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Call for change: Lawmakers push bill to switch to $1 coin
FoxNews.com ^ | 3/22/2012 | na

Posted on 03/23/2012 12:47:05 PM PDT by Ron C.

Capitol Hill lawmakers want to change the color of money amid growing concerns about the federal deficit and the constant pressure for Washington to live within its means.

The House and Senate each have introduced legislation that would replace the dollar bill with a $1 coin.

“Change can be difficult,” Sen. Mike Enzi, R-Wyo., said. “But doing things as we’ve always done has contributed to our debt. We've got to latch on to any reasonable handhold we can find to climb out of this hole.”

This is not the first time Washington has considered eliminating the paper dollar, which became part of the U.S. currency during the Lincoln administration in the early 1860s.

The Government Accountability Office has examined the issue five times over the past two decades as a way to help reduce government spending, each time concluding the switch would save from roughly $200 million to $500 million, said Enzi.

(Excerpt) Read more at foxnews.com ...


TOPICS: Editorial; Extended News; Government; News/Current Events
KEYWORDS: coins; congress4inflation; congress4themselves; congressvsamerica; currency; money; stupidity
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To: archy
'We've already got a coin equal to the value of a Federal Reserve Note paper "dollar" bill. It's called a "nickel."'

LOL - now THAT is the best laugher on the thread so far!

41 posted on 03/23/2012 1:23:26 PM PDT by Ron C.
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To: Ron C.
The House and Senate each have introduced legislation that would replace the dollar bill with a $1 coin.

They want us to get used to a devalued dollar by making it pocket change.

42 posted on 03/23/2012 1:23:55 PM PDT by EGPWS (Trust in God, question everyone else)
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To: Owl558

“The People” reject the dollar coin or the merchants reject it?


43 posted on 03/23/2012 1:25:10 PM PDT by R. Scott (Humanity i love you because when you're hard up you pawn your Intelligence to buy a drink)
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To: ElkGroveDan
we need to abolish the penny, nickel and dime now that inflation has rendered them of very little worth.

Interesting choice of coins to eliminate. The last time the U.S. removed the lowest value coin was in 1857 when the half cent was eliminated. That coin would be worth 11¢ now, so the lowest coin remaining had a current value of 22¢.

44 posted on 03/23/2012 1:25:19 PM PDT by KarlInOhio (You only have three billion heartbeats in a lifetime.How many does the government claim as its own?)
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To: DuncanWaring

What we need to do is eliminate CONGRESS! Start all over again with part-time government that meets for a minimum of three months per year, and make them live in the district they supposedly represent the remaining 9 months a year!


45 posted on 03/23/2012 1:26:40 PM PDT by Ron C.
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To: Owl558

The difference is that this time they would STOP printing paper dollars and continue to remove them from circulation as they wear, as they do now. They have warehouses full of the Presidential dollars to start and may even have warehouses of Susan B. Anthony dollars and Sacajaweau? dollars. Unless they are complete idiots and try again to get us to use dollar coins without stopping the paper dollar. I think we’re on the verge of an inflationary trend that will cause us to not need pennies, nickles or dimes, just quarter and dollar coins and 5 dollar bills.


46 posted on 03/23/2012 1:28:18 PM PDT by duffee (NEWT 2012)
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To: Owl558

The difference is that this time they would STOP printing paper dollars and continue to remove them from circulation as they wear, as they do now. They have warehouses full of the Presidential dollars to start and may even have warehouses of Susan B. Anthony dollars and Sacajaweau? dollars. Unless they are complete idiots and try again to get us to use dollar coins without stopping the paper dollar. I think we’re on the verge of an inflationary trend that will cause us to not need pennies, nickles or dimes, just quarter and dollar coins and 5 dollar bills.


47 posted on 03/23/2012 1:28:29 PM PDT by duffee (NEWT 2012)
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To: KarlInOhio

I would argue that the majority of people will not even stop to pick a penny up off the ground. It’s not worth the effort or time.


48 posted on 03/23/2012 1:28:29 PM PDT by the_devils_advocate_666
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To: Ron C.
They're talking dollar coins and we're talking the trillions of dollars that we're in debt.

Damn...just damn

49 posted on 03/23/2012 1:30:05 PM PDT by Sacajaweau
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To: Ron C.
“Change can be difficult,” Sen. Mike Enzi, R-Wyo., said. “But doing things as we’ve always done has contributed to our debt. We've got to latch on to any reasonable handhold we can find to climb out of this hole.”

You want change, you patronizing, contemptuous RINO jerk? STOP SPENDING MONEY.

50 posted on 03/23/2012 1:31:48 PM PDT by Talisker (He who commands, must obey.)
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To: DakotaGator
"...politically correct worthless round of metal that will wear holes in our pockets."

(sigh) Yep, the day we're pushing around wheelbarrows with stacks of our money just to buy a loaf of bread can't be that far away.

51 posted on 03/23/2012 1:32:34 PM PDT by Ron C.
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To: Ron C.
LOL - now THAT is the best laugher on the thread so far!

You're aware, I hope, that the nickel is actually made of a mostly-copper alloy known as cupronickel, and accordingly, each coin is worth well more than $.05 for its copper content.

Accordingly, there's a plan to replace the current issue to rrecover their copper content, and circulate a stainless steel "nickel" worth far less than a penny instead.

So some folks are hanging on to the real thing while they're still available.

52 posted on 03/23/2012 1:33:16 PM PDT by archy (I'd give my right arm to be ambidextrous!)
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To: the_devils_advocate_666
"people will not even stop to pick a penny up"

Funny you should say that - I pick them up, lots of them, at the market - along with dimes and nickles that people literally toss on the floor after taking them out of the change hopper.

In a typical week I pocket a several dollars that I only have to pick up off the floor, the sidewalk and the parking lots.

53 posted on 03/23/2012 1:36:55 PM PDT by Ron C.
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To: the_devils_advocate_666

I always pick up pennys.

Last week I picked up a dollar

The fallacy is that money is now electronic zaps. Everyone should be have a card. A debit card from bank or a credit card or a Walmart card or one of those welfare cards.

Deposits are made to the card. Then there is very little need for money

I rely on cards entirely and about the only money I spend is paying for my haircut.


54 posted on 03/23/2012 1:38:49 PM PDT by bert (K.E. N.P. +12 ..... Crucifixion is coming)
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To: archy
I remember the day when our money was the most valuable on the planet, and everyone else on earth wanted some of it.

Now, China's money is the most sought after.

55 posted on 03/23/2012 1:40:11 PM PDT by Ron C.
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To: archy

BTW - thanks much for the link!


56 posted on 03/23/2012 1:41:12 PM PDT by Ron C.
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To: Owl558
More evidence that politicians don’t give a rat’s butt about what the people want.

What we WANT doesn't matter.

They know what we NEED. That's why we elected them.

/sarc

57 posted on 03/23/2012 1:42:08 PM PDT by newgeezer (It is [the people's] right and duty to be at all times armed. --Thomas Jefferson)
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To: Talisker
“I came to the House as a real deficit hawk, but I am no longer a deficit hawk. I’ll tell you why. I had to spend the surpluses. Deficits make it easier to say no.” –Rick Santorum.-- I must be stupid but this doesn't really make sense to me.
58 posted on 03/23/2012 1:44:39 PM PDT by duffee (NEWT 2012)
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To: bert
"I rely on cards entirely"

Just what gov really wants - and a precursor to embedded chips installed on the back of your hand.

59 posted on 03/23/2012 1:45:05 PM PDT by Ron C.
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To: Ron C.

Who cares? A $1 coin is just as worthless as a $1 bill.


60 posted on 03/23/2012 1:45:45 PM PDT by Georgia Girl 2 (The only purpose of a pistol is to fight your way back to the rifle you should never have dropped.)
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