Friday, August 21, 2009

Yet Still More “Cash for Clunkers”

The popular government subsidy to a) middle and upper middle class car buyers, and b) auto manufacturers, at the expense of a) the taxpayer, b) the poor and first time car buyers, c) junkyards and parts recyclers is finally winding down.

If you were a dealer, this probably seemed to be a good thing. Until the Obama Administration stiffed you for the promised payments. The fact that the administration didn’t set up a usable system, and imposed a clunker of a 10 page application, and then rejects 85% or so of the applications, certainly doesn’t speak well for their ability to take over healthcare, now does it?