Cash for clunkers, a new government entitlement?

August 4, 2009

The great Stan Collender over at Capital Gains and Games makes a point I wish I would have concerning cash for clunkers:

If the Senate goes along this week, spending will be increased substantially — $2 billion is still a great deal of money — so the dealers and manufacturers that want to sell more new cars will continue to have a federal subsidy to do so and the clunker owners who moved too slowly to get the benefit in the first few days will still be able to participate. … At most this is a reconfirmation that very little has really changed in the budget debate. Even those who over the past few months have been routinely and resoundingly criticizing the federal deficit as being too high are willing to tolerate it being even higher if they personally benefit from the spending increase or tax cut being considered. It’s still everyone else’s subsidies, benefits and tax reductions that are questionable.


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Look into the point that Peter Schiff makes about the clunkers program.

Posted by dvictr | Report as abusive

I think that this program is the MOST WASTE of money there ever was. Why in the name of sensibleness, are they pouring into the engine a glass like substance that kills the automobile? A lot of these automobiles are really not “clunkers” but good used cars that people that don’t have much mone can buy! How more stupid can our government get only to make money move around? Government needs to keep their nose out of business and let business take care of itself. I hate paying taxes for such foolishness! We close down auto plants, we put more and more people on the street out of work and we come up with some hairbrain scheme to supposidly solve the problem. This country has lost it’s vision and bearing. Only the Lord can straighten it out!

Posted by Howell | Report as abusive