WHO'S GOING TO EXPLAIN TO MY DAUGHTER THAT WE GOT CARS, NOT PONIES?:

Report: Cash for Clunkers was a lemon: A study by Edmunds.com released Wednesday suggests that Cash for Clunkers mostly gave money to people who were going to buy a new car anyway. (Mark Trumbull, October 28, 2009, CS Monitor)

American taxpayers paid a lot of cash for those clunkers: $24,000 for each new car sold, according to a study released Wednesday. [...]

The government could have done almost as well by just giving away cars for free, instead of creating an elaborate incentive program, according to an analysis by the automotive information firm Edmunds.com in Santa Monica, Calif.

Worst of all, cars are wasting assets. We should have given people houses.

Posted by Orrin Judd at October 28, 2009 8:22 PM