Economists can argue back and forth in the media about the effect of big government programs such as the stimulus package and Obamacare but few things have illustrated government waste as effectively as this disturbing video.
Read a sampling of YouTube comments which are in sharp contrast to the glowing praise of the Cash for Clunkers program
UPDATE 04 AUG
The Obama administration is refusing to quickly release government records on its “cash-for-clunkers” rebate program that would substantiate — or undercut — White House claims of the program’s success, even as the president presses the Senate for a quick vote for $2 billion to boost car sales.
Obama administration withholds data on clunkers
LaHood, for example, promotes the fact that the Ford Focus so far is at the top of the list of new cars purchased under the program. But the limited information released so far shows most buyers are not picking Ford, Chrysler or General Motors vehicles, and six of the top 10 vehicles purchased are Honda, Toyota and Hyundai. Read More
UPDATE: 05 Aug
`Cash for Clunkers’ Has No Effect on Pollution, Climate experts aren’t impressed.Calculations by The Associated Press, using Department of Transportation figures, show that replacing those fuel hogs will reduce carbon dioxide emissions by just under 700,000 tons a year. While that may sound impressive, it’s nothing compared to what the U.S. spewed last year: nearly 6.4 billion tons (and that was down from previous years).
This Obama program will put many good used car dealers out of business, and more workers will lose their jobs.