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This is one of the few things that Trump has done that isn’t stupid. I don’t agree with the way it got done. The Congress has passed a law that says the Treasury Department has to mint pennies. This will stand until the courts or congress catch up with reality.
I suspect that group that will most likely challenge this in the courts, or press a case with Congress is going to be the zinc and copper mining lobbyists. At least according to the NY Times, that is the reason that we still have peenies years after most other countries have dropped the coin.
We need to limit the flow of money to politicians and long before now we might have solved two problems at the same time, pennies, and Trump.
it’s eminently stupid because it’s Congress’s job. They could do this in a day if they wanted. Republicans have full control. Why a co-equal branch of government has decided to be a lap dog to a wannabe king is beyond me.
It’s amazing how something so obviously wasteful, producing a penny that costs more than it’s worth, has continued for so long simply because politicians lacked the will to act. Congress has had decades to fix this issue, yet it took Trump, once again, to do what should have been done ages ago. The numbers speak for themselves: over $85 million wasted last year alone on minting pennies. And let’s not forget, the nickel is even worse!
Predictably, NYT readers are completely missing the point. The Times wants to make this about Trump overreach instead of focusing on the real issue: why has Congress ignored this problem for years? Because, as usual, they’re beholden to special interests in this case, the zinc and copper lobbies. That’s why we’ve kept minting these useless coins while other nations, like Canada, moved on over a decade ago.
To those complaining about how this was done spare me the faux outrage. If Congress wanted to act, they could’ve done it years ago, yet they haven’t. If they want to challenge it now, let them explain why wasting taxpayer money is a hill they want to die on. Meanwhile, anyone still reading the NYT to “understand” what’s going on in this country is at a serious disadvantage. They’re being fed narratives instead of facts.
At the end of the day, this is just another example of Trump cutting through bureaucracy and delivering results, while his critics who’ve done nothing to fix the problem—whine about process. And that is my 2 cents worth, or actually 7.4 cents!!
The NY Times did report on “the real issue” a few years ago. That’s why I know about the effect of lobbying dollars on this particular issue.
As for Trumps overreach, you’d have to be completely ignorant of how the constitution and the founding fathers envisioned the government is supposed to function. You don’t need a newspaper to tell you this is not the way the federal government works. Congress has indeed broken their oath and are making themselves irrelevant while help shape an autocrat.
Without a functioning congress we have lost what little say in government. And again back to my final point, dark money and unlimited lobbying money is destroying representative democracy.
Wrong again Dan M. The U.S. Department of the Treasury falls under the executive branch of the federal government. It is responsible for managing government revenue, producing currency, collecting taxes, and overseeing financial institutions. The department is led by the Secretary of the Treasury, who is a member of the President’s Cabinet, and as head of the executive branch he has the right to make changes.
This is something that should have been done a long time ago. How many of the pennies go into hoarders’ stockpiles? Also, many businesses have a penny dish sitting at the checkout to eliminate getting 4 pennies as change.