By Angela Rodriguez |Staff Writer| During a recent online chat sponsored by Google, President Obama announced his support in retiring the penny and suggested the one cent coin is a “good metaphor” for some of the larger problems facing lawmakers as they seek to reduce the deficit. “I will tell you right now, this will not be a huge savings for government, but anytime we’re spending more money on something that people don’t actually use that’s an example of something we should change,” said Obama in the Google+ Hangout chat. The penny has long been criticized for being costlier to mint than it’s worth. According to the U.S. Mint 2011 annual report, the copper one cent coin costs … [Read more...] about Obama advocates for pushing the penny out of circulation