Cash for Clunkers is bad newsThe House passed an additional $2 billion spending bill to struggling automakers for giving car owners a $4,500 subsidy to trade in clunkers for an energy efficient car to boost the economy.
By: Vicky Lampman, Red Wing, The Republican Eagle
To the Editor:
The House passed an additional $2 billion spending bill to struggling automakers for giving car owners a $4,500 subsidy to trade in clunkers for an energy efficient car to boost the economy. (How about a struggling people subsidy?) It will probably pass the Senate.
What a joke.
I disagree with this program, especially in this critical economy, along with all the other handouts given. It keeps the rich getting richer and the poor and poorer struggling more and more.
Quit all the bailouts. No more subsidies. Government subsidies of any kind are not only bad for the economy, they are morally blameworthy.
With all the money that’s been given out, each person could have received $2 million which would have probably solved the economy problem with consumer spending.
Let the market work its way back. Bailouts should have never started in the first place, but since they did it would only be fair to give it to everybody not only businesses, banks, automakers, etc.
Why do they deserve it and not the people? This is suppose to be a country for prosperity, but that chance is not there anymore.
The next time someone tells you that the unrestrained free market caused the economic recession, you should laugh in their face. Our market is no freer than the Chinese press. Between Congress’ laws, taxes, regulations (like those put upon the auto industry), and inflation (Federal Reserve) one section of the economy is harmed and another rewarded. My money and your money is stolen and given to someone else, and it ain’t the poor people.
I think we have all learned what eventually happens when we reward failure.