Trump abolishes the ‘wasteful’ penny in mid-Super Bowl social media rant ‘Let's rip the waste out of our great nation's budget, even if it's a penny at a time’, Trump said on Truth Social Sunday.
The Treasury Department also stated that costs had been driven up since the previous year with the penny’s unit cost increasing by 20.2 percent, the nickel by 19.4 percent, the dime 8.7 percent, and the quarter-dollar by 26.2 percent.
However, this came in tandem with a reported loss of $85.3 million in the 2024 fiscal year and a revelation that “the unit cost for pennies (3.69 cents) and nickels (13.78 cents) remained above face value for the 19th consecutive fiscal year.”.
President Trump has ordered the U.S. Treasury to axe the “wasteful” penny during a social media rant while watching the Super Bowl in New Orleans.
“Let's rip the waste out of our great nation's budget, even if it's a penny at a time”, Trump added in the Truth post.
