Cash For Clunkers – Federal Scam?

Five days in, 250,000 vehicles and $1 billion supposedly doled out, the federal “Cash For Clunkers” (Car Allowance Rebate System or CARS) program stalls. Tens of thousands of ill informed Americans have flocked to their local new car dealers to separate themselves from their old “Clunkers” for the opportunity to take advantage of the up to $4500 towards a new car. Sounds good, right? Not so fast.

Why am I skeptical? Why do I refer to these opportunists ill informed? Let me explain, in my own opinion.

To start off with, the feds are throwing money at a problem once again. As the initial $1 billion has been exhausted, Congress is working to appropriate another $2 billion in additional funding for the program. That’s another $2 billion of YOUR tax dollars. They just love to spend other people’s money. Let’s stop this out of control spending! Read the rest of this entry »