Trump orders us to throw away the “silly” penny “right,” says Kevin O’Leary
O’Leary Ventures Chairman Kevin O’Leary shares whether he is interested in President Donald Trump’s tariffs on steel and aluminum, the fate of US penny, and whether he is interested in handling Tiktok sales.
President Donald Trump One cent away from US Penny and “Shark Tank” star Kevin O’Leary agreeing to him.
“For too long, the US has been casting pennies that cost literally more than two cents,” Trump said. I wrote about the true society. “This is a lot of waste! I have instructed my US Treasury secretary to stop production of new penny.”
When he appeared on Monday’s “Varney & Co.” O’Leary said he was “right” in his demand that the president stop making.
Elon Musk’s Doge faces his first legal challenge within hours of his inauguration
“That’s stupid. Why do you pay $0.02 for one worthy item?” asked O’Leary.
In 2024, the US had to pay $3.69 to earn a penny, $5.76 to earn a dime, $13.78 to make a nickel, $14.68 to make a quarter, $14.68 to make a quarter.
FOX Business’s “Lydia Hu” reports on its current government efficiency plan to reduce spending while appearing in “Varney & Co.”
“Who uses pennies anyway? Unless you put them in your loafers, unless no one else does it anymore. Get rid of it. That’s no use,” O’Leary said.
Government efficiency (DOGE), that is Leading by billionaire Elon MuskPenny posted on “X” suggests that he is spending thousands of dollars on US taxpayers, which could be one of the items the department might think to eliminate. It suggests.
Elon Musk warns that the Federal Reserve could face a Doge audit
But there are critics pushing back This move by the president.
“Eliminating Penny would cost the government.” Mark Weller, the American executive director of Common St., told Fox Business.
US Treasury Secretary Scott Bescent addressed President Donald Trump’s economic and financial goals in his first interview on “Kudrow” since joining the administration.
He continues, “Without pennies, nickel production can double and mint can be aggravated. Economic loss. Structural changes to US currency should include an evaluation of nickel updates and mint overhead. ”
In the United States, it was one of the first coins created by the US Mint after it was founded in 1792. When first produced, the coin was large and made of pure copper. That’s what the small coins today are like It is mainly made of zincaccording to the US Mint.
For more information about Fox Business, click here
Fox News’ “Greg Wenner and the Fox Business” Daniela Genovese contributed to this report