(CNN) – If Congress passes the COINS Act replacing the $1 paper bill for a coin, the U.S. government may be able to save billions in printing costs at the expense of a little more jangle in the average consumers' pockets. But what about the strippers?
That's what The Hill newspaper asked one of the bill's co-sponsors, Sen. John McCain, in a piece published Thursday. The question came from a separate 2011 story where the publication suggested strippers could suffer in a bill-less economy, with G-strings and garter belts far less accommodating of cold metal.
For his part, the Arizona Republican responded in stride in a Capitol Hill hallway.
"Then I hope that they could obtain larger denominations," McCain reportedly told The Hill.
According to The Hill, the 76 year-old McCain started answering questions from another reporter before a smile spread across his face and he shouted down the hallway to The Hill, "Fives, tens, one hundreds!"
McCain's office did not respond to a request for comment.
Officially called the Currency Optimization, Innovation, and National Savings Act, the COINS Act has been put before Congress multiple times in recent years. In the Senate it was most recently introduced in June as S.1105 by Tom Harkin, D-Iowa. McCain's fellow co-sponsors in the Senate are Michael Enzi, R-Wyoming, and Mark Udall, D-Colorado.
If passed, the bill would require Federal Reserve banks to stop circulating paper $1 bills within five years of the COIN Act going into effect.
Yeah, seriously, lighten up people!
Would like to see a $5 and $10 dollar coin too. Why not?
Really CNN? running a headline from a piece from some Washington rag published about an interview question made in 2011. Thanks for getting the NEWS out there. You can do real journalism instead of reading other journalists!!!
Shock the monkey, shock the monkey. A coin replacing paper dollars would probably bring about a rash of shocked monkies.
Might just as well spend more money that we don't have,,,, on making more, different money. Congress, one big drain on America's economy.
They have attempted this before and it resulted in tons of money wasted. They attempted the american president dollar coins at one point we were bulding a vault to hold all these unused coins while it might save money in printing when they go un used and un circulated there nothing but a waste.
At last... a flicker of humor from the old guy!
Good idea, but one thing needs to be done: Vending machines need to accept $20 bills. (and give quarters & $1 coins in change) Only reason I *ever* carry singles on me is because that's the only denomination vending machines around here accept.
The NYC Transit System is full of MetroCard machines that do exactly that.
I don't know whether to be heartened that he played along, or dismayed that he apparently thought it was a legitimate question at first.
He has sadly lost his mind and is now a perfect candidate for President
YOU CUT THE DEFICIT ONE DOLLAR AT A TIME. PUN INTENDED, AND YES I'M YELLING.
If it saves $100 or $100 Million, do it. Who Carries around more than a couple of singles at a time?
If you come up with 1,000 ideas like this, you can make a difference. Time for the penny to go, too.
How much does that save?
I think they should go down to 4 coins and 4 paper dollars. Penny, nickel, quarter and dollar coins. Combine that with 5, 20, 50 and 100 dollar bills. I also think they could color and size them so that they are distinguishable from each other easily. The coins are already sized and for the most part colored. Make it more clearly red penny (copper color), white nickel, and blue tinted quarters and gold tone single dollar coins. Then match the dollar bills 5 red, 20 white, 50 blue and 100 gold mostly just so they match in ascending color scheme. Also make the denominations a little larger for each larger bill. This is not uncommon in foreign countries. I might also help prevent phony bill from being used among our bills such as when a 100 is pasted on a single bill for example.
right, like someone wouldn't start sewing a pouch on the front of that G-string?
its a joke people that he was asked about. Quit taking things so seriously. You shouldnt be able to vote if you don't read all the stories or take one thing out of context.
That would make things more interesting... Does McCain know this first hand?
right, like someone wouldn't start sewing a pouch on the front of that G-string? and then they would have to put a false bottom in the pouch so the coins can go straight into the money maker.
>>I don't want dollar coins...they're too heavy!
What if they were $5's? Would the weight be right?
Did anyone read the story, he didn't some up with an oddball statement to support his position, a reporter asked him a stupid question. Misleading headline about a nothing story.
As technology is improving everyday, I would like to see Govt and vendors encouraging electronic payment. Why bother with currency bills or coins. Coming back to the topic, we do have 1 Dollar and 2 Dollar coins here in Canada and they last longer than paper bills.
It will never work. People simply hate those $1 coins because they always make them the same size as the quarters. If you make them the same size as the old silver dollars, then their too heavy. Stick with the $1 bills...
McCain should have slipped Palin a couple of $1 coins instead of adding her to his presidential ticket.
The coinage needs to be revamped also – the Euro is a mess, with several coins about the same size.
Work with both thickness and diameter – knereled edges just isn't enough if the size is the same
We could have a half-dime, a double-dime, half-dollar, dollar and a double-dollar in five distinct coins.