Breaking News: More Money For ‘Cash For Clunkers’
July 31, 2009
House pumps an additional $2 billion into cash-strapped ‘Cash for Clunkers’ program.
Senate votes next week.
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As with most government programs, the success of the “cash for clunkers” program is not measured in how well the consequences of the program align with the stated goals of its advocates. Nor is it measured by any economic impacts the consequences might cause. Instead, just like the example of the public library in George Dance’s recent article about Booze and books, the success is measured by participation or usage, not by any measure of the value provides or harm it does to our economy. The trick is to define the program specifically so that it has a known demand so the usage is high. Media spin and politics will make sure the right people hear the program was successful and beneficial. I heard a bit on NPR just today about the downstream benefits that recycling all these old cars has. Ridiculous of course, but the perception amongst the voters is far more important than the actual results and consequences. Certainly there will be follow-on programs, cash for major appliances, cash for tools, etc.
“Cash for Clunkers” is Government issued fiscal heroin…
The Government tinkers with the auto-market, small businesses get screwed.
Local car dealerships suffer because their four-month business plan is in shambles and they are facing uncertainty because (shocker) government already has a backlog of paperwork on the transactions.
Radio/TV stations suffer because scheduled ad-buys go away.
Auto parts recyclers are hit because they’re not allowed to take the engines or drive trains (a prime revenue source) from the cars before they are crushed.
And people in need of cheaper cars have fewer options, as a quarter-million working, cheaper, clunkers are destroyed.
This is Obama Economics shifted into high gear. The subsidy won’t add to net national wealth, since it merely transfers money to one taxpayer’s pocket from someone else’s, and merely pays that taxpayer to destroy a perfectly serviceable asset in return for something he might have bought anyway.
So..
Why not have a $4500 Government Subsidy for Everything…
And now, Timothy Geithner is going around to the Sunday News shows and saying that it is not a matter of if taxes will be raised for the middle class, it is WHEN!!!
IN the meantime enjoy your new Chevrolet you got for trading in your clunker 1982 Datsun B210.
“When the people find they can vote themselves money that will herald the end of the republic.”
— Benjamin Franklin
This is great news. America has spoken with the need for this program by buying nearly 200,000 cars as a result of this program. And now there is more money for more cars that will help the economy and the environment. America wants this program, and Congress heard us!!
I agree…make the MPG standard higher for the cars to be bought.
Might it be better to boost the requirements a bit, now that we know the demand is strong for upgrading? Get a little more bang for our buck… just a thought