Saturday, August 1, 2009

Cash for Clunkers to the nth power

Just a quick observation.

The federal government's so-called Cash for Clunkers program offers citizens $4500 for their old car if they trade it in for a newer model. Congress in all its wisdom set aside $1 Billion for this program and scheduled it to run from the end of July to mid-November.

The program ran out of money in FOUR DAYS. Congress has now tripled the program's budget just to keep it afloat for a while longer. I mean, think of all those car dealers who bought ad campaigns for the program. The ad campaigns would last longer than the program did.

So how do you think "free" government health care is going to work?

Congress is expecting to pay -- so far -- a little under $1 TRILLION on this over the next ten years.

What do you want to bet the program will run out of funds in less than one year -- or even quicker.

And the feds are claiming that Cash for Clunkers is a resounding success. Will they make the same claim when citizens are seeing more than half their incomes confiscated to pay for socialized medicine?

More important, will you?

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