Wednesday, September 23, 2009

Cash for Clunkers a "Complete Waste of Taxpayer Money"

“This program was very good at getting product off the lot, but there haven’t been long-term benefits,’’ he said. “Dealers are reporting that showrooms are pretty dead right now.’’

“It was probably, in the end, a complete waste of taxpayer money,’’ said John Wolkonowicz, a senior auto analyst at IHS Global Insight, Lexington forecasting firm.


eh said...

And a lot of the money went to buy foreign makes. You have to wonder how many US jobs that created.

And look how many not-all-that-old vehicles were destroyed (presumably) -- per the link, the top trade-in was a '98 Explorer.

CP said...

You can watch them destroy a lot of respectable old cars on YouTube...
Not smart.