Breitbart has an interesting article out today. It’s about the disastrous “cash for clunkers” program president Zero touted.
I won’t rehash all of the arguments against this massive bit of stupidity, I’ll just point out some things many of us said was going to happen in regards to this program before it happened. Much of it is detailed by the various links Breitbart provides.
“Cash for Clunkers” taxpayer-funded boondoggle artificially drove car prices up, not down, and unleashed an “environmental nightmare”.
For each ton of metal recovered by a shredding facility, roughly 500 pounds of shredder residue are produced, meaning about 3 to 4.5 million tons of shredder residue is sent to landfills every year. This shredder residue typically consists of a mix of materials including polyurethane foams, polymers, metal oxides, glass and dirt.
While some of the “Clunkers” were truly old, many of the almost 700,000 cars were still in perfectly good condition. In fact, many that qualified for the program were relatively “young,” with fuel efficiencies that rivaled newer cars.
Approximately 45 percent of the spending went to consumers who would have purchased a new vehicle anyway. Our results suggest no gain in sales beyond 2009 and hence no meaningful stimulus to the economy. In addition, the program will reduce CO2 emissions by only 9 to 28.4 million tons, implying a cost per ton ranging from $91 to $288 even after accounting for reduced criteria pollutants.
The fact is, the program didn’t do what the alleged intentions were. It was suppose to help clean the environment and stimulate the economy. It didn’t. Worse, it severely hampered the used car industry, forcing many used car businesses to close their doors. Worse yet, the economic detriment was focused on the poor of this nation. Where once they could spend a couple of $thousand for a decent used car, the program forced the price of used cars beyond the reach of our poor, losing their ability to seek and maintain a job, causing even more poverty.
The point is this. We said all of this was going to happen. It was plainly stated in the blogs, in the opinion pieces, and even on the air. All of it. Now, years later some are acknowledging we were right. Small consolation. But, it’s much worse than that. Now some are saying we were right, but, in the future will this be considered? Of course not. This will be dismissed without reservations. And, they’ll continue with their vapid thoughts and continue to implement their stupidity as policy.
We see this manifested in everything said and done today. While we were the first to say this will needlessly adversely effect the poor, we are cast as being indifferent to the poor. While we said this will cause environmental harm, we’re dismissed as being the ones who recklessly harm the environment. We told them this wouldn’t sustain an economic benefit, our thoughts on economic good is sneered at and completely ignored, all the while we continuously demonstrate much more advanced understanding of the issues at hand.
They simply refuse to accept reality. They simply refuse to learn.