This is an update to a previous post about how our government wastes taxpayer money on creating money, in this case on dollar coins no one wants or uses.
Now ABC News is on the case (thought they got it from NPR), reporting on how billions are wasted on those dollar coins that end up sitting in Federal Reserve vaults.
While the report points the finger at legislation that mandated the minting of the coins, specifically the Presidential series coins, the blame is being laid in the wrong place, or on the wrong piece of legislation.
As I have written far too many times, the reason the dollar coin is unwanted is because Congress hasn't had the courage to do away with the dollar bill. As long as it is still in circulation the dollar coins will sit in those vaults, unused, unwanted, and costing the American taxpayers plenty.
Now ABC News is on the case (thought they got it from NPR), reporting on how billions are wasted on those dollar coins that end up sitting in Federal Reserve vaults.
While the report points the finger at legislation that mandated the minting of the coins, specifically the Presidential series coins, the blame is being laid in the wrong place, or on the wrong piece of legislation.
As I have written far too many times, the reason the dollar coin is unwanted is because Congress hasn't had the courage to do away with the dollar bill. As long as it is still in circulation the dollar coins will sit in those vaults, unused, unwanted, and costing the American taxpayers plenty.
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