Then today, to the relief of many, the government has decided to extend "Cash for Clunkers" and hand out more of my money in the form of 2 billion dollars on top of the 1 billion we're already paying for, all basically giving money to people that can't afford a new car in the first place. This makes sense; give people that have a gas guzzler (they knew it was a gas guzzler) a so called rebate for a new car that will lose that much when it drive off the lot. Then destroy that old car, not utilizing any parts or anything.
...I knew what mileage my truck got when I bought it, It was my decisions, and I live with it, and pay for my gas....where's my money?!?!
Paraphrasing another blogger on this subject, Who pays for it?
- You are, because it is your tax money that Obama is giving away.
- You are, because when the loans taken out stop being paid, the bank will run to the government for another bailout . . . that you pay for with your taxes.
- You are, because this will help put more used car dealers out of business, and they are either going to go to Washington for a bailout of their own or go on welfare.
- You are, because the car loans from many banks will be bundled up by companies and then sold to pension funds and other unsuspecting fools. This is a repeat of the Housing Bubble, but this time it is cars, not houses.
