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April 9, 2014

Jonathan Tobin: Why Did Kerry Lie About Israeli Blame?

Samuel G. Freedman: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Jessica Ivins: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Kim Giles: Asking for help is not weakness

Kathy Kristof and Barbara Hoch Marcus: 7 Great Growth Israeli Stocks

Matthew Mientka: How Beans, Peas, And Chickpeas Cleanse Bad Cholesterol and Lowers Risk of Heart Disease

Sabrina Bachai: 5 At-Home Treatments For Headaches

The Kosher Gourmet by Daniel Neman Have yourself a matzo ball: The secrets bubby never told you and recipes she could have never imagined

April 8, 2014

Lori Nawyn: At Your Wit's End and Back: Finding Peace

Susan B. Garland and Rachel L. Sheedy: Strategies Married Couples Can Use to Boost Benefits

David Muhlbaum: Smart Tax Deductions Non-Itemizers Can Claim

Jill Weisenberger, M.S., R.D.N., C.D.E : Before You Lose Your Mental Edge

Dana Dovey: Coffee Drinkers Rejoice! Your Cup Of Joe Can Prevent Death From Liver Disease

Chris Weller: Electric 'Thinking Cap' Puts Your Brain Power Into High Gear

The Kosher Gourmet by Marlene Parrish A gift of hazelnuts keeps giving --- for a variety of nutty recipes: Entree, side, soup, dessert

April 4, 2014

Rabbi David Gutterman: The Word for Nothing Means Everything

Charles Krauthammer: Kerry's folly, Chapter 3

Amy Peterson: A life of love: How to build lasting relationships with your children

John Ericson: Older Women: Save Your Heart, Prevent Stroke Don't Drink Diet

John Ericson: Why 50 million Americans will still have spring allergies after taking meds

Cameron Huddleston: Best and Worst Buys of April 2014

Stacy Rapacon: Great Mutual Funds for Young Investors

Sarah Boesveld: Teacher keeps promise to mail thousands of former students letters written by their past selves

The Kosher Gourmet by Sharon Thompson Anyone can make a salad, you say. But can they make a great salad? (SECRETS, TESTED TECHNIQUES + 4 RECIPES, INCLUDING DRESSINGS)

April 2, 2014

Paul Greenberg: Death and joy in the spring

Dan Barry: Should South Carolina Jews be forced to maintain this chimney built by Germans serving the Nazis?

Mayra Bitsko: Save me! An alien took over my child's personality

Frank Clayton: Get happy: 20 scientifically proven happiness activities

Susan Scutti: It's Genetic! Obesity and the 'Carb Breakdown' Gene

Lecia Bushak: Why Hand Sanitizer May Actually Harm Your Health

Stacy Rapacon: Great Funds You Can Own for $500 or Less

Cameron Huddleston: 7 Ways to Save on Home Decor

The Kosher Gourmet by Steve Petusevsky Exploring ingredients as edible-stuffed containers (TWO RECIPES + TIPS & TECHINQUES)

Jewish World Review Dec. 15, 2011 / 19 Kislev, 5772

The U.S. government is cashing in its chips, literally

By Dale McFeatters




http://www.JewishWorldReview.com | The U.S. government is cashing in its chips, literally. It is giving up on its repeated efforts to convince the spending public to use a dollar coin.

Dollar coins save the government money in the long run because they last so much longer than the paper dollar, but Americans aren't having any of it.

The White House announced Tuesday that it is stopping almost all production of metal dollars, which consist of the presidential coins and a smaller number of Native American coins, which still bear the likeness of Sacagawea.

That means the presidential-coin series, intended to honor each president with his own coin, will stop with James Garfield, the 20th president.

"And, as it will shock you all," said Vice President Joe Biden in announcing the curtailment of the program, "the call for Chester A. Arthur coins is not there."

A fine way to treat a chief executive who enacted significant civil-service reforms, revitalized the U.S. Navy and was criticized on leaving office for accumulating large budget surpluses. He was, however, a Republican and perhaps that factored into the Obama administration's thinking.

The decision to effectively eliminate the dollar coin was announced at the conclusion of a White House meeting on combating government waste. Pulling the plug on the coin will save taxpayers $50 million a year, which, The Wall Street Journal acidly points out, is "about 15 minutes' worth of the federal deficit."

The Mint will continue producing enough presidential and Native American coins to meet the needs of collectors, which, judging from demand to date, isn't very great.

The Mint produced between 70 million and 80 million coins per president, but about 1.4 billion were returned to the Federal Reserve, which was beginning to have problems storing them all. And, said Treasury Secretary Timothy Geithner, "That costs money." Freeing up storage space at the Fed will undoubtedly be another significant saving to the taxpayer.

The 1.4 billion coins on hand are believed to be enough to meet demand for a decade. Who would believe it in this country? A lack of demand for money.

The United States has had a dollar coin since 1794. Mostly they were silver, but between 1849 and 1889 they were gold. The dollar coins were popular until the '20s and '30s, until the federal government became increasingly reluctant to part with the silver and gold to mint them.

The last significant dollar coin, from 1971 to 1978, was the Eisenhower dollar, which had the moon landing on the tails side, except for the bicentennial year, when it was replaced by the Liberty Bell.

Congress tried again with the Susan B. Anthony, which lasted from 1979 to 1981 and was revived for a year in 1999. The public complained that it was too close to the quarter in size.

From 2000 to 2008, the Mint produced the Sacagawea, a handsome gold-colored coin featuring the woman who accompanied Lewis and Clark on their expedition. Then the Sacagawea coin became the Native American coin, with the same front but a different back.

In 2005, Congress ordered the Mint to produce dollar coins with the likenesses of the U.S. presidents, four each year between 2007 and 2016. As we've seen, we've only gotten as far as Garfield.

Backstage, the dollar coin has been the subject of intense politicking between the vending-machine lobby and the congressional delegation from Massachusetts, where the company that provides the paper for our currency is based.

The United States is the only major country whose basic unit of currency is not a coin. The Europeans have 1- and 2-euro coins, plus 1-, 2-, 5-, 10-, 20- and 50-eurocent coins.

It is generally agreed that the only way a dollar coin will be accepted is to phase out the paper bill it is replacing. The Canadians did that starting in 1987 when they introduced the $1 loonie. But they're made of sterner stuff up north.

Or maybe Americans are just funny about their money. After all, we insist on producing pennies, even though it costs more to make the coin than it's worth, and when we get them we don't spend them.

Every weekday JewishWorldReview.com publishes what many in in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here.

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Previously:


12/14/11 TSA might try trusting its own people
12/12/11 That $1.2 billion? It's around here some place
12/09/11 State Department Creates ‘Virtual Embassy’ For Iran
12/08/11 If you've ever tweeted, you're in the Library of Congress
12/07/11 Discoveries go to the core of what makes us humans
12/06/11 Stealing elections badly in Russia
12/05/11 Sometimes paranoia is common sense by another name
12/02/11 When the U.S. truly became one nation
12/01/11 Last chance to snap up a Maybach
11/30/11 Iran wants respect without earning it
11/29/11 Surprise! ‘Spider-Man’ may weave a profitable web
11/28/11 Italians entertain novel proposition: Paying their taxes
11/25/11 No time to let up on al-Qaida
11/24/11 Congress Quietly Abolishing Friday
11/23/11 Cleaning up after supercommittee implosion
11/22/11 Jailing minors with adults adds to problems
11/21/11 Brilliant strategy? Action by inaction
11/18/11They're going to eat horses, aren't they?
11/17/11 A pretend stick shift for pretend drivers
11/16/11 Clinton's ‘vast experiences’: Did NBC pick the wrong Chelsea?
11/15/11 Occupy protesters, you've made your point. Now, scat
11/10/11 Our vets are a national problem?
11/09/11 Requiem for a once-great sport
11/08/11 A toilet as smart as its occupant
11/07/11 Prerevolutionary gems in need of TLC
11/04/11 Feds must stop scam of stealing from dead children
11/03/11 Bank listens ‘very closely’ to customer lynch mob
11/01/11 TV that's leading the people away from ‘core socialist values’
10/31/11 NATO should not be a victim of its success
10/28/11 Iran mulls getting rid of president and presidency
10/27/11 Bienvenidos a Dayton and bring your businesses with you
10/26/11 Archivists long for Obama's teleprompter
10/25/11 United Nations to run the Internet?
10/24/11 Attention, world: You've got the cash. We've got the houses
10/19/11 Oil pipeline must be in America's future
10/18/11 U.S. plans ‘limited’ mission in an Africa with no limits
10/17/11 Social Security's grave mistakes
10/12/11 NASA's help-wanted sign for astronauts
10/10/11 Saving Thomas Jefferson''s chimneys
10/06/11 Uncle Sam's answer to deadbeats --- robo-calls
10/04/11 Christie should ignore jibes on his weight
10/03/11 Iran says its warships will head for Jersey shore
09/29/11 Europeans bristle at Obama's lectures
09/28/11 Jessica Rabbit for the defense
09/27/11 Russia learns outcome of next March's presidential election
09/26/11 Another try at leaving no child behind
09/23/11 This generation needs a job more than a name
09/22/11 In the lane next to you: A driverless car
09/20/11 Cloudy, cool, chance of falling satellite
09/14/11 Humanitarian extortion
09/13/11 Paging Dr. Watson; he's there in 3 seconds
09/09/11 Forecasting 100 percent chance of heavy metal
09/08/11 A jobs program at Obama's doorstep
09/07/11 Iran's government afraid of the water
09/06/11 Congress returns, tanned, rested and testy
09/05/11 Space nations must clean up after themselves
09/02/11 Osama bin Laden died a failure and he knew it
09/01/11 Time to retire political pie in the face
08/31/11 Labor Day celebrates what, exactly?
08/30/11 These arrestees really are framed
08/25/11 When in an earthquake, block traffic
08/23/11 A case for discretion in deportation arrests
08/22/11 Tough times or not, parents shell out for school
08/18/11 Being unpleasant for fun, profit, promotion
08/17/11 Time to prepare for the end game in Libya
08/16/11: ‘Super Committee’ starts facing reality
08/15/11: World's fastest plane disappears even faster
08/12/11: British cops track rioters through security cameras
08/11/11: Relax. There is no Death Star
08/10/11: House pages run final errands
08/09/11: U.S. treading water on job creation
08/08/11: Uncle Sam, the world's permanent guest
08/05/11: Most 9/11 victims not on federal death records
08/04/11: Russian PM calls U.S. a ‘parasite.’ He should be so lucky
08/03/11: Congress goes from one bind to another
08/02/11: D.B. Cooper may no longer be a mystery
08/01/11: Libya's latest weapon against NATO --- lawsuits
07/29/11: He'll always be known as Hot Wheels Handler
07/25/11: Recruiting children to save a dying town
07/22/11: Bachmann's admirable medical candor
07/12/11: Social Security's grave mistakes
07/08/11: Debt crisis need not be constitutional crisis
07/07/11: Startups entice new talent with kickball, treehouses
07/05/11: Stranded tourists get rare treat
06/30/11: The dollar Americans refuse to spend
06/27/11: The hangman doesn't cometh





© 2011, SCRIPPS HOWARD NEWS SERVICE

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