Should Congress Refuel The Stalling "Cash-For-Clunkers" Program?
Jerry Bowyer Chief Economist, Benchmark Financial Network
But it has already done America quite a bit of good. On the cusp of health care nationalization the Clunker Legislation has reminded us just how incompetent central planners are at, well...central planning. Clunkers pile up in front of scrap yards that don't want them, while the checks are trapped in a maze of red tape. Imagine if those were our actual living bodies and not our old cars placed under government management???
Keith Boykin Fmr. Clinton White House Aide / The Daily Voice Editor
It's a wildly popular, hugely successful government program that has helped car makers. Auto companies reported their best month in almost a year and Ford posted its first monthly sales increase in two years. What's not to like?
It also shows that government programs do work, like the TARP, which is being repaid to the Treasury, and the recovery package, both of which have helped to grow the GDP and rally the stock markets.
Vince Farrell Scotsman Capital Management
Here is a relatively small stimulus plan that has been embraced by the market and provides the best bang for the buck of anything that has come out of Congress so far. Surveys show that for every 100 cars sold under the clunker program another 40 get sold because of increased traffic in the showroom. Auto inventories are depleted and this will prod an increase in production and create jobs.