U.S. Government Has $1 Billion No One Wants
That’s right! In a time of recession, lost jobs, funding cuts to education, recod budget deficits,and alarming unemployment rates, the U.S. Government is sitting on one billion dollars that no one seems to want anything to do with.
The money is in one dollar coins at the Federal Reserve Bank in Maryland. Legislation was enacted in 2005 mandating that one dollar coins be minted, commemorating each US president. NPR’s ‘Planet Money” reports the American public is resitant to using one- dollar coins. Meanwhile, you & I are paying to store them.