Now, the Bureau of Engraving and Printing will have to reprint at least $3 billion in hundred dollar bills after a printing error rendered the money useless, The New Yorker reports. And you thought that liberal arts degree you got was a waste of cash.
The flaw occurred after the U.S. implemented a new design to prevent counterfeiting. The pathetic irony is that in taking these measures, they’ve certainly ended up creating plenty of bills that will never be counterfeited.
Because of an error dubbed “mashing,” a printer caused some of the ink on the new bills to print outside the intended lines. This is the second printing error with regard to these new hundreds, as the bills were originally supposed to be ready for circulation in 2011. You’d think an organization that’s only reason for existence is to print money would have some expertise as to how to actually print money.
Not only are 30 million hundred-dollar notes being returned to the bureau, but thirty billion dollars’ worth awaits examination. Think about that poor sap who now has to spend eight hours a day thumbing through thousands of dollars that isn’t even worth stealing.
And while it may not cost any one of us $3 billion, it’ll still cost some of our hard-earned moolah. According to the New Yorker, “Taxpayers will have to pay to inspect, correct, produce, transport, and secure all the additional money that will replace the botched notes. Disposing of the bad bills? That’s on taxpayers, too, as are the additional hours spent making up for the mistake by employees of the bureau.”
So, if you ever wondered whether your tax dollars were going to waste, well, now you know. But at least this $3 billion will never go to waste because it isn’t legal tender.
[Source: A blunder at the money factory]