NY Times, TVWeek

Why Doesn’t the U.S. Get Rid of the Penny? It’s Our Non-TV Story of the Day

Oct 11, 2016  •  Post A Comment

The reason the U.S. has not stopped minting the costly and seemingly unneeded penny is the same reason a lot of other things never get done — at least according to President Obama.

The New York Times reports that while printing paper currency is profitable for the federal government, making pennies is a money loser. It costs $1.43 to produce 100 pennies, according to the report, which notes that making pennies cost taxpayers almost $39 million last year.

The Times notes that Obama has come out in favor of getting rid of the penny. The report quotes him saying of the penny in 2013: “It’s one of those things where I think people get attached emotionally to the way things have been.”

The Times adds: “He also offered what is probably the best explanation for the continued production of pennies: Congress struggles to accomplish even the most obvious tasks.”

Obama was quoted in 2013 calling the penny “a good metaphor for some of the larger problems that we’ve got,” and using it to illustrate the point that the government struggles to eliminate “things that don’t work so that we can then invest in the things that do.”


  1. $39 Million – chump change! Obama has spent (as of last January) $72,881,504.68 on personal travel since taking office. Thats $10,000,000 each year folks! That is an average of the income taxes paid by 8,444 Americans each year so Obama can golf wherever he wants! No other president ever abused the American taxpayer like Obama has. So don’t worry too much about the cost of pennies!

    • You are confusing personal travel with official. Michelle had them roll out AF2 less than 24 hours after Barry went to Hawaii because she had shopping to do!! Absolutely no concern for taxpayers!

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