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.