Well well well, did anyone see how quickly the House of Representatives moved to throw more money into the "Cash for Clunkers" program? As stated before in my previous entry, the government incentive program which allows folks to trade in gas guzzling, CO2 emitting hoopties for newer eco friendly models, has proven to be too successful. The National Dealers Association revealed that the pace of the car sales would far exceed the original $1billion that was allocated to the program.
I wonder if the Senate will approve this additional $2billion. Democratic Senator Clair McCaskill from Missouri is not too fond of using this money for the program. She believes that subsidizing auto purchases for a long period of time is not necessarily a good thing. I understand her point, but I also remember that us taxpayers had to subsidize AIG and the rest of that ilk because the companies were so greedy and lazy as to let crappy toxic assets clog their portfolios.
Shouldn't the average American get a little jolt too? Besides, the more cars purchased maybe the more ordered from plants. The more ordered from plants, the more part suppliers utilized, which in theory could lead to job creation. Maybe I am getting ahead of myself, but who knows.
Bring on the Clunkers!
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