Cash for Clunkers, RIP

(By Meredith Jessup, Townhall.com) - An good analysis of the Cash for Clunkers program, courtesy Karen De Coster from the Clare Boothe Luce Policy Institute:

The ‘Cash for Clunkers’ megaflop, which promoted the reckless abandonment and destruction of property, is one of the most absurd schemes ever foisted upon the American public. The politicians who conjured up the plan with a childish name have illustrated how unhinged they’ve become in their quest to plan and control every facet of the U.S. economy. These are the same people who seek to control your healthcare.

On July 31, 2009, the clunkers program went kaput when the cash tank ran dry only one week after it commenced. Media reports about the lack of funds available to continue the program dominated the morning news.

Just hours after these reports appeared in the press, the negative spin in the media came to a halt after embarrassed politicians huddled and plotted, and then they announced that Congress had just voted to refill the 'Cash for Clunkers' trough by transferring $2 billion in emergency funds from a renewable energy loan guarantee included in the economic stimulus package. It is a classic example of the utter failure of centrally-planned government policy.