The US Mint announced this morning that they will phase out the production of new pennies beginning in late 2021, and mint the last batch of pennies on April 1, 2022.
I looked up some facts about the penny and discovered a few disturbing things. It costs 2.4 cents to make a 1 cent penny. Not too tough to imagine considering Government inefficiency.
I came across a recent quote from a politician on his thoughts on the penny. Out of the lengthy quote, there was one part that stood out at me:
“This is not going to be a huge savings for government” (if we get rid of the penny).
I looked it up to see if he was right. It would have saved the country roughly $85.4 million had we stopped circulating a coin that no one really assigns any value. I don’t know about you, but $85.4 million is a lot of money. However, it isn’t when you consider that we have a debt of over $23 trillion dollars. I mean, $85.4 million dollar savings doesn’t even put a dent into a debt of that size.
A trillion is a million millions!
This is the problem in Washington in how they interpret what is small. On an individual basis, they can waste 100’s of millions of dollars on their donors and pet projects, and justify it by comparing it to trillions of dollars that they spend collectively. In other words, 100’s of millions of dollars is nothing compared to our budget and the money that we owe in this country.
Now, consider that there are 538 of them, with a good majority having influence over some type of financial waste and vote buying/paybacks. What if we collectively gathered all of that waste? Do you think we could start to put a dent in $23 trillion dollars of debt? $85.4 million by itself won’t do anything. However, 75 to 100 wasteful projects that cost $50 to $100 million a piece can produce some real savings.
Consider what it says in Luke 16:10:
“One who is faithful in a very little is also faithful in much, and one who is dishonest in a very little is also dishonest in much.”
They are throwing us into financial ruin because they consider 85.4 million or 100 million dollar pet projects nothing more than mere pennies. Once again these mere millions are not a big expense when you are spending trillions.
What if 85 million was still a tremendous amount of money to a politician?