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Overnight Open Thread

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vxbush7/31/2009 6:34:07 am PDT

re: #552 Lincolntf

“Wasn’t the point to get older gas guzzling cars off the road with an added bonus of actually stimulating something?”

Not really. If that was the only goal, then the mileage differential between old/new cars would be the sole determinant of eligibility. It was a feel-good, do-nothing plan (like most Government programs). While some people may benefit from the plan (it’s hard to give away a billion dollars without fattening someone’s wallet) it is ultimately not going to help the economy.
Add in the fact that most of the decent new cars that qualify mileage-wise are foreign-made and the returns diminish even further.

Yes, but when you realize that there are Mitsubishi and Toyota plants in the US, those “foreign cars” aren’t really that foreign.