Welcome to the APBWeb.
Results 1 to 5 of 5
  1. #1
    lewisipso's Avatar
    lewisipso is offline Injustice/Indifference/In God we trust
    Supporting Member Lvl 3
    Verified LEO
    Super Moderator
    Join Date
    Rep Power

    Eliminating $1 Bills Could Save Billions

    Washington has come down with a case of fiscal fever as the Obama administration proposes everything from spending freezes on domestic programs to selling off unused government property to bring the budget back in line. Now, one study argues that the government can save billions of dollars simply by making a change to the currency itself.

    Earlier this month, the U.S. Government Accountability Office issued a formal proposal to the Treasury and Federal Reserve noting that if it eliminated the $1 bill and replaced it with the $1 coin, the country could save roughly $5.5 billion during the next 30 years. The reason, according to the agency's report, is that dollar bills have a shorter lifespan than dollar coins because they wear much faster, which in turn requires the government to spend more to print new bills.

    The GAO estimates that phasing out dollar bills in favor of coins would require a four-year transition period, during which the government invests in the new currency, but following that, the government would save an expected $522 million each year from the change.

    Unfortunately, as the GAO notes, there is one problem with the plan: When given a choice between dollar coins and dollar bills, Americans always choose bills.

    eliminating-1-bills-could-save-billions: Personal Finance News from Yahoo! Finance

    Well of course. Have you ever tried folding a coin? Besides a coin won't stay in the strippers G string.
    Do not war for peace. If you must war, war for justice. For without justice there is no peace. -me

    We are who we choose to be.

    R.I.P. Arielle. 08/20/2010-09/16/2012

  2. #2
    MacLean's Avatar
    MacLean is offline O/R Gun mod
    Verified LEO
    Super Moderator
    Join Date
    Washington State
    Rep Power
    Quote Originally Posted by lewisipso View Post
    Besides a coin won't stay in the strippers G string.
    Seen some it would.
    I'm your huckleberry...

    Quemadmoeum gladis nemeinum occidit, occidentus telum est!

    You can be the weapon, and the gun in your hand is a tool - or the gun is a weapon and you are the tool.

    I was looking for a saint who was a devil of a lover,
    but every girl I found was either one way or the other...

  3. #3
    Xiphos's Avatar
    Xiphos is offline I Void Warranties
    Verified LEO
    Super Moderator
    Join Date
    Rep Power
    The $1 bill will be worthless anyway if we keep printing money to pay debt.
    Pleasing nobody, one person at a time.

    That which does not kill me, better start fucking running.

    If I lived every day like it was my last, the body count would be staggering.

    I intend to go in harm's way. -John Paul Jones

    Hunt the wolf, and bring light to the dark places that others fear to go. LT COL Dave Grossman

  4. #4
    Odd's Avatar
    Odd is offline Cosmonaut Trainer
    Supporting Member Lvl 3
    Join Date
    Rep Power
    Approved, NEXT!

    Sure it only comes out to 60 per citizen for each of those 30 years. Likely the conversion costs business incur, and pass to consumers, from replacing cash register drawers alone will wipe out any savings. We can talk about how 30 billion is only a few days of funding (insert program in the news), or how many children could be saved by (insert program in the news) or any other irrelevant comparison. We can even point out the public doesn't like it and debate about the pros and cons. We've done that enough times already. Approved, NEXT!

    The real cost isn't in doing a new study every couple years to update the PowerPoint presentation. The real cost is we talk about this, and countless other inconsequential costs over and over and then some more while ignoring real issues. If the fastest way to get through these piddling trivialities is to set the bureaucrats in charge of promoting them to actually doing them, then fine, all approved, get these non-issues out of the inbox.

    The economic pillar of this nation is being melted into Velveeta by dragons, foreign and domestic, and the Government Accountability Office is wasting time by proposing we discuss whether or not to slay a mouse. Enjoy your mouse pot-pie, but first bring us something worth the effort of killing.

    Surprise me. NEXT?

  5. #5
    Second Chance's Avatar
    Second Chance is offline Be the last one standing
    Supporting Member Lvl 1
    Join Date
    Phoenix, Az.
    Rep Power
    Quote Originally Posted by lewisipso View Post
    Besides a coin won't stay in the strippers G string.
    If this happens, I will need a new hobby!!! ;-)
    Swamp Mafia

    The only thing necessary for the triumph of evil is for good men to do nothing.
    ~Edmond Burke

    Certainly there is no hunting like the hunting of man and those who have hunted armed men long enough and like it, never really care for anything else.
    ~Ernest Hemingway

    Follow me on twitter.........http://twitter.com/SecondChance122

    Disclaimer: The opinions given in my signatures DO NOT reflect the opinions, views, policies, and/or procedures of my employing agency. They are MY PERSONAL OPINIONS and I accept sole responsibility as such.



Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Tags for this Thread


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts