You’ve likely heard a lot in the news in recent days about the “Cash for Clunkers” auto sales program, sponsored by our Federal Treasury. The program has been so “successful” in giving away money to support the auto industry that it’s already spent its $1 billion budget in a matter of just over a week. As a result, members of Congress are now clamoring for more money to keep the program alive. Where’s the new money going to come from, you ask? From stimulus dollars, initially targeted to support the ethanol industry. With this possible action, our members of Congress are proving to the public that what can be given with the stroke of a pen, can also be pulled with a new stroke of the same pen. See the article here.
Source: DTN
What do you think – is spending more of your tax dollars in additional support of the auto industry a better use of funds than ethanol? Should money be spent on either sector? Let me know by e-mailing me at doug@loranda.com.
