Which presidential hopeful is talking about this?

[frigidweirdo]

Get rid of the dollar bill, potentially saving up to $13.8 billion dollars of taxpayers money?

I haven't heard a single candidate mention this easy way to save so much money. Do they actually care about saving money or not?

Dollar Coin Alliance Switching to the dollar coin will save billions

"The Dollar Coin Alliance strongly supports the introduction of the Unified Savings and Accountability Act (USA Act). This legislation, introduced today in the House and the Senate features provisions that would implement at least $57 billion in cost savings throughout the federal government. Included in the USA Act is a currency modernization provision that eliminates the dollar note and replaces it with the more sustainable and efficient dollar coin, generating at least $4.4 billion and up to $13.8 billion in taxpayer savings.

The USA Act, introduced by Senators John McCain (R-AZ) and Mike Enzi (R-WY) in the Senate and Congressman Robert Pittenger (R-NC) and Congresswoman Kyrsten Sinema (D-AZ) in the House, combines opportunities to reduce waste and create efficiencies throughout the federal government, many of which are based on the Government Accountability Offices’ (GAO) recommendations.

“This legislation recognizes the critical need for budget-saving measures such as currency modernization,” said Former Congressman Tim Penny, Honorable Co-Chair of the Dollar Coin Alliance, “Reducing waste and inefficiency is always the right decision. Creating savings for taxpayers and funding for necessary programs is a common sense plan both parties can get behind.”

Support for currency modernization and the dollar coin continues to grow in Congress. Earlier this year, Congress passed a budget resolution which allows the savings from currency modernization to be applied to budget items – a significant development as Congress struggles to find funding for critical programs such as the highway patch, repealing the medical device tax, or addressing any number of sequester concerns.

These recent achievements come after 24 years of the GAO recommending currency modernization. They estimate that the Federal government could save billions without raising a single tax or cutting a single program.

“During a time when everyone is squeezing the budget for potential savings, it’s important for Congress to look at the bills that are right in front of them,” said Former Congressman Jim Kolbe, Honorable Co-Chair of the Dollar Coin Alliance. “Modernizing currency is a common-sense solution that could result in up to $13.8 billion in U.S. taxpayer savings – and that’s something everyone should get behind.”

Businesses and the American people are ready to support the transition to the dollar coin and experience the significant benefits from currency modernization. Rasmussen reported in late 2012 that 61% of Americans favor the dollar coin after informed of the budget savings. Opinion pages across the nation support the switch to the dollar coin including The New York Times, USA Today, The Washington Post, The Chicago Tribune and U.S. News & World Report."

 

[P F Tinmore]

Will we still have to borrow them from the Fed?

 

[frigidweirdo]

But then you'll have to pay billions less to the Fed.... doesn't that sound nice?

Don't you wonder why none of them bother to pick up on this amazing money saving scheme?

Could it be that the powers that be don't think this is worthy of the people?

Hey, you're Republican, you care about abortion, guns and wars, and you, democrat, you're interested in welfare checks, gay people and stopping guns. There's no room for something SENSIBLE to be going on.

 

[Scorpion]

Mint $2 coins too.
Would newd fewer $1 coins.

 

[Toddsterpatriot]

Will we still have to borrow them from the Fed?

You borrow dollars from the Fed? Why? How?

 

[Toddsterpatriot]

Get rid of the dollar bill, potentially saving up to $13.8 billion dollars of taxpayers money?

I haven't heard a single candidate mention this easy way to save so much money. Do they actually care about saving money or not?

Dollar Coin Alliance Switching to the dollar coin will save billions

"The Dollar Coin Alliance strongly supports the introduction of the Unified Savings and Accountability Act (USA Act). This legislation, introduced today in the House and the Senate features provisions that would implement at least $57 billion in cost savings throughout the federal government. Included in the USA Act is a currency modernization provision that eliminates the dollar note and replaces it with the more sustainable and efficient dollar coin, generating at least $4.4 billion and up to $13.8 billion in taxpayer savings.

The USA Act, introduced by Senators John McCain (R-AZ) and Mike Enzi (R-WY) in the Senate and Congressman Robert Pittenger (R-NC) and Congresswoman Kyrsten Sinema (D-AZ) in the House, combines opportunities to reduce waste and create efficiencies throughout the federal government, many of which are based on the Government Accountability Offices’ (GAO) recommendations.

“This legislation recognizes the critical need for budget-saving measures such as currency modernization,” said Former Congressman Tim Penny, Honorable Co-Chair of the Dollar Coin Alliance, “Reducing waste and inefficiency is always the right decision. Creating savings for taxpayers and funding for necessary programs is a common sense plan both parties can get behind.”

Support for currency modernization and the dollar coin continues to grow in Congress. Earlier this year, Congress passed a budget resolution which allows the savings from currency modernization to be applied to budget items – a significant development as Congress struggles to find funding for critical programs such as the highway patch, repealing the medical device tax, or addressing any number of sequester concerns.

These recent achievements come after 24 years of the GAO recommending currency modernization. They estimate that the Federal government could save billions without raising a single tax or cutting a single program.

“During a time when everyone is squeezing the budget for potential savings, it’s important for Congress to look at the bills that are right in front of them,” said Former Congressman Jim Kolbe, Honorable Co-Chair of the Dollar Coin Alliance. “Modernizing currency is a common-sense solution that could result in up to $13.8 billion in U.S. taxpayer savings – and that’s something everyone should get behind.”

Businesses and the American people are ready to support the transition to the dollar coin and experience the significant benefits from currency modernization. Rasmussen reported in late 2012 that 61% of Americans favor the dollar coin after informed of the budget savings. Opinion pages across the nation support the switch to the dollar coin including The New York Times, USA Today, The Washington Post, The Chicago Tribune and U.S. News & World Report."

We tried dollar coins. Americans didn't use them. It was a big waste of money.
Get it? We lost money on dollar coins.

 

[P F Tinmore]

Will we still have to borrow them from the Fed?

You borrow dollars from the Fed? Why? How?

The US does not have its own money. It borrows it from the Fed which is not a government department but a private bank.

 

[Toddsterpatriot]

Will we still have to borrow them from the Fed?

You borrow dollars from the Fed? Why? How?

The US does not have its own money. It borrows it from the Fed which is not a government department but a private bank.

The Federal government doesn't borrow currency from the Fed. Why would the government need currency?
And the Fed is part of the government, not private.

 

[Scorpion]

Get rid of the dollar bill, potentially saving up to $13.8 billion dollars of taxpayers money?

I haven't heard a single candidate mention this easy way to save so much money. Do they actually care about saving money or not?

Dollar Coin Alliance Switching to the dollar coin will save billions

"The Dollar Coin Alliance strongly supports the introduction of the Unified Savings and Accountability Act (USA Act). This legislation, introduced today in the House and the Senate features provisions that would implement at least $57 billion in cost savings throughout the federal government. Included in the USA Act is a currency modernization provision that eliminates the dollar note and replaces it with the more sustainable and efficient dollar coin, generating at least $4.4 billion and up to $13.8 billion in taxpayer savings.

The USA Act, introduced by Senators John McCain (R-AZ) and Mike Enzi (R-WY) in the Senate and Congressman Robert Pittenger (R-NC) and Congresswoman Kyrsten Sinema (D-AZ) in the House, combines opportunities to reduce waste and create efficiencies throughout the federal government, many of which are based on the Government Accountability Offices’ (GAO) recommendations.

“This legislation recognizes the critical need for budget-saving measures such as currency modernization,” said Former Congressman Tim Penny, Honorable Co-Chair of the Dollar Coin Alliance, “Reducing waste and inefficiency is always the right decision. Creating savings for taxpayers and funding for necessary programs is a common sense plan both parties can get behind.”

Support for currency modernization and the dollar coin continues to grow in Congress. Earlier this year, Congress passed a budget resolution which allows the savings from currency modernization to be applied to budget items – a significant development as Congress struggles to find funding for critical programs such as the highway patch, repealing the medical device tax, or addressing any number of sequester concerns.

These recent achievements come after 24 years of the GAO recommending currency modernization. They estimate that the Federal government could save billions without raising a single tax or cutting a single program.

“During a time when everyone is squeezing the budget for potential savings, it’s important for Congress to look at the bills that are right in front of them,” said Former Congressman Jim Kolbe, Honorable Co-Chair of the Dollar Coin Alliance. “Modernizing currency is a common-sense solution that could result in up to $13.8 billion in U.S. taxpayer savings – and that’s something everyone should get behind.”

Businesses and the American people are ready to support the transition to the dollar coin and experience the significant benefits from currency modernization. Rasmussen reported in late 2012 that 61% of Americans favor the dollar coin after informed of the budget savings. Opinion pages across the nation support the switch to the dollar coin including The New York Times, USA Today, The Washington Post, The Chicago Tribune and U.S. News & World Report."

We tried dollar coins. Americans didn't use them. It was a big waste of money.
Get it? We lost money on dollar coins.

The government grafually has to take paper bills out of circulation.
It never did this.

 

[P F Tinmore]

Will we still have to borrow them from the Fed?

You borrow dollars from the Fed? Why? How?

The US does not have its own money. It borrows it from the Fed which is not a government department but a private bank.

The Federal government doesn't borrow currency from the Fed. Why would the government need currency?
And the Fed is part of the government, not private.

Not true. The Fed is a private banking cartel.

 

[frigidweirdo]

We tried dollar coins. Americans didn't use them. It was a big waste of money.
Get it? We lost money on dollar coins.

Tried? No, I don't remember any trying going on.

What I remember is them introducing dollar coins (again) and then those people with special interest in the company that makes the material for dollar bills making sure that dollar bills weren't withdrawn from circulation.

Every other country withdraws the bills after a while so people then use the coins. But not the USA, no, no, no, they have a govt incapable of doing anything properly.

So, to save BILLIONS of dollars, they have to A) be willing to let a company lose its contract for the material for the dollar bills B) get rid of the dollar bills and C) use all those coins they're hoarding.

But, again, it's a question of whether people want to save money or not.

 

[Toddsterpatriot]

Will we still have to borrow them from the Fed?

You borrow dollars from the Fed? Why? How?

The US does not have its own money. It borrows it from the Fed which is not a government department but a private bank.

The Federal government doesn't borrow currency from the Fed. Why would the government need currency?
And the Fed is part of the government, not private.

Not true. The Fed is a private banking cartel.

No. The Fed is owned by the US government.

 

[Toddsterpatriot]

We tried dollar coins. Americans didn't use them. It was a big waste of money.
Get it? We lost money on dollar coins.

Tried? No, I don't remember any trying going on.

What I remember is them introducing dollar coins (again) and then those people with special interest in the company that makes the material for dollar bills making sure that dollar bills weren't withdrawn from circulation.

Every other country withdraws the bills after a while so people then use the coins. But not the USA, no, no, no, they have a govt incapable of doing anything properly.

So, to save BILLIONS of dollars, they have to A) be willing to let a company lose its contract for the material for the dollar bills B) get rid of the dollar bills and C) use all those coins they're hoarding.

But, again, it's a question of whether people want to save money or not.

Tried? No, I don't remember any trying going on.

Yeah, the minted a bunch of Susan B Anthony dollars. No one used them.
Then they minted a bunch of Sacagawea dollars. Ditto.

those people with special interest in the company that makes the material for dollar bills making sure that dollar bills weren't withdrawn from circulation.

What company is that?

Every other country withdraws the bills after a while so people then use the coins.

I guess they did some polling and no one wanted to give up the dollar bill.

 

[Toddsterpatriot]

In 2012, the GAO reported that the switch would save the government a minimum of $150 million per year,

BFD.

 

[ScienceRocks]

Nah, dollars bills are easier to carry in your wallet.

 

[P F Tinmore]

Will we still have to borrow them from the Fed?

You borrow dollars from the Fed? Why? How?

The US does not have its own money. It borrows it from the Fed which is not a government department but a private bank.

The Federal government doesn't borrow currency from the Fed. Why would the government need currency?
And the Fed is part of the government, not private.

Not true. The Fed is a private banking cartel.

No. The Fed is owned by the US government.

 

[frigidweirdo]

Tried? No, I don't remember any trying going on.

Yeah, the minted a bunch of Susan B Anthony dollars. No one used them.
Then they minted a bunch of Sacagawea dollars. Ditto.

those people with special interest in the company that makes the material for dollar bills making sure that dollar bills weren't withdrawn from circulation.

What company is that?

Every other country withdraws the bills after a while so people then use the coins.

I guess they did some polling and no one wanted to give up the dollar bill.

Actually people did use them. I worked a summer in a theme park on the games section, we used them ALL THE TIME. Every transaction had to be made with a dollar coin, no matter what. Which meant we had LOADS of Susan Bs.

Minting a coin, however, doesn't imply trying. They made coins, they didn't do anything with them. That's not trying.

Which company? So you're telling me stuff and yet you don't know the situation at all?

The company is called Crane & Company and is from Massachusetts.

https://en.wikipedia.org/wiki/Crane_&_Co.

House GOP wants to cash out dollar bill TheHill

"
House Republicans have introduced legislation to retire the dollar bill and replace it with a mandated dollar coin.

A pair of senators, however, have introduced a competing measure to protect the paper dollar from, as they call it, the “unpopular $1 coin.”"

A pair of Senators. That would be two. And you can bet they're the Senators from Massachusetts too.

"But Massachusetts Sens. Scott Brown (R) and John Kerry (D) introduced a competing bill over the weekend, the Currency Efficiency Act. That bill is aimed at protecting the paper dollar from what the senators call a “massive overproduction” of the “unpopular $1 coin.”"

Oh, what a surprise. So, because of two senators from Massachusetts, the US continues to use the dollar bills, continues to use cotton based notes (the price of cotton increased by 50% in 2008) and does not remove them from circulation.

"“The $1 coin is misleading because it costs taxpayers so much more,” Brown said. “In fact, we have over $1 billion worth of extra $1 coins sitting idle in vaults, and that’s set to double over the next several years.”"

Typical misleading from a politician. YES, coins cost more to make. However coins also last decades longer. Look at your coins and look at your bills and see which last longer. Many really old coins have left circulation because they had silver in them, and are being hoarded. However I've picked up Buffalo Nickels and Lincoln cents from the 1930s in circulation, but not dollar bills. Most are quite new. A dollar bill lasts, on average, 5.8 years. Okay, so on average a bill from 2009 will be going out of circulation.
In 1999 they started the quarter program for states. You still get those. You still get quarters from the 1960s in circulation, and quite often too.

FRB How long is the lifespan of U.S. paper money

So, in the lifetime of one dollar coin, you'd probably have to make TEN or more bills. Clearly that then increases the cost of the bills. However because of the "you scratch my back and I'll scratch yours", two senators have managed to stop dollar bills going out of circulation because it's in their own interests.

The US citizens spends billions more dollars in order that a private company carries on doing well and keeps its contracts. Do you not think this is wrong?

 

[Toddsterpatriot]

Tried? No, I don't remember any trying going on.

Yeah, the minted a bunch of Susan B Anthony dollars. No one used them.
Then they minted a bunch of Sacagawea dollars. Ditto.

those people with special interest in the company that makes the material for dollar bills making sure that dollar bills weren't withdrawn from circulation.

What company is that?

Every other country withdraws the bills after a while so people then use the coins.

I guess they did some polling and no one wanted to give up the dollar bill.

Actually people did use them. I worked a summer in a theme park on the games section, we used them ALL THE TIME. Every transaction had to be made with a dollar coin, no matter what. Which meant we had LOADS of Susan Bs.

Minting a coin, however, doesn't imply trying. They made coins, they didn't do anything with them. That's not trying.

Which company? So you're telling me stuff and yet you don't know the situation at all?

The company is called Crane & Company and is from Massachusetts.

https://en.wikipedia.org/wiki/Crane_&_Co.

House GOP wants to cash out dollar bill TheHill

"
House Republicans have introduced legislation to retire the dollar bill and replace it with a mandated dollar coin.

A pair of senators, however, have introduced a competing measure to protect the paper dollar from, as they call it, the “unpopular $1 coin.”"

A pair of Senators. That would be two. And you can bet they're the Senators from Massachusetts too.

"But Massachusetts Sens. Scott Brown (R) and John Kerry (D) introduced a competing bill over the weekend, the Currency Efficiency Act. That bill is aimed at protecting the paper dollar from what the senators call a “massive overproduction” of the “unpopular $1 coin.”"

Oh, what a surprise. So, because of two senators from Massachusetts, the US continues to use the dollar bills, continues to use cotton based notes (the price of cotton increased by 50% in 2008) and does not remove them from circulation.

"“The $1 coin is misleading because it costs taxpayers so much more,” Brown said. “In fact, we have over $1 billion worth of extra $1 coins sitting idle in vaults, and that’s set to double over the next several years.”"

Typical misleading from a politician. YES, coins cost more to make. However coins also last decades longer. Look at your coins and look at your bills and see which last longer. Many really old coins have left circulation because they had silver in them, and are being hoarded. However I've picked up Buffalo Nickels and Lincoln cents from the 1930s in circulation, but not dollar bills. Most are quite new. A dollar bill lasts, on average, 5.8 years. Okay, so on average a bill from 2009 will be going out of circulation.
In 1999 they started the quarter program for states. You still get those. You still get quarters from the 1960s in circulation, and quite often too.

FRB How long is the lifespan of U.S. paper money

So, in the lifetime of one dollar coin, you'd probably have to make TEN or more bills. Clearly that then increases the cost of the bills. However because of the "you scratch my back and I'll scratch yours", two senators have managed to stop dollar bills going out of circulation because it's in their own interests.

The US citizens spends billions more dollars in order that a private company carries on doing well and keeps its contracts. Do you not think this is wrong?

The company is called Crane & Company and is from Massachusetts.

Crane & Company? Well, shit, they're right up there with GE, Goldman Sachs and the Fanjul Brothers when it comes to government influence.

The US citizens spends billions more dollars in order that a private company carries on doing well and keeps its contracts.

I suspect it has more to do with Americans preferring dollar bills to dollar coins.

 

[frigidweirdo]

Nah, dollars bills are easier to carry in your wallet.

Hence why every first world country in the world's smallest bill is much higher than the dollar bill.

The UK has 5 pounds which is worth $7.8
The Euro has 5 Euro note which is worth $5.4

And the US a $1 bill.

 

[frigidweirdo]

The company is called Crane & Company and is from Massachusetts.

Crane & Company? Well, shit, they're right up there with GE, Goldman Sachs and the Fanjul Brothers when it comes to government influence.

The US citizens spends billions more dollars in order that a private company carries on doing well and keeps its contracts.

I suspect it has more to do with Americans preferring dollar bills to dollar coins.

They've managed to make sure US policy doesn't change on their own interests for a long time now. I'm not sure what the point of you writing what you did though.

No, it has nothing to do with Americans preferring dollar bills to coins.

EVERY COUNTRY which has introduced larger coins has done so by taking the bills out of circulation. It's how you do it. You don't give people a choice.

You ask people which would they prefer, to spend X amount on their dollar or spend X + $billions on their dollar and see which they say.

The WHOLE reason it hasn't gone out of circulation is because the US govt WON'T take it out of circulation.

They tried in 2011, they tried in 2014, they're trying again in 2015 and every time the scratch your back scratch mine means they don't get taken out of circulation.