that Bush/Cheney does not even come close to the Kakistocracy status despite the high spending regime of Bush/Cheney.
The Penny iteslf is worth more than the yearly annual budget Deficit of over $1 Trillion of this current Kakistocracy Regime
Kurt - yes idiot, when unemployment is high - because of Bush (bleeding 700,000 jobs per month his last few months in office), foodstamps use does go up. The Credit downgrade was attributed to Congress's unwillingness to work with the President (according to the Credit agency); the SoS comment is just a blatant lie; the SoD comment is another lie; actually your entire post is garbage - but you knew that when you posted didn't you? Now go make up more stupidity!
SeekingSanity, blame Bush is rather old after 4 years Obamanoics reaching Kakistocracy Status, Obama NEVER had the unemployment rate below 7.8% (and that rate ONLY one month in entire Term), the rate he got from Bush. Reagan inheriated a much higher unemployment rate and Interest Rates from Carter than Obama got from George W Bush. Yet, by this time (5th year), Reagan already had a few quarters of over 5% GDP and unemployment rate of below 6% for many months.
Obama term two, does have one thing going bad for it...his 2nd term inherited an awful mess of the policies of the Kakistocracy Regime of Obama's 1st term in office.
So are you going to blame Bush for record high gas prices NOW for the month of February ever because Obama stopped the Keystone Pipeline 3 years back? Of course, you blame Bush for Obama's Kakistocracy Policies.
SOS comments is absulotely true... Nhan Quyen Cho Viet Nam! Human Rights for Vietnam! ... SOS rather make up atrocities against the US Troops and SVA while he ignored the REAL Atrocities of the NVA and Viet Cong.
SOD comments might not mean much to you as you might be ok with a SOD the pro-Regime that takes American Hostages.
If your going to make up Garbage Kurt, try it make it decent Garbage. Wow.
gee kurt - when did you stop beating your wife? makes just as much sense as your "comments"
myvote and put a fork in it - thank you! working and posting and I missed little Kurt's tirade but you two clearly didn't. He'd be funny if he wasn't so pitiful!
They've been talking about doing away with the penny for decades but the RWNJ's think Obama's to blame for every bad thing that's happened for 50 years and every bad thing that happened to Bush was because of an action or inaction by Carter or Clinton or in many cases Obama before he was even elected.
Kurt's Comment: Liar, lair pants on fire. Any reasonably well informed person knows the 2009 budget was passed in 2008 by Bush before Obama was even elected and had a 1.2 trillion deficit. And what about Bush's drug plan that costs 100 billion a year. Obamacares paid for. Name one program Obama has initiated that's unpaid for. Thank Bush for the increase in food stamps. Clinton cut 100's of thousands of aliens from food stamp and medicaid roles and Bush reinstated them.
http://www.nytimes.com/2002/01/10/us/bush-plan-seeks-to-restore-food-stamps-for-noncitizens.html
ALI... PLEASE update your article with a more accurate representation of what percentage of the budget $58 million actual is!!
"less than one-tenth of a percent of total federal spending in 2012"? REALLY??? While this statement is *technically* correct, it's grossly misleading.
$58 Million / $3.8 Trillion = 0.0015% So how bout "less than 2-thousandths of a percent. C'mon, man!
Anyone with a decent grasp of the federal budget and basic math should have realized almost instantly that the "<0.1%" figure was WAY off. I know it might seem like a triviality, but when people are ignorant of the actual numbers, they are less informed voters. And lesser informed voters elect more ignorant politicians, and our democracy suffers.
58 million HERE and 58 million THERE and pretty soon we're talking about REAL MONEY...
End the Fed. End the inflation.
Nobody cares about the siginificance of the metal inside many pennies is worth more than a penny. We all love devaluation and having our money stolen.
I have an Idea why not just undergo devaluation of the currency on a 5 to 1 scale, the result is a 5 fold increase in strength of the currency.
Pro: 0.05 pre-devaluation becomes 0.01 post devaluation.
Con: have to issue new currency to replace the old and recycle all the old.
Pro: buying power increases 5 fold that 5$ latte now only cost 1$
Con: paychecks will at first psychologically appear smaller a person making 10$ /hr pre-devaluation would now make 2$/hr post-devaluation
Pro: psychologically speaking the # representing the National debt shrinks from 20 Trillion to 4 Trillion
Con: the above is only a psychological shift.
actually, indirectly, with the value of the $$ being allowed to drop on the overseas markets, that IS what is happening.
Anyone really think businesses will ever round down?
Washington lobbyists will henceforth have to wear Nickel Loafers.
Funny, Chris! ;-)
Lobbyists were named because they used to hang out in hotel lobbies waiting for their congressman. Loafers were named to mean comfortable shoes; something to wear when just "loafing around the house". Republicans in the house sure seem comfortable doing that.
That's why I believe that congressmen should be renamed loafers. It's actually a much more fitting title for the jobs they do.
Retire OBAMA; keep the penny!
Yep, one thing for sure, a single penny is worth FAR more than the 5th year now of OVER $1 Trillion annual "budget" deficits of the Kakistocracy Regime of Obama.
Kurt - when you spout the "Kakistocracy Regime" you just look so stupid - it truly shows how little you know! But, keep it up - you're good for a laugh!
Look at the shiny penny? Is it really worth it?
How about, look at the dollar?
The dollar does not stretch like it used to. Is this due to new materials in the paper? No, the dollar isn't worth as much because of the expansion of the money supply. The almighty dollar doesn't buy the food and gas like it used too.
At least the penny will hold some scrap value.
just remember folks - those military actions - the UNFUNDED ones...SIX TRILLION POUNDED DOWN A SANDY RATHOLE
nah... da SHRUB has no blame in this devaluation... none (and I have a bridge for sale IF you are buying)
"Penny for your thoughts, nickel for your kiss, a dime if you tell me that you love me" will be updated to:
"Nickel for your thoughts, quarter for your kiss, golden dollar if you tell me that you love me."
Also, "Pennies from Heaven" will be re-titled "Nickels from Divine Afterlife Delusion-Construct."
Remember the trillion dollar coin Obama wanted, I'm sure he wanted his picture on that one. Maybe we can melt all of the pennies together and create his trillion dollar coin. At least no one would be able to steal it since it would weigh 2,755,778 tons
viknat - OMG you're really posting that? What a total idiot you are!
Yet again, ALL DAY sitting around on here posting your hate SS? Do you ever tire of calling everyone idiots?
Lordy, the shadow of your ass must weigh 30 lbs!
The score after one inning of play ........ Bycrackee 30, Speeking Insanity 0 ! LOL !!
well, apparently he's not afraid of being banned - he DOES tend to call 'em as he sees 'em
We should have dumped the penny a long time ago.
We should have dumped Obama when we had the chance ! Liberals upheld his fiscal insanity !!
You hit the nail on the head with that one Jim! And when I hear people mentioning a third term, it makes my head hurt.
Let's go all the way and quit making paper one dollar bills as well! Let's look at discontinuing nickels as well. Maybe a two cent coin and two dollar bills are the answer!.
The problem with killing the dollar bill is that nobody in the consumer world really wants to do it. We have about $2 billion in brand new, uncirculated golden dollar coins sitting in vaults of the U.S. Mint. Nobody wants them. Production of future dollar coins has been slashed down to just enough to accomodate the collector market.
That's because the idiots who designed them made them look too much like quarters. Bring back a coin that looks like the old silver dollar and watch everyone accept them with open arms (especially if they're lightweight).
make them out of ALUMINUM alloy?
buck bills have a VERY limited lifespan - probably 2 or 3 months. We HAVE the TWO (just not widely used) but even it doesn't make much sense (but handy to stick in a stripper's G-string - yeah I know - I have this hang up on strippers and G-strings)
It costs two cents for every penny made. So get rid of the copper in it. We still need the penny and it could be made of a very inexpensive material. Obama would love to get rid of the penny, just think how the money adds up after the penny is gone, as a matter of fact I would like to see Obama gone.
Please kill the penny. And the nickel and the dime also.
we need the intermediate coins right now - the penny, no - just a waste of money to make it. change the formulation of the nickel - take it to stainless. IF they want to, eliminate the half as well - about the only place they seem to be is in various casinos.
Eliminate the penny, round all transactions up to the nearest nickel and use the difference to pay down the debt. Two birds with one stone.
Good idea, but as long as DC is in charge, they will eliminate the penny, round all transactions up to the nearest nickel and use the difference to start up a new entitlement that we don't need and can't afford.
Neil-thanks. That was my wife's idea. I think congress could craft a bill requiring the revenue to be used to pay down the debt. I think the financial sector would have a problem with this.
round UP round DOWN not only UP. Remember one thing - the sales tax (state tax) is paid on the GROSS - the numbers if rounded up only provide free money to the merchant. Rounded both ways provides a "net of zero" beyond what is DUE
Geesh, more bobble heads parroting Rush Limpbals talking points.
Don't know why I waste my time opening this Fox Boobs generated nonsense non-news.
He helped kill the economy so why not...
He has pretty much destroyed most of the rest of the economy why not finish the deal and melt down the pennies.
Side effect...Chicago passed a 1 cent tax on soft drinks a few years back. The machines don't take pennies, so the price went up 5 cents. City made a penny, vending machine merchants made 4 cents.
A 1% increase in the sales tax will result in an extra 4 cents being added...heaven forbid that money paid to the government would ever be allowed to be rounded DOWN.
When the Canadian penny went away this year, stores raised the price of somethings by 50 cents or more to cover the time when they have to round a perches up so they do not lose money.
Just wait until people in the US start seeing these types of increases... The penny saves the common man more then everyone thinks.
OK - so go buy a 6-pack at the store - that 6 cents will round DOWN to 5. Sheesh - some people...
QE - the penny is a waste - not valuable, costs more to make than it's worth and sits around in piggy banks because it takes so many to have enough to DO anything - I glue mine to flower pots to keep out the slugs. Spring is coming and time to get some epoxy and start gluing THE METAL IS WORTH MORE THAN THE COIN VALUE - EVEN THE ZINC PENNY
BTW - that's where the major resistance originates - the ZINC INDUSTRY
put a fork in it
OK - so go buy a 6-pack at the store - that 6 cents will round DOWN to 5. Sheesh - some people...
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Yeah, and when something costs 1.73 cents, the store rounds UP to the nearest 5 cents, the store loses 2 pennies for the round out. Sheesh- some people...
That money they lose, a few cents here and a few cents there can and will add up. They can not count on the number of rounded down purchases to balance the rounded up perches. The stores DO NOT adjust prices to multiples of 5, they just raise some prices to offset the potential loss.
Of course they can count on the number of rounded down purchases to balance the rounded up purchases. First off, if prices are random, it will happen automatically. If not, they can fix it any way they want because they set the prices.
Yes, please get rid of the penny. Keeping it is pennywise and pound foolish.
I go to the store every day in a country with no penny ( as of this year ). What you say is false and the stores raised prices because of that vary uncertainty. Unless you live in a country that has already done away with the penny, you have no idea at all.
It just got killed here (Canada), so it's not as though the US has to go far to figure out how to do it.
Is that good or bad? Do you like banker bailouts?
I like the one and two dollar Canadian coins. Maybe we should use them in the US?