Trump says he will kill ‘wasteful’ US currency

President Donald Trump recently made a bold announcement to eliminate the production of pennies in the United States. In a post on Truth Social, Trump expressed his frustration with the fact that it costs more than 2 cents to mint a single penny, labeling it as a wasteful practice. He has instructed the Secretary of the US Treasury to cease the production of new pennies as part of his efforts to cut unnecessary spending in the country.

This decision comes as part of Trump’s broader strategy to reduce government expenses since taking office on January 20. The Department of Government Efficiency (DOGE), led by billionaire Elon Musk, also highlighted the exorbitant costs associated with producing pennies. According to a post on X, the production of pennies is costing American taxpayers tens of millions of dollars, making it a prime candidate for elimination.

Musk’s initiative aims to slash $2 trillion in federal spending and has identified the penny as a prime target due to its high production costs. The U.S. Mint reported that each penny costs 3.69 cents to produce in fiscal year 2024, resulting in a total cost of $119 million to taxpayers. This marks the 19th consecutive year in which the production costs of pennies have exceeded their face value.

The history of the penny dates back to the establishment of the U.S. Mint in 1792, where it was one of the first coins to be minted. Originally made of pure copper and larger in size, today’s penny is predominantly composed of zinc. Trump’s decision to halt the production of pennies reflects a proactive approach to streamlining government operations and eliminating unnecessary expenses.

In conclusion, President Trump’s move to halt the production of pennies underscores his commitment to fiscal responsibility and efficiency in government spending. By eliminating the minting of pennies, the administration aims to reduce waste and optimize financial resources for more impactful initiatives. This decision aligns with broader efforts to enhance government efficiency and prioritize taxpayer dollars effectively.

—
This article was rewritten based on the original HTML content provided and tailored for integration into a WordPress platform.