You Better Trade In Your Clunker By Tuesday

car dumpster clunkers

On Friday it looked like the popular Cash-For-Clunkers show would go on, with Obama promising the popular program would continue, and the House having voted to dump $2 billion more into the pot.

But there’s still that pesky institution known as the Senate, and unless they approve the House’s measure by Tuesday the program really will be over says Transportation Secretary Ray LaHood.

And that’s apparently no done deal.

Despite the popularity of the program, Republicans may try to take a stand against it, says Politico, though unless they’re willing to filibuster they can’t do too much.

Somehow it will sill probably pass. But it shouldn’t. The law is silly. It’s a waste of money. It’s a subsidy to car companies, and at best it’s just pulling demand from the future, kicking the can down the road like every other program we’ve had. Someone’s gotta pay for it, right? Might as well be kids who can’t vote. But then, at least they’re getting driven to school in a new car, so they shouldn’t be complaining.

Update: Read James Hamilton at EconBrowser:

One of the more embarrassing features of the New Deal was the Agricultural Adjustment Act of 1933, which paid farmers to slaughter livestock and plow up good crops, as if destroying useful goods could somehow make the nation wealthier

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