Obama wants to decrease the cost of making some coins; no real word about decreasing the debt.
Any cost savings in coin production is a rain drop in comparison to decreasing the national debt.
According to Yahoo, it costs 2.4 cents to make one penny, that is 140% over its face value. Obama wants to get the manufacturing and administrative cost to less than a penny.
It costs 11.2 cents to make one nickel, that is 124% over its face value. Obama wants to get the manufacturing and administrative cost to less than a nickel.
I think they need to get rid of the penny--its time has passed.
Nickel is made of nickel and copper. Perhaps steel would be better.
Waldo,
Maybe Obummer will see if China can make our pennies any cheaper than we can. They seem to have succeeded in making our dollar "cheaper".