Better East Texas: Replacing the dollar bill? -, Longview, Jacksonville, Texas | ETX News

Better East Texas: Replacing the dollar bill?

By Pat Stacey

The congressional bi-partisan super committee that is charged with making recommendations on reducing the national debt is floating an idea whose time may have come. 

The committee is considering advising congress and the president to embrace a law that would eliminate the dollar bill and replace it fully with the dollar coin.  The coins would cost more to produce in the beginning but would more than pay for themselves in the long run. 

The Government Accountability Office said that it would save the US 5.6 billion dollars over 30 years.  Additionally, bills only survive about 3 years while coins would last decades.  And let's face it, coins will also survive the washing machine better than bills.  The mint is currently producing two million dollar coins a day but Americans just won't use them – that's 2-million a day! 

Opponents are more wrapped up in nostalgia and habit more than anything else.  So there really is no reason not to do this other than the fact that Americans are hesitant to change their habits.  So it may turn into a force feed as the bills would be phased out over time but it truly seems this is something that we need to go for. 

So consider changing your habits and occasionally using a dollar coin, it may be the exact change our country could really use and it might make for a Better East Texas.

Powered by WorldNow

105 West Ferguson Street
Tyler, TX 75702

FCC Public File
EEO Report
Closed Captioning

All content © Copyright 2000 - 2014 Worldnow and KLTV. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.