Tuesday, June 28, 2011

Senator Brown Supported Wasteful Coin Dollar Program

NPR's story, $1 Billion That Nobody Wants, details a ill-conceived program voted on by Senator Brown that has to date resulted in $300 million of waste.

According to the Congressional Budget Office, the legislation should have, "decrease[d] direct spending by $34 million over the 2006-2015 period", but for the small detail that noone wants to carry around heavy dollar coins to conduct their transactions with. Adding injury to insult, the legislation was written in a way that requires the U.S. Mint to keep manufacturing the coins even though there's no demand for them.

How's this for an idea, we ship the $1 billion in coins over to China and reduce our debt of almost $900 billion.

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