Many aspects of the debates that Washington politicians grumble over have little immediate effect on people's day to day lives.

The newest issue will be felt in the wallets of every resident. Literally.

A number of congressmen are hoping to replace the dollar bill with a dollar coin, suggesting that the move would help bring down the national deficit and increase the efficiency of U.S. currency.

Republican Representative David Schweikert from Arizona introduced legislation that he says will transition the standard U.S. dollar out of circulation in the next four years.

The motivations behind the bill are economic, he said.

'At a time when we are staring down a record-breaking $1.3trillion deficit, any common-sense measure that cuts billions needs to be given serious consideration,' Mr Schweikert said.

The bill that was introduced to the House of Representatives is named the Currency Optimization, Innovation and National Savings Act, which comes out with the handy acronym COINS.

'That is exactly what the COINS Act will do and why I am introducing it,' Mr Schweikert said.

There is currently a dollar coin in circulation that people can use, but it has not caught on in any significant way because dollar bills are still more widely used. If the new legislation is adopted, dollar bills will be entirely eliminated, making the dollar coin the only option.

To read the complete article, see:Will $1 bill be ditched? Congressmen plan to replace them forever with a coin(www.dailymail.co.uk/news/article-2048555/Will-1-
ditched-Congressmen-plan-replace-forever-coin.html)