The "penny" has recently come into the spotlight over whether or not it should continue to be a U.S. coin. Analysts have determined that because of rising inflation, by the end of this fiscal year the penny's production costs will exceed its actual value (approximately 1.23 cents, to be exact). Not to mention, the cost of making a nickel will be 5.73 cents.
Are we on the rise of an updated monetary system? Is the real solution to simply "throw" money away, or perhaps should we find a way to strengthen the economy and thus increase the penny's value ? I'm leaning towards the second idea, although I must admit, its based on my affection towards that humble piece of zinc and copper.
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the debate of raising minimum wage to something over seven dollars has also arisen.
now, how exactly does someone "strengthen" the strongest economy in the world...? i'm glad i'm not the one to figger it oot... ;)
-jenn
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