Galt's Gulch

'Cash for Clunkers' an even bigger lemon than thought

Posted by robgambrill 9 years, 9 months ago to Government
7 comments | Share | Flag

A study indicates that the car rebate stimulus program may have done more harm than good.
SOURCE URL: http://www.foxnews.com/politics/2014/08/11/texas-am-study-cash-for-clunkers-even-bigger-lemon-than-thought/

Add Comment

FORMATTING HELP

All Comments Hide marked as read Mark all as read

  • Posted by CircuitGuy 9 years, 9 months ago
    The program paid people to trash perfectly good cars by running a chemical in the oil that would destroy the motors. It was disgraceful. It destroyed cars typically used by the poor. It's one of the most disgraceful things gov't did in the name of helping in my lifetime.
    Reply | Mark as read | Best of... | Permalink  
  • Posted by Technocracy 9 years, 9 months ago
    The other consequence they don't talk about is that it gutted the used car market at the low end. People that need cheap cars quickly found out they were disappearing like the dodo.
    Reply | Mark as read | Best of... | Permalink  
    -
  • Posted by $ jbrenner 9 years, 9 months ago
    "Cash for clunkers" was the final straw for me.
    Reply | Mark as read | Best of... | Permalink  
      -
    • Posted by CircuitGuy 9 years, 9 months ago
      Intentionally destroying something, esp something that would have otherwise been sold to the poor, goes against my nature.

      The environmental issues are important, but there's an environmental cost to trashing a usable car too. The cars were inefficient, but so is destroying them. I couldn't make myself poor sand into a working motor's oil and then run it until the sand tears the insides apart.
      Reply | Mark as read | Parent | Best of... | Permalink  

FORMATTING HELP

  • Comment hidden. Undo