GAO: Replacing the $1 Note with a $1 Coin Would Provide a Financial Benefit to the Government Getting rid of the $1 bill would save the government $184M/year. Not an enormous amount, on the scale of the budget, but there's no getting around that $184M is a very large amount of money indeed. Ten years ago, it would have saved $522M/year, but the Treasury has improved the technology that they use to identify and destroy worn notes—it used to be overload broad, but that's fixed, allowing lots of bills to stay in circulation longer.
The Economist: America’s debt—Shame on them The Economist, a relatively staid and conservative publication, has run an editorial in which they describe Republicans' stance on the debt ceiling as "economically illiterate and disgracefully cynical." They go on to describe Republicans as "unprincipled," as not being "real tax reformers," and conclude by declaring that "the blame falls clearly on the Republicans" in debt talks. Yup.
PolitiFact: Allen says China owns more U.S. bonds than Americans It's not even close. Of $14.3T of national debt, China owns $1.2T. The U.S. government owns $6T. $3.8T is privately held. When confronted with the facts, the Allen campaign claimed that they were talking only about debt held by ordinary American investors, but the numbers that they cited to back up that claim actually proved the opposite. I hope NBC-29 runs a correction. Lord knows Allen won't admit that he's full of shit.
Published by Waldo Jaquith
Waldo Jaquith (JAKE-with) is an open government technologist who lives near Charlottesville, VA, USA. more »
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