Doesn't Make Cents

[eddiememphis]

https://www.cnn.com/2025/02/09/business/trump-treasury-penny-production-halt/index.html
https://www.msnbc.com/rachel-maddow-show/maddowblog/trumps-pennies-order-adds-list-legally-dubious-power-grabs-rcna191445



President Donald Trump announced Sunday that he has instructed Treasury Secretary Scott Bessent to halt the production of pennies, citing the high cost of producing one cent.

A New York magazine report added, "Like so many other things Trump has said or tried to do since retaking office, it's not clear if he can legally [order the Treasury to stop making pennies]. It would probably require an act of Congress to fully discontinue the coin, since Congress dictates America's currency specifications. But as with so many other things, Trump may just try to do it anyway."

[FoxtArt]

While I don't disagree with a lot of the cost-cutting directions, the expansion of the executive authority is concerning.

What Trump does in the next four years, sets the framework for what powers the "first transexual gay progressive communist" president also entertains four years from now.

I like gov to be restrained... including the executive.

[Sawin]

While I don't disagree with a lot of the cost-cutting directions, the expansion of the executive authority is concerning.

What Trump does in the next four years, sets the framework for what powers the "first transexual gay progressive communist" president also entertains four years from now.

I like gov to be restrained... including the executive.

100%

[.455_Hunter]

I get the impression a bunch of this stuff is being done simultaneously to see what actually sticks, and what will be negotiated in the courts. Cutting university research grant overhead to 15% isn't really viable, but the existing 50+% is not sustainable. The result will probably be a number in-between that effectively supports valuable research (30%?) while not allowing excess funds to roll into stupid crap, like the university's new "Diversity and Equity Center".

[eddiememphis]

...the "first transexual gay progressive communist" president...

President Brinton?

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[eddiememphis]

I agree he is guilty of overstepping his authority in many places.

I know two people that work for the federal government. They are both concerned about losing their jobs. One hates Trump and the other is indifferent.

Both agree that cost saving measures are overdue at all levels of government. However, it hurts more when it affects them personally.

I like some of them- Gulf of America is hilarious. Stopping the mint from making pennies is clearly not within his ability.

There will likely be some sort of limit attempted to be placed on Executive Orders after this spree, although Trump (283) is not close to Clinton (364) or Reagan (381).

https://www.federalregister.gov/presidential-documents/executive-orders

[.455_Hunter]

My son was not real enthused when I told him his share of the federal debt is $103K. We don't need a huge bloated federal budget and we don't need a zero federal budget. We need a federal government (and budget) that is lean, mean, and effective.

[3beansalad]

There will likely be some sort of limit attempted to be placed on Executive Orders after this spree, although Trump (283) is not close to Clinton (364) or Reagan (381).

https://www.federalregister.gov/presidential-documents/executive-orders

Interesting site, and while I prefer a President not govern by EO it's a back and forth fight between administrations. EOs 13081, 13992, 13993, 14018 and 14029 repealed 20 EOs from the previous administration.
I admit I'm not taking the time to go through the remainder of the Biden presidency, nor what was done by Trump in his first term, so this could be an anomaly (or a drop in the bucket.) Something needed to be done to curb the out of control spending, I'm thankful for small miracles. And if a Dem is elected in '28, I'm sure we'll see a reversal of many of these cost cutting measures.

On the smallest of scales, spending $0.0369 to produce a coin 'worth' $0.01 is a step in the right direction. Especially when you consider the resulting $110M annual loss (~depending on sources.)

[Clint45]

To be fair, the copper value of a penny far exceeds a cent, and we already have billions of pennies in circulation. Really a non issue. They are not banning pennies.

[O2HeN2]

...probably to make us Canada-compliant :)

Canada stopped minting pennies in 2012, and stopped using them in 2013. Now they just round to the nickel.

O2

[FoxtArt]

President Brinton?

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Hide yo' wife, and hide yo' luggage!!!

Again, I agree the debt and spending need addressed.

However... where some might say the ends justify the means, if we apply that logic, conversly the next progressive president will say "firearm deaths need addressed" and the ends also justify the means. If we look past cases where "the ends justify the means" for causes that matter to us, we cease to have a republic and a president. I hope we do not set dangerous precidencets in court or otherwise that creatively usurp the guardrails that are there for damn good reason.

[Great-Kazoo]

I agree he is guilty of overstepping his authority in many places.

Like student loan forgiveness, or blanket pardons for j6 committee and hunter [ i will never pardon my son] biden?

[rondog]

Like student loan forgiveness, or blanket pardons for j6 committee and hunter [ i will never pardon my son] biden?

Like!

[FoxtArt]

Justifying executive excesses with other executive excesses is exactly what we're talking about.

It used to be that conservatives were fiscally concerned and stood by foundational principles / constitution.

There's hardly any left these days. Now, "I don't care if my guy breaks all the rules, the other guys deserve it" <--- not a conservative/republican, sorry.

FTR I believe that DOGE will be very underwhelming in driving budget cuts, but wildly successful in generating "look at me" headlines. For all that its done and doing, they are going to have to shave that original 2T mark by 7/8 or more. Honestly, I expect 2 years in, we have the same spending. This executive, after all, holds the record for the highest single-term deficiet spending. When another opportunity arises for Trump to sign his name to bread and circuses, he'll do it.

[theGinsue]

Gulf of America is hilarious.

Actually, I think I might understand this one from a logical, serious reason.

There are a ton of executive and legislative level restrictions on drilling, etc. specifically within the "Gulf of Mexico", but none fro the "Gulf of America". What if renaming the Gulf is an end run around these restrictions?

Just a thought I've pondered.

[3beansalad]

To be fair, the copper value of a penny far exceeds a cent, and we already have billions of pennies in circulation. Really a non issue. They are not banning pennies.Just a note, since 1982, all pennies are 97.5% zinc.

Sent from my SM-S928U using Tapatalk

[kidicarus13]

Just a note, since 1982, all pennies are 97.5% zinc.

Sent from my SM-S928U using TapatalkTrue98285

[eddiememphis]

It's official!

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Now we need to get him to cancel Blue Sky like he did Denali, although I think there may be issues with that one.

Denali/McKinley is in a National Park. Mount Evans isn't. But it needs to be brought to his attention.

I just need to figure out how...

[brutal]

Just a note, since 1982, all pennies are 97.5% zinc.

Sent from my SM-S928U using Tapatalk

They are cheaper than washers when needed.

[buffalobo]

They are cheaper than washers when needed.Much cheaper.

Even considering the time it would take to drill out a couple to use around the house.

Huge savings if it saves me a 30 mile round trip to the nearest hardware store.

If you're unarmed, you are a victim

[BPTactical]

It costs 3 cents to make a penny.

Think about that for a bit..

[JohnnyDrama]

Much cheaper.

Even considering the time it would take to drill out a couple to use around the house.

Huge savings if it saves me a 30 mile round trip to the nearest hardware store.

If you're unarmed, you are a victim

I've been doing this for years.

[mb504]

It costs 3 cents to make a penny.

Think about that for a bit..

As of August 2024:

The penny's unit cost 3.69 cents to produce.
The nickel's unit cost 13.78 cents to produce.

https://www.usmint.gov/content/dam/usmint/reports/2024-annual-report.pdf

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[Scanker19]

Sounds like it would save more and be less impactive to transactions to get rid of the nickel.

[Eric P]

They could allow cash transactions round to the nearest dime or quarter, while allowing e-payments continue to round to the penny.

I have a bucket of coins since vanks won't take them anymore for deposit without a fee. And I refuse to pay the grocery store vending machines to count it.

[eddiememphis]

I have a bucket of coins since vanks won't take them anymore for deposit without a fee. And I refuse to pay the grocery store vending machines to count it.

1st Bank doesn't charge a fee.

[def90]

Round to the nearest next whole number.. Sounds like a way for a retailer to take advantage of listing somthing at lets say at $.31 knowing they would be making an extra $.04 on every cash sale. The other side of the coin would be the government using this to push for all electronic transactions and to do away with cash entirely.

And last time I dumped a bucket of change in to my account at Wells Fargo I wasn't charged anything for it.

Interesting that it only costs $.032 to print a dollar bill.

https://www.federalreserve.gov/faqs/currency_12771.htm

[Scanker19]

If your bank charges you a fee to deposit coins maybe you need a new bank. That’s some never level, literal nickel and diming…

[O2HeN2]

I have a bucket of coins since banks won't take them anymore for deposit without a fee.

Most, if not all Ent locations have a free DIY coin counting machine.

O2

[Clint45]

They can discontinue minting pennies and nickels. There are already enough in circulation and most transactions are electronic. If need be, people can just round up or down.

[FoxtArt]

If we shave off 30 billion from some of the expense side of the budget, and shave 450 billion/year from the income side, while adding more defense etc. expenses....

I stand by my assertion we won't see any realistic reduction in deficit spending in the next 2 years. Most likely we'll end up seeing an increase.

https://taxpolicycenter.org/taxvox/draft-house-budget-targets-would-leave-republicans-tough-tax-choices

It's great that we're not funding DEI, and shaving off a few agencies, just don't expect we'll be solving deficit spending with the politicians in power - unfortunately we can't nickel and penny our way there when looking at the bigger picture.

[FoxtArt]

The terminations so far are quite the fuck-up. You can follow a live feed, of sorts.

https://www.reddit.com/r/fednews/comments/1iozypr/megathread_mass_firing_of_probationary_employees/

Tax payers are going to be paying out the ass for resulting litigation on this. Lots of whiplash, failure to follow federal procedure / terminations are not using the required documentation, etc...

Exmaples: You're all familiar with the buyout. Many people took it. Arbitrarily after many people took it, they decided probationary employees couldn't take it and terminated them. Terminations are not on the SF50, which is required for appeals / precidence, and are by email. Terminations are not by performance, and include a ton of disabled veterans, etc. Terminations are for the most part, "everyone we can fire", although some agencies, such as the NNSA, get whipped back and they cancel the termination, only to likely reissue them a few days from now.

This isn't culling the worst performers of the fed gov, this is culling all the new blood / low GSA grade / most cost effective labor, while preserving the curmogeons that don't do any work.

Great idea in theory, wrong people leading the execution. We're not fixing the deficiet, now we're adding unemployment and likely liability for back wages on top of billions in attorney fees.

[eddiememphis]

Medicare and Social Security spending are the primary drivers of government debt.

As bold as Trump and Musk are at chopping away dribs and drabs, they are too scared to tackle the big problem.

[FoxtArt]

Medicare and Social Security spending are the primary drivers of government debt.

As bold as Trump and Musk are at chopping away dribs and drabs, they are too scared to tackle the big problem.

Spot on.
https://fiscaldata.treasury.gov/americas-finance-guide/federal-spending/

Essentially even if he removed all departments/all agencies leaving the FICA type agencies and VA care, the federal outlays are still 90% of what they are today. They are acting like they are catching big fish, but they are wanting only a handful of fry for some headlines.

[TRnCO]

Cuts need to happen. Small or not, cuts need to happen. Gotta start some where.

[flogger]

I like the King Soopers at the outlet mall in Castlerock. I went for the first time since the strike and there were no picketers at all!

Thats a busy store, I wonder how they pick and choose which locations they will picket?

[eddiememphis]

https://www.wpr.org/economy/harley-davidson-to-receive-89m-federal-funding-for-electric-motorcycles

Harley-Davidson to receive $89M federal funding for electric motorcycles.

https://investor.livewire.com/news-events-1/news/news-details/2025/LiveWire-Group-Inc.-Reports-2024-Fourth-Quarter-and-Full-Year-Financial-Results/default.aspx

The grant was announced in July 2024. Harley brand Livewire sold 660 electric motorcycles in 2023 and 612 in 2024. The Company?s consolidated net loss was $93.9 million for the year ended 2024.

If the company is making bikes very few want, why does the government want it to succeed? The grant was "funded by the Inflation Reduction Act, to convert 11 closed or at-risk auto manufacturing facilities in eight states to make electric vehicles or parts for those vehicles.

"This ground-breaking program is central to catalyzing expansion of the industrial capacity to help us meet the president's climate goals and allow tens of thousands of skilled American workers to participate in the great comeback story of American manufacturing," said Ali Zaidi, an assistant to the president and a national climate advisor, in a statement."

Think Elon will go after this one?