Financial Idiocy
Popular as it is, the Cash for Clunkers program was funded on borrowed money. A drop in the environmental bucket (yes, it took 250,000 gas-guzzlers of the streets), this endeavor boosts the auto industry more than anything else. Ford actually posted a profit in July, thanks in part to the clunker trade-ins. But is this government business? Since when do Americans fund individual corporations through their taxes? Probably more than I realize...
But now the government wants to borrow more money, or use more borrowed money, to extend this auto industry stimulus, when it's already accomplished its intended purpose? Read the details:
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