Posted by JML755 on August 03, 2009 at 07:13:14 from (66.184.63.110):
In Reply to: Well how soon... posted by bob huntress1 on August 02, 2009 at 19:37:24:
Cash for Clunkers is a "feel good" program that will have no long-lasting impact. Other than to give a $4500 subsidy to anyone who probably would have bought a car anyway.
As Old said, it's giving away YOUR AND MY money to people who don't need it. Heck, I heard a story of a wealthy couple trading in their '95 Jag under the program.
Once the money runs out, car sales will drop back to a 10 mil/year rate.
Plus they're going to destroy a lot of good used cars. Many were good cars that could be bought by young kids who can't afford a car payment.
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