Friday, August 7, 2009

Cash for Clunkers - how stupid!

Two billion more? How stupid!!!

The bail-out of the auto industry and dealers on the first billion was bad enough. That billion got spent much faster than Congress thought it would.

Hey, if you're giving away free money, what do you think would happen? That it would sit on the shelf forever?

How does the clunkers program work?

Trade in a "clunker" that gets 18mpg or less on one (another clunker? or must it be a new car?) that gets 22mpg, and get a $3,500 voucher.

If you trade that 18mpg clunker for one that gets at least 28mpg, then scarf up $4,500.

Congress thought the program "worked" so well that they poured another $2 billion down the drain.

Who pays for this? You do. Well, actually, you won't, but your great-grandchildren will.


tinfm said...

new cars only

Gus said...

My thanks to "ace" for pointing out that I had originally typed "mph", not "mpg".

Gus said...

Late this afternoon I read an excellent OpEd piece in today's Chicago Tribune by Jonah Goldberg, which included this wise sentence, "Washington is now agog with its successful effort to give out free money."

"How much is that old clunker on the car lift?" can be read in its entirety at,0,2787266.story

GeneL said...

Can we get $4500 for Nygren, I like to get a new model that doesn't cost the taxpayers so much.