Federal Gov't Cannot Print Way Out of Debt...

[Smiling JOe]

The federal gov't can't even print itself out of debt:
From yahoo news

"More than 1 billion unusable bills have been printed. Some of the bills creased during production, creating a blank space on the paper, one official told CNBC. Because correctly printed bills are mixed in with the flawed ones, even the ones printed to the correct design specs can't be used until they 're sorted. It would take an estimated 20 to 30 years to weed out the defective bills by hand, but a mechanized system is expected to get the job done in about a year.

[Related: Design firm seeks to rebrand dollar with Obama's image]


Combined, the quarantined bills add up to $110 billion -- more than 10 percent of the entire U.S. cash supply, which now stands at around $930 billion.
The flawed bills, which cost around $120 million to print, will have to burned.

 

[sunspotbaby]

:roll: why am i not surprised?

wish there was a 'dislike' button.

 

[scooterbug44]

How much of that waste would have been prevented by a human noticing the error early on?

My guess is that all of those bills weren't printed in 1 day and the oversight (like all of government it seems) wasn't there.

 

[sunspotbaby]

How much of that waste would have been prevented by a human noticing the error early on?

My guess is that all of those bills weren't printed in 1 day and the oversight (like all of government it seems) wasn't there.

I worked in a print shop for 3 years. It was my job to find printing mistakes during print runs. It's called Quality Control. Obviously the Feds haven't ever heard of it. :roll:

 

[Lake View Too]

I worked in a print shop for 3 years. It was my job to find printing mistakes during print runs. It's called Quality Control. Obviously the Feds haven't ever heard of it. :roll:

With all that is going on, does it really seem too far fetched to fire every single Federal employee? Perhaps, only perhaps, re-hire the ones that will do an honest day's work for an honest day's pay.

 

[Matt J]

I worked in a print shop for 3 years. It was my job to find printing mistakes during print runs. It's called Quality Control. Obviously the Feds haven't ever heard of it. :roll:

Ever seen an Intaglio run at full speed?

What the article leaves out is that the bills are serialized and they have to account for any that don't meet QC. That's where the time issue comes into play, you can't just go through a stack and throw out the misprinted bills, you have to account for them and pull them out of inventory.

The article itself has a misleading trollish title since printed money doesn't represent the countries wealth.

 

[Smiling JOe]

Did you read the article, SWGB? It isn't misleading and isn't trolling. It is about the government's "oops!" which costs $120,000,000.

 

[Andy A]

Aw, come on. Its only $120,000,000. A drop in the bucket. Never mind it shows the complete ineptitude of a branch of the Federal government. Its money well spent.

 

[Matt J]

Did you read the article, SWGB? It isn't misleading and isn't trolling. It is about the government's "oops!" which costs $120,000,000.

Aw, come on. Its only $120,000,000. A drop in the bucket. Never mind it shows the complete ineptitude of a branch of the Federal government. Its money well spent.

I forgot to ask, when was the last time the printers made a mistake?

 

[Smiling JOe]

Even if the last printing mistake was made 100 years ago, that's not a good average cost of an oops, in my opinion, but if you like the gov't wasting money, I guess you don't have a problem with that. "Just tax the wealthy. They can pay for that screw up, right?"