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Friday, July 31, 2009

Congress Bails Out the Auto Industry…Again…

The House today doubled down on the “Cash for Clunkers” program, approving $2 billion more to keep the nationwide sales ploy afloat. With the first $1 billion set to run out, Congress moved with lightning speed to get more cash on the street – despite widespread reports of confusion surrounding how the program is being administered.

Congressman Hodes, not surprisingly, praised the bill in a statement:
It’s good for New Hampshire’s auto dealers; it’s good for the environment as we are getting inefficient cars off the road; and it’s good for the economy and jobs.
Ah, Congressman, but what about the taxpayers? What about our record deficit and debt? How many future generations will have to pay for a program that may be “popular” but is completely fiscally irresponsible?

Let’s hope the Senate put the breaks on this fast-track funding when it reaches the upper chamber next week.

1 comment:

  1. Our Congress has done it again....with the requirement of destroying the "clunker cars" that means the Federal Government buys these cars from $3500-4500. and gets about $300 at the Junk Yard. Now that sounds like frugal spending of our tax-paying dollars???