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MONEY: Dollar coin is fiscally responsible

Letter by Dave Kusske, University Place on Oct. 19, 2011 at 9:23 am with 8 Comments »
October 19, 2011 11:09 am

The issue raised by the Los Angeles Times editorial, “Dollar coin? It’s time” reprinted in The News Tribune (10-18), is a microcosm of the multitude of fiscal issues facing our dysfunctional federal legislative branch.

If ever there was an economic no-brainer, it would be a decision to save $5.5 billion over 30 years by eliminating the $1 bill. Admittedly, this is chump change when compared to the $1 trillion-plus being added annually to our gross national debt. But it is a small step in the right direction.

How can our legislators fix our ballooning entitlement programs, or the need to cut $1.2 trillion from the budget by Dec. 23 as required by the Budget Act enacted this summer, if they can’t tackle a small but important issue like this?

I challenge our state’s congressional delegation to support and pass such a measure. We’ll all hate it at first, but it’s like the bad taste of good medicine which provides lasting relief. Let’s revive the notion of making a tough, unpopular decision for the greater good. This also helps build momentum toward reversing years of fiscal irresponsibility.

Leave a comment Comments → 8
  1. stetsonwalker says:

    In case you have been sleeping, the consumer of money (us) have time and time rejected the dollar coin.

  2. Remove the penny and the dollar bill from circulation and replace them with the dollar coin and the $2 bill.

  3. Try to get past a TSA agent with 5 one dollar bills then try the same thing with 5 of the metal coins and see what happens.

  4. I’m betting nothing.

  5. If xring believes nothing will happen,I would like to see the expression on xrings face when the agent gives xring the patdown.My wife was pulled out of line because of 4 metal buttons on her jeans set off the metal dectectors alarm.The buttons had metal content equivilent to 4 nickels.After being patted, she was allowed to proceed.

  6. xring would be wise enough to put the coins in the little dish like thing and not carry them through the metal decectors.

  7. kusskedp says:

    Granted, stetsonwalker, the $1 Susan B. Anthony and the Sacajawea coins were dismal failures. However, these programs were not accompanied by the eradication of the one dollar bill. When faced with change, we will often go back to our bad old habits. And, while it’s not a mortal sin, continuing to absorb the cost of printing, distributing, and destroying mountains of dollar bills is a habit we can easily afford to do without. To ease the withdrawal symptoms from this, they could ramp up printing of the $2 bill and give us the satisfaction of carrying low-denomination paper money in our pockets for a while. Then, after a couple of years, the $2 bill could also be eliminated as our Canadian neighbors did years ago with their Loonie and Two-nie program.

  8. test account

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