Illon Musk’s dribbling puts her attention on the US copper currency

Elon Musk Ministry of Governmental efficiency (Doge) He looks forward to ways to reduce government spending. One of its first goals can be a penny.

Dog, who officially became part of the government on Tuesday after the president Donald Trump The executive order was published on X that the production of a shark costs American taxpayers tens of millions of dollars, indicating that it may be one of the elements that you may think of.

The Musk initiative, which aims to reduce $ 2 trillion of federal spending, did not directly state that a penny will be canceled, but it highlights that it costs three times more than it really deserves.

According to American mint, each penny cost 3.69 cents in the fiscal year 2024, which costs taxpayers $ 119 million. This represents the nineteenth year in a row as production exceeded its nominal value.

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In the United States, Beni was one of the first coins made by American mint after its establishment in 1792. When it was first produced, the currency was larger and made of pure copper. The smaller day is mostly made of zinc, according to American mint.

For comparison, the Canadian government canceled its penny from the coins system in 2012 because inflation would erod its purchasing power.

“With the passage of time, Benny’s burden has grown on the economy in relation to its value as a means of payment,” says the government’s economic action plan 2012.

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At that time, Benny only kept about ten of his original purchasing power.

The report said: “Given the decrease in the purchase value, some Canadians are more disturbing than a useful currency,” the report said.

Penny is just one of the many elements that DOGE may look forward to eliminating because it determines its attention to reducing $ 2 trillion of federal spending. However, Musk admitted in early January that Doge may not reach its intended goal $ 2 trillion.

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“I think we will try 2 trillion dollars. I think this is like the best result of cases,” said Mousse, CEO of Stagwell Inc. said. In getting $ 1 (trillion). “