Cash for Clunkers Yields Net Loss

I and many others warned that the “cash for clunkers” program was an idiotic idea.  Well, the Wall Street Journal pretty much confirmed the program to be another example of waste via government silliness.  Sales for September were way down, and some guys from the University of Delaware calculated the net loss (yes, the costs outweighed the monetary benefits) to be $1.4 billion.  It’s just another example of government effectively deploying taxpayer dollars.

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