To be clear, what the Department of Government Efficiency – not a real department, nor a legitimate ‘leader’ – is doing and how they are doing it, unconstitutionally, without the approval of Congress, the Herald’s editorial board entirely disavows. The Trump Administration is radically undermining the federal government without due consideration to the important role of, historic relationship among and the benefits it extends to, local, state, and tribal governments and foreign nations.
Of course, there are efficiencies to achieve, but the way the administration is going about it is reckless and causing significant harm to our country and many Americans who, in the name of efficiency, are losing their jobs, likely homes, and more.
These arbitrary actions, like Tuesday’s Executive Order titled, “Implementing the President’s Department of Government Efficiency Workforce Optimization Initiative,” require only one person to be hired for every four who leave with no regard for what the actual needs are on the ground. These actions are hurting the country and Americans, including many who voted for Trump, and hardly making anything or anyone great.
On Sunday, Trump posted on social media, “Let’s rip the waste out of our great nations [sic] budget, even if it’s a penny at a time.” All the ripping and wrecking aside, this is one idea the Herald’s editorial board can get behind.
Not a novel idea, Congressional Republicans from Arizona have been trying to get rid of the penny since the 1990s, something Canada did in 2013. Perhaps nostalgia – the penny has been with us since 1792 – penny production may finally be put to rest since it is an economic loser.
Two mints – the original U.S. Mint in Philadelphia and the Denver Mint – produce pennies, at a loss. It costs 3.7 cents to make one penny, 3 cents for production and 0.7 cents per penny for administration and distribution.
In FY2024, although the U.S. Mint returned $50 million to the U.S. Treasury, it lost $85.3 million on its production of 3.2 billion pennies, the 19th year the cost of production exceeded their actual value. With a nickel also costing 13.8 cents to produce (11 cents for production and 2.8 for administration and distribution), it may soon also be within DOGE’s sights.
The Denver Mint, that Congress approved in 1895 and started making coins in 1906, is unfazed by Trump’s announcement. A major historic tourist attraction for Denver, it will continue on making all other coins and giving tours.
With 240 billion currently in circulation, it will take a while for pennies to disappear entirely, and may prove a headache for some retailers. But kids may experience a raise with larger coins being earned and saved in piggy banks and adults finally being able to declutter household penny jars.
If only Musk would focus on pennies (and nickels), and leave the rest alone. Without a rigorous process to review spending, Congress and the Supreme Court should demand so.
