Financial flub: Fixing bills might cost feds a mint

San Francisco’s pension contribution is likely to increase more than expected.

San Francisco’s pension contribution is likely to increase more than expected.

WHAT: The federal government said it needs to check more than 1 billion new $100 bills because of production glitches.

THE PROBLEM:
The slew of holograms and high-tech anti-counterfeiting features on the new bills caused the paper to fold on the presses, leaving blank spaces and unwanted creases.

WHY IT’S OUTRAGEOUS:
It could cost the government millions of dollars — not to mention time and labor — to check and possibly reprint the bills. They were supposed to go into circulation in February, but that deadline likely will not be met. The government estimates that up to a third of the new money is flawed.

Daily OutrageOpinionOther OpinionSan Francisco

If you find our journalism valuable and relevant, please consider joining our Examiner membership program.
Find out more at www.sfexaminer.com/join/

Just Posted

A San Francisco Unified School District program that gave would-be teachers extra training in the classroom has lost a key partner. <ins>(Kevin N. Hume/2019 S.F. Examiner)</ins>
USF ends partnership with SFUSD in teacher residency program

District launched training effort to improve low retention rates for new hires

The Rev. Norman Fong of the Chinatown Community Development Center joined San Francisco city leaders and community partners in a “Campaign for Solidarity” at Civic Center Plaza on Saturday, Apr 17, 2021. (CraigLee/Special to the S.F. Examiner)
City launches ‘Campaign for Solidarity’ to combat racial violence

Mayor London Breed, the city’s Human Rights Commission and community leaders launched… Continue reading

It’s time to break the code of silence and end the stigmatism against infertility, which is fairly common. <ins>(Shuttterstock)</ins>
Struggles with infertility are common

We all can support friends, ask legislators to mandate sppropriate insurance

Former Stockton Mayor Michael Tubbs spoke to San Francisco’s new Guaranteed Income Advisory Group on April 16. (Courtesy SFGOV)
City launches task force to explore Universal Basic Income programs

San Francisco on Friday launched a guaranteed income task force that could… Continue reading

Muni’s K-Ingleside line will return six months earlier than previously announced. <ins>(Kevin N. Hume/S.F. Examiner)</ins>
K-Ingleside train to return on May 15

Announcement comes on the heels of pressure from Supervisor Myrna Melgar

Most Read