Cash for Clunkers: An(other) Obama Attack on the Poor
The government's "cash for clunkers" program has been in the news a lot this week. The money (our money) Congress voted to hand over to auto dealers (not customers really) was supposed to last until November; it's already gone. But this program is a Trojan horse that is going to harm to poor in America for years to come.
In the fine print of the program, the dealers are required to completely destroy the cars they take in under the program. The stock of used cars and even more importantly used car parts is being depleted, all to line the pockets of the politically connected car dealers. This was justified in the name of environmentalism and combating (nonexistent) global warming. But for not much gain (estimates vary, but the best ones I've seen suggest that the program might save one quarter of one percent of our gas consumption) there is going to be a lot of pain down the road. For those of us who aren't willing or able to purchase a new car, this program offers nothing except of course the opportunity to pay for it with our tax dollars. For those of us who are soon going to be in the market for used cars, the President's program offers higher prices and fewer choices...sounds like a preview of health care "reform."