Foundation for Economic Education » Clunker Program Runs Out of Cash

Clunker Program Runs Out of Cash

Posted By Sheldon Richman

“The U.S. government’s $1 billion ‘cash for clunkers’ program to spur new car sales ran through the money six days after it began, Senator Debbie Stabenow said.” (Bloomberg ^[1], Friday)

So the government borrows money to subsidize new-car buyers, while preventing lower-income people from buying used cars.

FEE Timely Classic
“Coercivists and Voluntarists” ^[2] by Donald J. Boudreaux

Article printed from Foundation for Economic Education: http://www.fee.org

URL to article: http://www.fee.org/articles/in-brief/clunker-program-runs-cash/

URLs in this post:

[1] Bloomberg: http://www.bloomberg.com/apps/news?pid=20601087&sid=aWKYBKED5EKI

[2] “Coercivists and Voluntarists”: http://www.thefreemanonline.org/columns/coercivists-and-voluntarists/

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