Jason Furman, a notable economist and former Chair of the Council of Economic Advisers under 44th U.S. President Barack Obama, expressed regret over not abolishing the penny during his tenure, according to a post on X on Sunday. What Happened: Furman said, “One of my (many) failures in govt was not getting rid of the penny. I tried—with President Obama publicly supporting the effort—and failed.” He further suggested transitioning to a single decimal currency system, where new pennies would be worth 1 cent and new nickels 5 cents. Furman attached a New York Times article titled “America Must Fr…
