As Congress looks for opportunities to save money, the Government Accountability Office recommends that lawmakers start by looking at what’s in their own wallets.
It has been said that printing new dollar bills, which only have a lifespan of about 5 years, is just good money thrown after bad. A coin would last for around 30 years of service, producing a savings of around 4.4 billion dollars over that time. But then that only works out to around 146 million per year or .50 cents per person per year in total savings. Surly we can find other wasteful spending to cut in order to save all of that extra weight in our pockets.
Some would say. “If I lose one coin per year on my own, then we already pay for the government changing the dollar to a coin.”
Still others say. “If the government wants this change, they have to make it mandatory by removing dollar bills from circulation; the population as a whole will never voluntarily choose coins over bills.”
But then isn’t that having the mindset that government knows best, the population is there to serve the needs of the government? In other words a command and control style of socialized government telling its citizenry what they will have, and when or if they will like it?
Finding wasteful spending to save people money as well reduce the weight of their tax bills and the weight in their pockets should have high priority. Take all of the wasted money spent on green energy over the last 4 years. Some 90 billion dollars on companies that are now out of business today, Bankrupt!! That works out to $270 dollars per person wasted. Over that same 4 years it works out to be $67.50 of lost coins. Sadly that just one other wasted government program out of the many programs protected by the various government providers of pork spending.
Certainly we could find other waste to cut then providing a forum to debate whether we will lose the paper dollar or not, at such a small return to us all at this time? Think of the savings of not having to write those checks for $67.50 for bankrupted companies, the same amount of money would save the dollar for another 135 years.
Should we change our paper dollars sound, to the sound of loose change in our pockets?