Tuesday, August 28, 2007

And You Thought Pennies Were Worthless...

Last week when I read an article about what it costs the US Mint to make a penny I was flabbergasted. Did you know that because of the rising cost of zinc in the world that it costs 2 cents to make every penny? That's right, 2 cents. And last time I checked a penny is only worth, you got it, 1 cent. Considering the US government mints about 8 billion pennies every year, taxpayers are paying about $160 million dollars annually to mint only $80 million dollars worth of pennies. This is yet more evidence that the inmates must be running the asylum on Capital Hill. Seriously, what other institution would allow such gross financial mismanagement without a serious restructuring in leadership. And to think, this is one of the mildest examples of poor leadership by our "saviors" on Capital Hill.


At 3:20 PM , Anonymous akas said...

Oh! We talked about that in economics. Very interesting


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