President Donald Trump’s radical rule includes bold statements, immediate policy implementations, and a vow to eradicate the unfair changes that could make America great again. His historic victory over Democratic nominee Kamala Harris in the November 2024 elections marked one of the most significant political comebacks in contemporary US history. The inauguration ceremony, attended by several prominent world leaders, was held inside the US Capitol Rotunda.
Owing to Trump’s sudden moves, in recent news, Donald Trump has directed the US Treasury Department to stop coining new pennies as the president agreed to yet another of Elon Musk’s ideas amid growing concern about the Tesla CEO’s rapidly extending power.
Trump called pennies “wasteful” as he announced the decision on his Truth Social site during his Super Bowl appearance on Sunday night. He wrote, “For far too long, the United States has minted pennies, which literally cost us more than 2 cents. This is so wasteful! I have instructed my Secretary of the US Treasury to stop producing new pennies. Let’s rip the waste out of our great nation’s budget, even if it’s a penny at a time.”
The change comes from Elon Musk’s Department of Government Efficiency (DOGE) pointing out the high cost of penny production in a post on X. “The penny costs over 3 cents to make, costing US taxpayers over $179 million in FY2023. The Mint produced more than 4.5 billion pennies last year, making up about 40% of the 11.4 billion coins minted for circulation. Penny (or 3 cents!) for your thoughts,” the department stated. As per The Mint, the penny was first issued by the government in 1793. Since 1909, the profile of President Abraham Lincoln has adorned the obverse side of the coin, which is made of zinc and copper.
As per The Irish Star, in the 2024 fiscal year, the US Mint declared a loss of $85.3 million from producing nearly 3.2 billion pennies, with each one costing nearly $0.037 to manufacture—an increase from $0.031 the previous year. However, it remains uncertain whether Trump has the authority to eliminate the penny on his own, as Congress determines currency principles.
Moreover, Robert K. Triest, an economics professor at Northeastern University, suggested there might be a legal pathway. “Discontinuing the penny in the US is a complex process. It would likely require congressional approval, but the Secretary of the Treasury might have the authority to halt new penny production simply,” he explained last month.
View this post on Instagram
Trump’s decision to stop minting pennies appears to be just one of several controversial actions influenced by his newly appointed “special government employee,” Musk. In a matter of weeks, the SpaceX CEO has disrupted US politics with his push to overhaul the federal government. Meanwhile, judges have also banned Donald Trump’s plans for mass federal buyouts and efforts to place thousands of USAID employees on leave. Now, Trump administration officials are questioning the judiciary’s authority to limit executive power.
Musk has led efforts to gain access to classified country databases, played a key role in persuading federal employees to take “deferred resignations,” and even announced the closure of an entire federal agency. However, these drastic measures have faced legal roadblocks, as courts have temporarily halted Trump and Musk’s attempts to dismantle agencies and slash federal jobs.
Instagram पर यह पोस्ट देखें
On 8 February 2025, a federal judge ruled against Musk’s DOGE, blocking its access to Treasury Department records containing sensitive personal data, including Social Security and bank account details of millions of Americans. In response, Musk demanded the judge’s impeachment, stating, “A corrupt judge protecting corruption. He must be impeached NOW!”
