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July 31, 2009

That Didn't Take Long...House Adds $2 Billion To "Cash For Clunkers" Plan

Sure, 2 billion is just pocket change but it's amazing how fast Congress can move when it wants too.

Congress is moving quickly to save the depleted cash-for-clunkers program, as the House passed a $2 billion spending measure Friday afternoon that would keep alive a program that has encouraged American car owners to trade in their old gas guzzlers for more fuel efficient vehicles.

Despite some criticism from Republicans who called the legislation another bailout for another industry, the bill easily passed on a 316-109 bipartisan vote.

...The Senate path will be more complicated, as the upper chamber will have to work through a dispute between Michigan lawmakers who want more generous terms on gas mileage than California senators seeking higher fuel efficiency rules.

Not everyone is enamored with the idea. Behold Democratic Senator Claire McCaskil.

We simply cannot afford any more taxpayr $ to extend cash for clunkers. Idea was to prime the pump, not subsidize auto purchases forever.

We put a billion $$ in cash for clunker program.That's 250,000 cars. We weren't sure how long it would last,but a billion of your $ is alot.

But a couple of hundred million for F-22s was 'waste'*.

For those who missed it earlier, here's a link to a take down of the program from a free market perspective.

Below the fold, Slu sends along his thoughts on the program.

*Yes the life cycle cost of F-22s are significantly higher than the purchase price but worrying about the out years is for suckers since few domestic programs are budgeted with any real concern for that (see Care, Health). At least with the F-22 we get years and years of blowing shit up. I like that.


cashclunk.jpg

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posted by DrewM. at 02:48 PM

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