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