The so-called Cash for Clunkers program is turning out to be another fantastic money-blowing technique for Democrats.
$1 billion of what will soon be coming out of our taxed-pockets has already been spent and the House has approved another $2 billion dollars.
It seems that the ones benefiting most from this free cash will be the automakers. While the cash may not pass on to the companies directly, we’re just paying off somebody or the other to stimulate sales just for the automakers.
For us, it’s not really free, since we’ll be paying for it soon enough.
I can understand financial incentives for purchases to boost economic activity, but how much are we underwrite the bad decisions made by Detroit over the past several years. What $40 billion spent already in so-called loans? Many more billions in investor value wiped out and passed on to the unions?
How about a Cash for Plane Tickets? Airlines are hurting and they do employ thousands. What about a Cash for Old Appliances? Wait, we already have that with the $1500 “tax credit” for energy efficient equipment and installations.
As an aside, where’s the money from the main stimulus plan? Where’s that $787 billion going? Why do we need to keep spending more and more?
