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 Replies: 62 / Views: 5,560 |
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Valued Member
United States
446 Posts |
Re the title of the post....the government doesn't save money. The government spends it. If more money becomes available because of a saving here, it will be used to spend money there, and more will be spent because they'll assume that more of it's coming their way.
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Pillar of the Community
United States
2273 Posts |
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Re the title of the post....the government doesn't save money. The government spends it. If more money becomes available because of a saving here, it will be used to spend money there, and more will be spent because they'll assume that more of it's coming their way. The way Congress runs the economy is like trying to fill up a leaky bucket. There are holes in it everywhere and the holes near the top are the largest of all. The faster money goes in the faster money is wasted. The losses on the penny and dollar is just a tiny little leak right on the bottom of the bucket and don't amount to a lot but these leaks are "structural" and seen by all. This steady drip drip drip of waste sets the tone of the entire US economy and impacts the rate at which money can be pumped into the bucket because an inefficient currency system suppresses the economy. Time don't fly, it bounds and leaps.
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Moderator
 United States
189340 Posts |
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...the American people have NEVER as a unified nation supported the dollar coin. That is only because the more familiar option remained available. Get rid of the one dollar note and the people will adjust. We will adapt. |
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Pillar of the Community
Canada
2805 Posts |
I intercepted a scratchy news segment from Spokane (if you live in Edmonton, you have at least one TV channel coming out of Washington - try it) making fun of the American dollar coin. The newscaster pulled out a bimetallic Euro and went on about how it had a distinctive appearance, unlike the new small dollars. Given the similarity of the golden dollar to the loonie, I felt personally offended (although the loonie does have a distinctive 11 sides...). Also, one of my friends found a beat-up Grant dollar in a rental car trunk in Quebec. So they are circulating... just not to the right places...  |
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Valued Member
United States
253 Posts |
CNN Headline News broadcast a short segment yesterday morning about the $1 coin and how replacing the paper dollar with it would save the government millions over future years. The online article can be found at this link: http://money.cnn.com/2013/07/26/pf/..ml?hpt=hp_t3The paper dollar will probably be removed from someday, not sure whether it will be sooner or later. |
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Moderator
United States
189340 Posts |
Thank you for the link, paparet.  |
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Valued Member
United States
410 Posts |
Quote:How many of you have seen Sac's circulate. How about getting a Presidential dollar in change --- hasn't happened here. I haven't received a dollars coin in change since Walmart stopped using them. I do pay with them and many cashiers act as if they have never seen one before. |
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Valued Member
United States
324 Posts |
I remember a TIME magazine article studied this and concluded the savings for the taxpayer is $700 million per year to drop the paper dollar and use the coin. The real shame is for all the people who want government to waste less will not do a simple thing like use the coin instead of the paper dollar. They like to brag how they are fiscal conservative but will not stop using the paper dollar bill! I do try to use the coin in self serve checkouts and live cashiers. Our city parking meters take them. The banks are awful about making them available.
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Valued Member
United States
446 Posts |
The trouble is, is that in an era of one trillion dollar plus budgets, $700 million is like reducing the volume of water in a swimming pool by one beer bottle. You know yourself that you reduced the amount of water in the pool but no one else will notice and what's worse is they won't care.
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Pillar of the Community
Canada
2805 Posts |
And so you should give up trying to fix things in one of the few ways you can actually accomplish something?
Sure, it's a small difference compared to this or that, but that's a nihilistic way of thinking.
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Bedrock of the Community
13014 Posts |
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And so you should give up trying to fix things in one of the few ways you can actually accomplish something? Its not that you should give up, its just that its really not the problem. If thats the only thing thats going to be done it doesn't really make any difference. Then throw on the fact that more than likely that money will just be spent on something else creating no real savings and you quickly come to the conclusion that when it comes to debt this doesn't crack the top 50 or 100 things where the immediate focus needs to be. Its like trying to reattach a limb with duck tape, it may look like you did something but you didnt address any of the important underlying problems of getting it back on. |
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Moderator
United States
189340 Posts |
But you have to start somewhere, so you may as well start here. Things will be different when I am elected dictator.  |
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Bedrock of the Community
13014 Posts |
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Things will be different when I am elected dictator. It must be a different country your talking about since I've already been groomed for the position when it becomes available  |
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Moderator
United States
189340 Posts |
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It must be a different country your talking about since I've already been groomed for the position when it becomes available Yes, I am talking about the United States of America. I am well aware that you will be in control of Vanuatu very soon.  |
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Valued Member
United States
324 Posts |
DCM, you have made the false assumption that my point is we should use coin to solve the trillion+ dollar federal deficit. No, that's a contentious economic and political challenge. My point is we can become less wasteful and save $700 million with little downside risk other than a few grumblers who don't accept change (clever pun). It has been a failure of leadership for many years now. It's asinine we don't eliminate the paper dollar.  |
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Replies: 62 / Views: 5,560 |
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Posted 07/29/2013 11:08 am
