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14 November 2009
It Feels Good to Be Vindicated!
All of those optimists told me I was a naysayer, a pessimistic debbie downer for being one of the few who cast doubt upon the universally celebrated "Cash for clunkers" program. I said the environmental impact and economic impacts from the program will be essentially nil and it will only be transferring money from the government to auto-phile Americans. Some degree of vindication was received today when I read that the most common transaction under the program was trading an old Ford F-150 for a new Ford F-150. The improved gas mileage? Between 1-3 mpg. What a waste of money in the name of environmentalism.
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Blehh, the program should have had much stricter guidelines for the minimum improvement necessary to take part in the program. Demand was through the roof as it was, so I think the government could have gotten away with making the trades limited to only those with more dramatic positive environmental impacts. After all, the program wasn't designed soley to help the terribly inefficient american automotive industry..
ReplyDeleteYes, but from an economic standpoint the cash for clunkers program was also a complete bust. I will elaborate on this point further later!
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