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  • cash for clunkers

    Today’s Calamity: First Cash for Clunkers, Now Cash for Homes?

    Despite being extremely wasteful and creating questionable environmental benefits, the government labeled the cash for clunkers auto program a successful program that exceeded expectations. It worked so well – why not subsidize (again) the housing industry while we’re at it? Detailed in Section 203 of the Waxman-Markey cap and trade … More

    Cash for Clunkers Failed to Create Auto Jobs

    Congress passed the Cash for Clunkers program in order to increase automobile employment and save jobs. As Michigan Sen. Debbie Stabenow – a key supporter of the law – put it, “This is a jobs program first.” Cash for Clunkers has done many things. It has given hundreds of thousands … More

    Cash for Clunkers: This is What We Call Success?

    Politicians are touting cash for clunkers as a successful program that has killed two birds with one stone. By handing out taxpayer money to subsidize a portion of the cost of a more fuel efficient vehicle, the program is saving the economy and saving the environment. Although the program increased … More

    Watch Barack Obama Destroy Our Country's Wealth

    Yesterday we linked to analysis from Naval Postgraduate School Associate Professor David Henderson detailing how the Obama administration’s Cash for Clunkers program destroys, on average, $3,450 of our country’s wealth every time a car is destroyed through the program. Today, Capital University Law School professor Brad Smith brings us videos … More

    How Cash for Clunkers Destroys Wealth

    The Obama administration’s Cash for Clunkers program is supposed to run through 8 PM tonight, but as the Wall Street Journal reports, dealers across the country are ending their involvement early. The reason? “They worry that if a last-minute rush to enter applications jams the system, they will be on … More

    Get ‘Em While They Last: Cash for Clunkers Program to End

    From Bloomberg: “The U.S. “cash for clunkers” vehicle trade-in program, credited with reviving auto sales and criticized by dealers for slow reimbursements, will close on Aug. 24, Transportation Secretary Ray LaHood said.” The government extended the $1 billion program into a $3 billion program and although the program is now … More

    Cash for Clunkers: Robbing Peter to Pay Paul

    In this case Paul is the auto industry, as if they haven’t gotten enough help from American taxpayers, and Peter is the retail industry and, of course, the American taxpayer: “Retail sales outside of autos turned in a disappointing performance in July, underscoring concerns about the timing and durability of … More

    Cash for Clunkers Sentence of the Day

    “But don’t expect anyone in Congress to admit that taxpayers are paying around $6,000 to provide a $4,500 rebate for a foreigner or illegal immigrant to buy a new car. “ That’s Lurita Doan. She argues: “First, DOT created and staffed an entirely new organization with three divisions to administer … More

    Cash for Clunkers by the Numbers

    Ken Belson of the New York Times provides some interesting data points on the cash for clunkers program: The “cash for clunkers” program introduced last week appears to have been a success, at least based on the tens of thousands of consumers who streamed into their local car dealers to … More

    Missile Defense Is No Clunker

    For a President who is supposed to be in tune with America, one has to wonder what Barack Obama is  thinking! The latest polls show most Americans DO NOT WANT more cash for clunkers (only 33% want additional funding), which would benefit only a few people, most of them car dealers. … More