Saving money on making money
This final note today, which comes to us from page 165 of the president’s budget the White House released today.
You know that saying “A penny saved is a penny earned”? How ’bout this: A penny made more cheaply can save the government a whole boatload of money.
The president wants Congress to let the Treasury Department use cheaper — the actual phrase is “more cost-effective” — materials to mint our coins. It costs, the budget says, 2.4 cents to make a penny because copper and assorted raw materials are so expensive now; 11.2 cents to make a nickel.
Total potential savings? $50 million.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.