Donald Trump, the 47th president of the United States, cannot seem to stop making the headlines, as, in a new move, the head of the largest economy in the country has decided to stop the minting of the renowned pennies in the United States.
Trump Scraps Pennies
Here, a penny in the United States is 0.01 or a US Dollar.
In a post on Truth Social, Trump said the following: "For far too long the United States has minted pennies which literally cost us more than 2 cents."
One again, Donald Trump based this major decision on the economics of the deal.
Wasteful Pennies
According to him, process of minting pennies is wasteful.
Trump further added, "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 demand to scrap the pennies altogether has been a persistent demand among many in the United States, who have often found the minting of the currency a matter of vanity and unresourceful.
In addition, although a legal tender, its usage is largely obsolete. This has made many frugal minds demand for stoppage of the practice of making these coins.
Elon Musk Reacts
These pennies have famously been a symbol, that has carried impression of former US president Abraham Lincoln.
Elon Musk, Donald Trump's de facto and unofficial lieutenant, and the head of the Department of Government Efficiency or DOGE, has welcomed the decision.
In his post on X, Musk reacted to this decision with a single emoji reaction to the post.
Elon Musk, the chief of Tesla, SpaceX among other companies has been given the task of trimming expenditure and reducing the size of the government.
His department, which does not head officially, has been accused of rampantly accessing various departments (about 12 so far) to carry out cost-cutting, without a contingency plan in place.
