Cash for Clunkers Madness

The ridiculous Cash for Clunkers program came to a close earlier this week. Let's recap the thinking of our Washington braintrust:

1. Our stroke of genius will be to subsidize new cars to the tune of $3,500 to $4,500 which for the most part, will benefit middle to upper class citizens;

2. We'll encourage people to buy new cars at a time where at best it is inadvisable that they take on more debt -- forget that unemployment and defaults on loans are at their highest point in years;

3. We'll then destroy those very cars that are the most affordable at a time when those people that are not well off need it the most, and in the process hurt those same people by driving up the prices of the remaining used cars and their spare parts;

4. We'll be picking winners and losers again by giving money to one industry at the expense of other industries that will not get money from their customers that auto dealers will end up getting. Knowing we are already getting cries from these industries for the same bad policy to be applied to them;

5. And to fund this lunacy, we'll continue down that same path of looting current and future generations of taxpayers that help to create much of the mess we're in in the first place. It's been a winning formula that's kept us elected in the past;

6. And then when it's done, we can position this as a success by pointing out the success for the auto industry because of the increase in sales while ignoring the consequences. And some people will have shiny new cars!!!

I think that about sums it up. When will this madness end?