Sen. John McCain: $1 Coin Will Help Strippers ‘Obtain Larger Denominations’
After helping introduce legislation that would help improve the circulation of $1 coins, a former presidential hopeful is making headlines for pointing out that they would help strippers.
Sen. John McCain teamed with Sens. Tom Coburn, Mike Enzi, Mark Udall and Tom Harkin to publicize numbers from the consumer advocacy group Citizens Against Government Waste that indicate switching from dollar bills to coins would save $13.8 billion over 30 years.
McCain called the move "one common-sense remedy" that could save a good deal of money. "Even in this town, $5.5 billion or $13.8 billion is not chump change.”
Daniel Harris, owner of Archibald’s Gentleman’s Club in Washington D.C., once said "you can’t put a coin in a garter belt.”
McCain isn’t concerned about the problem. He said he hoped strippers "could obtain larger denominations."
McCain cited the $1 coin's durability as a reason to increase circulation, The Huffington Post reported.
“The $1 coin is more durable –- by far out lasting the $1 bill," McCain said. "Dollar bills currently in circulation last only three years, where $1 coins last roughly 30 years. Basically, a single $1 coin can last as long as 17 dollar bills over the course of its lifetime."