It doesn’t take much of an imagination to picture Congress coming up with an idea as silly as the one reported by NPR this morning. The plan to slap together a billion pieces of cheap metal stamped with the likeness of former presidents certainly demonstrates the arrogance we’d expect from our representatives. Perhaps they’ll come up with some late-night infomercials to help prevent this stuff from piling up more than it already is in the Federal Reserve vaults.
“In the past four years, the U.S. government spent $300 million making a billion coins that no one wants — the result of a Congressional mandate to mint $1 coins bearing the likeness of each U.S. president.”
Great. I’m glad our government is so efficient that it only costs them $300 million to create $1 billion.