The Cash for Clunkers program ended yesterday. Aside from distributing $2.4 billion - out of $3 billion - in borrowed money to Japanese automakers, increasing the debt load of thousands of Americans, and destroying perfectly usable vehicles, this attempt at stimulating the American economy will have other consequences. The editors of National Review Online provide some observations on the program. If anything, Cars for Clunkers will be remembered for reconfirming that, indeed, the road to Hell is paved with good intentions.
If you love cars as much as I do, the videos in the link will bring tears to your eyes.
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