Politics and Elections

Presidential Dollar Coins production downsized to save US Government $50 Million Annually

Presidential Dollar Coins - US Mint

(Best Syndication News) - The US Presidential dollar coins were not as popular as first anticipated and will be scaled back to save taxpayers' money. Since the 2005 Presidential $1 Coin Act, the US Mint has accumulated a 40 percent surplus of these coins that were returned to the Federal Reserve because not enough people wanted to use them.

Sitting in storage at Federal Reserve Bank vaults is over $1.4 billion in these Presidential dollar coins. Vice President Biden and U.S. Department of the Treasury Secretary Geithner said that this excess is enough to supply Americans with these coins for the next decade.

The US Mint plans were to make another 1.6 billion coins up until 2016. However, the Obama Administration is putting halt for producing more $1 coins to be used for circulation. However, the law still requires that the coins be minted in small numbers in order for coin collectors to purchase. The new coins would not cost taxpayers money to produce.

SuperCommittee Fails to Reach an Agreement

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(Best Syndication News) The supercommittee failed to reach an agreement this weekend in Washington setting in motion possible automatic budget reductions. This sent the stock market lower Monday as nervous investors begin to price-in a sweeping decrease in government spending.

The committee was constructed as a result of the debt-ceiling crisis and the Budget Control Act of 2011, which was passed on August 2, 2011. The sub-committee is composed of 12 members: six Senators and six Representatives. The members were split evenly among Democrats and Republicans.

Public Redistricting Meeting Announced

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(Best Syndication News) As the deadline for redistricting approaches, the San Bernardino County Board of Supervisors has announced a public meeting.

David Wert, spokesperson for the county, tells Best Syndication that the meeting will be held at noon on Friday, September 16th. This is part of the process to meet the November 1st cut-off date.

Wert says that the “first reading” of the ordinance will need to occur at least 10-days before the adoption of the plan. The ordinance can not take effect before 30-days after that. “Friday's meeting is an important step toward meeting the state deadline,” Wert said.

US Postal Service could face Default by the end of September

Priority Mail Box Credit:USPS.gov

(Best Syndication News) - The United States Postal Service may default if they cannot come up with $5.5 billion to pay for a pre-funded retiree health benefit plan, according to Postmaster General Patrick Donahoe. He warned that if legislation were not enacted by the end of this month, the Postal Service would default.

Donahoe explained the financial crisis to a Senate committee today. The $5.5 billion was a congress-mandated annual payment that the US Postal Service is not prepared to pay this year. Additionally, Donahoe said that in order to return to a profitable operation, the postal service would need to reduce their career workforce to approximately 220,000 by 2015. There is a problem with downsizing their employees because of existing collective bargaining agreements.

LULAC Contests San Bernardino Redistricting Plan

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(Best Syndication News) Although the San Bernardino County Board of Supervisors approved a redistricting plan, there may be a snag.

The League of United Latin American Citizens (LULAC) of the Inland Empire announced that the plan does not comply with the Voting Rights Act and offered three alternative plans of their own. The group will contest the current plan.

According to David Wert, spokesperson to the county, the organization stated that "there is still only one Latino majority district in San Bernardino County under the current draft maps proposed by the Board of Supervisors”. LULAC says that there should be at least two Hispanic majority districts.

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