Even Thomas Jefferson knew that the time to say “Enough!” comes in a person’s life and that standing up to the nonsense and saying “I’m mad as Hell and I’m not gonna to take this anymore!” would be a reality.
In the news today is a story about how America keeps minting coins that no-one wants to use. The coins are the presidential dollar coins and were authorized by law. And of course, what the law says to do, the government does. According to the report, the US has a stockpile now of $1.1 billion in presidential coins because Americans simply don’t want to use them. And the mint keeps making more. It’s expected that the stockpile will grow to $2 billion by 2016 and guess what? The government pays for all of that storage and is even in need of more space!
That’s after the government spent $30 million to help promote the coins—a failed exercise in driving interest in the coins beyond collectors and hoarders. The effort to promote the Sacagewea dollar coin ran up a bill of $67 million over three years before this current program began.
So wonder why it’s time to say “Enough!” and get mad?
Washington is trying to figure out how to stimulate the economy, minting billions of dollars in coinage that is going into storage because no-one wants to use the dollar coin, and on top of that, the government is spending millions to promote a lost cause.
Sounds as if Congress could save us about $2 billion dollars by simply repealing the law and stopping the coins series. Quite frankly, I’m not eager to have a Hoover dollar coin anyway. And since living people can’t be on a coin, we’d have to jump from Gerald Ford to Ronald Reagan and stop there anyway unless someone dies between now and the time we get that far in the series.
And it’s simply more expensive to produce a coin (metal, die, wrappers, weight, etc) than it is to produce paper money, even though the coin lasts far longer.
Think back to the Susan B Anthony dollar or even further back to the Eisenhower dollar—you know, those really large “silver dollar” sized coins that felt like money. Even then, it was a bad idea so why are we still making them?
Simple answer: Our government spends money out of a need to continue pulling revenue from tax payers lest we regain the right to more of our money and are later more reluctanct to give it up again. It’s the typical “use it or lose it” budget mentality that has gotten us to the point where the government exists to keep itself in existence.
Want to stimulate the economy? Want to promote the use of the dollar coin?
Get the coins out of storage and give them out to Americans—literally hand them out for free—and let us have them tax-free. You’ll see spending in this country increase even if it’s only at Dollar General!
Not that Washington would ever do that, but you know, they’d be stupid enough to spend millions to further study the problem, millions more to create and promote an Office of Dollar Distribution (ODD) with too many employees getting paid too much to do very little—and spend millions on renting, furnishing, and outfitting the offices.
Then again, maybe they should do this—and pay everyone in dollar coins!