Daily Archives: March 4, 2011

So Dollar Bills are Costing Us Money?

clipped from www.reuters.com

Replacing dollar bill with coins could save billions: government

(Reuters) – Replacing $1 bills with coins of the same amount could save the federal government $5.5 billion over the next 30 years, officials said on Friday.

 

Analysis by the U.S. Government Accountability Office showed the savings would come from replacing bills with more durable coins.

The report was not the first time the GAO has recommended the money swap, but the agency said past efforts to buoy support for the $1 coin have been hindered in part because the $1 bills have remained in circulation.

Other countries such as the United Kingdom and Canada that use a coin advised the GAO to pull the bills from circulation to hasten public acceptance.

The GAO said a change to coins from dollar bills would present some upfront costs and assumed a four-year transition period.

Private companies also said altering current equipment to take and store the proposed $1 coin would be an expense, the GAO said.

blog it
This is interesting…I guess it saves money to make the change because paper money wears out and it costs extra to print more. 

Hey, I’ve got an idea… why don’t we go back to gold? Gold $1 coins would probably be much smaller than silver-ish ones and take up much less pocket space. Easier for private companies to adjust their coin machines…especially if the $1 gold coin is the size of a nickel.

Things have changed a lot since I went to college…

It’s not often that I see controversy in the press about my alma mater, Northwestern University (BS 1968, MA 1969)… so I was surprised when this turned up in the NY Times:

The president of Northwestern University said Thursday that he was “troubled and disappointed” by a psychology professor’s decision to present his students last week with a demonstration outside class that featured a couple engaging in a live sex act using a prop.

The demonstration had been arranged by J. Michael Bailey, whose Human Sexuality class has an enrollment of nearly 600. On Feb. 21, after concluding a lecture at a university auditorium about sexual arousal, Professor Bailey brought onto the stage a man whom he had invited to participate in a discussion of “kinky people,” according to an e-mail the professor later sent to his students that was reprinted by The Daily Northwestern.

Oooweee! The whole article is available in the Education section of the Times HERE. Checking out the coverage in the Daily Northwestern (click on the link in the quote), I find most of the student community supporting Bailey (who has taught a NU for two decades) and a certain number of outsiders who are offended by the whole thing.

I’ll be curious to see what President Shapiro announced investigation comes up
with… welcome to the 21st Century!

Quote from Republican History…

A century ago, Teddy Roosevelt summed up changes in the Republican Party:

The Republican Party is now facing a great crisis. It is to decide whether it will be, as in the days of Lincoln, the party of the plain people, the party of progress, the party of social and industrial justice; or whether it will be the party of privilege and of special interests, the heir to those who were Lincoln’s most bitter opponents, the party that represents the great interests within and without Wall Street which desire through their control over the servants of the public to be kept immune from punishment when they do wrong and to be given privileges to which they are not entitled.

One hundred years later we see the Republicans having made the anti-Lincoln decision. If he were alive today, Teddy would most likely be a Democrat.

So much for the relationship with History.