SOME IN CONGRESS CONSIDER ELIMINATING THE PAPER DOLLAR

A recent study by the Government Accountability Office said the government could save about $5.5 billion over 30 years if it phased out dollar bills, which last about three years on average, and replaced them with dollar coins, which can circulate for three decades before they become worn out.

The projected savings have prompted some House Republicans, eager to pare government spending in these austere times, to champion a changeover. While doing away with the greenback has been debated for decades, many on both sides of the issue consider the odds, while still long, to be better than ever.

As a result, coin and bill backers have begun a lively back and forth over the merits of such a remaking of the country's currency. They disagree on whether the coin would excessively weigh down consumers and complicate transactions for business owners. And they are far apart on whether the government would reap the cost savings that the accountability office predicts.

To read the complete article, see: Hoping to Save Money for the Government, Some Seek an End to the $1 Bill (www.nytimes.com/2011/11/06/us/some-seek-to-replace
-the-dollar-bill-with-the-dollar-coin.html)

Wayne Homren, Editor

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