Obama is open to getting rid of the cent.

Not sure if posted yet, if so sorry,

http://news.yahoo.com/obama-open-getting-rid-penny-231623119--abc-news-politics.html

I'd be fine as long they still mint pennies for collectors.

Small article, but it seems that hes open, but wants to keep it around.

Pitch the penny? President Obama says it may be time to get rid of the one cent coin.
The copper coins cost more to mint than they are worth and are increasingly used less and less, leading many economists to ask why the U.S. hasn't gotten rid of them entirely.
"I don't know," Obama said when asked about it today.
"It's one of those things where I think people get attached emotionally to the way things have been," he said on a Google+ hangout. "We remember our piggy banks and counting out all the pennies and then taking them in and getting a dollar bill or a couple of dollars from it and maybe that's the reason people haven't gotten around to it."
Obama went on to suggest the penny is a "good metaphor" for some of the larger problems facing lawmakers as they seek to reduce the deficit.
"This is not going to be a huge savings for government. But anytime we're spending more money on something that people don't actually use, that's an example of something we should probably change," he said. "One of the things that you see chronically in government is it's very hard to get rid of things that don't work so that we can then invest in the things that do."

 

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I dont think you can post political stuff here, anyways the "getting rid of cent" has been discussed many times.

 

"One of the things that you see chronically in government is it's very hard to get rid of things that don't work so that we can then invest in the things that do."

Words more true have never been spoken.

 

Haha yes.

Get rid of the penny and bring back dollar coins, maybe $5 and $10 coins as well.

 

Finally a president with a brain.

 

Where's the "dislike" button?

 

Not really political than any other discussion of this topic; there's no mention of Obama's political views beyond what's necessary to discuss the coin (and he seems open to the idea of getting rid of the penny, but doesn't seem to feel too strongly about it, which pretty much echoes my feelings on the matter). But this has already been done to death. I honestly agree we could probably do without the penny, but I doubt we'll see it go away very soon; people are too attached to it and politicians don't get much political capital from forcing a change down people's throats if the public in general is against it. Until the public is so against the penny that those against it outnumber those for it (and those who don't really care), and make enough noise about it, Congress will probably leave it alone. And that's as "political" as I can get about it lol...

Canada did away with their cent last year, but political pressure against changing the status quo isn't as strong there. I'm sure we'll do away with it eventually but don't see it happening very soon.

 

Although I am no fan of the President, I believe this may be the first time I would agree with him on an issue. I would like the coin kept, but only for inclusion in proof sets and uncirculated sets, and return it to the post-1962 copper and zinc composition for those sets. Rolls would be nice, too!

 

+1

 

Where? I haven't seen one since Reagan.

 

How's that 'trickle down economics' workin' for ya, bunky?

 

I don't get it. Congress has the power to coin money. Not the president.

 

Congress cannot order it. They can vote for or against it. If they vote against it, it's dead. If they vote for it, the President has the final say. (Except for a possible override of a veto)

 

Yup, brain so big he had to double the size of our government to match.

 

Not to get too political about it lol but that includes 2 graduates from Yale, one from Oxford, and one from Harvard. Say what you will about their politics but that sounds fairly smart to me.

 

edit

 

I smell a mod!

 

Is there a dislike button??

 

I think the penny will go the way of the dinosaurs. Canada already got rid of their penny. They are zinc with a coating of copper, so I won't weep for it. I do like the idea that the pennies that are left automatically get some numismatic or collector value because they aren't making any more.

 

You misspelled Roosevelt.