Ever since Washington first signed off on Cash for Clunkers, I've heard a steady chant of criticism about the program.
Some hate it because it's coming from the Obama administration. Some because foreign auto makers are benefiting from the program. And others think it's ridiculous to take old cars off the road that could be of value in the used and parts market.
While I've heard all these concerns, I'll be honest that there are very few I agree with.
Take the issue of whether foreign auto makers should be able to participate in the program. So far, roughly 53% of the new models sold are foreign brands. And of the top ten 'non big-3' models sold, well over half were built in the U.S. Certainly welcome news for people who work at the Honda plant in Ohio, the Toyota plant in Kentucky, or any of the other foreign auto maker plants in the U.S.
Critics counter that even if people are buying a Hyundai made in the states, these $4,500 clunker rebates still amount to sending U.S. tax dollars into the back pocket of foreign companies. In their view every single dollar of an incentive program should wind up being spent by Americans and helping only American workers and companies. Well, in a global economy, it's not that simple.
On CNBC.com now:
I get that critics don't want Federal money helping other countries when so many Americans are hurting. I get that after all the job cuts and pain in Detroit, there's a genuine desire to see the Big 3 bounce back. What I don't get is we finally have a programpumping some life into America's beleaguered auto industry and people would rather cut it off than build off the momentum it's creating.
So here is your chance. Tell me why Cash for Clunkersbothers you? Drop me a note. I'll pass along your thoughts to other bloggers and perhaps we'll all get a better sense of why Clunkers is not so great in the eyes of some of you.
Click on Ticker to Track Corporate News:
- Ford Motor
- Toyota Motor
- Honda Motor
Questions? Comments? BehindTheWheel@cnbc.com