To follow the example of our neighbor to the north (Canada, for those who did not excel in geography in school), I petition the Obama administration to stop production of the penny. The penny would still be able to be used, but the production of penny would stop.
Many economists suggest that stopping production of the penny would help the economy. Producing pennies wastes tax payer dollars, and many people believe that the penny is useless- in that it does not buy anything.
The US mint spends 1.26 cents in producing one penny. This suggests that the American taxpayer loses .26 cents every time a penny is made. Considering the US mint makes over 7,400,000,000 pennies a year, the cost numbers start to add up
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