President Trump announced on Sunday night that he had instructed the Treasury Secretary to cease the production of new pennies. He believes this decision will contribute to reducing unnecessary government spending. Trump argued that penny production costs more than its value, with each penny costing the government over two cents to produce. He shared his views on Truth Social, stating that even small steps, such as eliminating pennies, are vital in streamlining the national budget and curtailing wasteful expenditures.
President Trump emphasized that he ordered the Treasury secretary to halt the production of new pennies as part of a broader effort to cut government spending.
In his post on Truth Social, Trump noted that even small actions, like stopping penny production, can contribute significantly to reducing waste in the federal budget.
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