Lake Minnetonka Liberty

"Man is not free unless government is limited"

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Government Loses Money Minting Money

Seriously. According to Time, the new Obama budget proposes using cheaper metals to manufacture pennies and nickels. Apparently, it cost the feds 2.4 cents to actually manufacture a penny and 11.2 cents to manufacture a nickel. So we’re losing money making money.

The feds suggest that we make money-production less expensive. They do not, however, suggest that we make our money worth more by, for example, not inflating the currency.  Right now, those copper pennies in your pocket are already made of zinc for the most part, and our nickels are mostly copper.

Read the rest at Big Government