Interesting article on USA Today about the “cash for clunkers” program. What did people use the program for? To upgrade their pickup trucks and SUVs. FAIL.
AP reports that for 8,200 deals — the most common — buyers traded in their old Ford 150 pickups for new Ford 150 pickups. Fuel economy for the new trucks is just 1 to 3 mpg better than the clunkers — less than 20 mpg.
Right on Ford’s bumper were big old Chevy and Dodge pickups that were traded in for big new Silverados and Rams.
Overall, more than 95,000 new vehicles — about one in seven — got less than 20 mpg. On top of that, taxpayers subsidized scores of deals — totaling $562,500 — for new cars and trucks that got worse mileage than the trade-ins.
Seriously, why on earth do we trust the government to create and run programs like this? The same government that used to pay $6,000 for a screwdriver? Have you been to the DMV lately? And you want the government to solve our problems?