Penny pinched? President Obama says he’d get rid of it

Celebrating Abraham Lincoln's 200th birthday, the U.S. Mint releases a new penny showing Abraham Lincoln speaking to the Illinois Legislature, at the Illinois Old State Capitol in Springfield, Ill., Thursday, Aug 13, 2009. (AP Photo/Seth Perlman)

Penny pinched? Obama says he'd get rid of it

President Barack Obama said Thursday he would support getting rid of the penny. In response to a citizen question during a Google Hangout "fireside chat," the president said that minting 1-cent pieces is symbolic of wasteful spending in Washington.What did Obama say exactly?(Official White House Photo by Pete Souza)"I will tell you right now, this will not be a huge savings for government, but anytime we're spending more money on something that people don't actually use that's an example of …

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