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A Clunker of a Bill



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Henry Payne on the side effects of the “cash for clunkers” program:

Worse, Democratic demands that the guzzlers be permanently shredded means that already hurting used-car and -parts businesses will suffer. By insisting that the cars not only be crushed — but also that their engines be disabled — Congress’s decree will penalize the industry at time when a dozen U.S. parts suppliers have filed for bankruptcy this year. [...]

The victims will be lower-income Americans who typically buy only used parts and vehicles. “Now you’re removing cars people could afford, and they’re not available anymore,” says Norm Wright, a Denver recycler. “There will be fewer cars to pull from, so the price of parts will go up.

Update: Government to suspend “cash for clunkers”?

WASHINGTON – Congressional officials say the government plans to suspend the popular “cash for clunkers” program amid concerns it could quickly use up the $1 billion in rebates for new car purchases.

They’ll probably lift the suspension as soon as they can appropriate another billion or so.



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