Friday, July 31, 2009

No more cash for clunkers...after 1 week

Does anyone in the Obama WH understand the basic of economics? If you provide people an incentive, they will take advantage of that incentive. Something they didn't think through when coming up with their "cash for clunkers" program.
Passed by Congress in late June to help the flagging U.S. auto industry and launched just a week ago, the $1 billion program gives vouchers worth up to $4,500 to consumers who trade in gas-guzzling cars for more fuel-efficient models. The highly publicized effort was scheduled to run until Nov. 1, or until money ran out. It was not expected to run out of cash so quickly.

You know what I think we should do? I think we should let these geniuses take over the health care industry. What could go wrong?

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