by Pa Rock
Penny Pincher
The US Treasury, a subsidiary of the Trump Organization, announced yesterday that it will quit making pennies early next year. The treasury has placed its last order for the metal blanks used to make pennies, and when when they run out of those, the penny will stop being produced and quickly fade from our commerce system.
I lived on Okinawa for two years a little more than a decade ago, and there the military had already phased out the use of pennies in all of its local commerce like the Base Exchanges and the food shops on the military bases. When you made a purchase, the total price was rounded up or down to the nearest nickel. Pennies were never given or taken in change, and the US banks on base did not handle them. Rounding up or down to the nearest nickel was an easy system to understand and navigate, and the transition nationwide will probably be relatively easy. If it is not, expect Fox News and Trump to blame the entire situation on Biden.
Apparently each penny in circulation now costs four cents to make, so Trump could be mandating it as a smart economy measure. But since Donbo is more about spending public money (birthday parades, weekly golf outings, living large, etc) than he is about saving it, I doubt the economics of the matter was his first consideration. I suspect is was 'Lincoln envy,' and that Trump has plans to eventually place himself on some, most, or all US coinage and currency. Look for MTG or someone as smart as her to soon introduce a bill in Congress to that effect.
Until then, spend 'em while you got 'em!
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