Tuesday, May 5, 2009

Infinite hubris coupled with economic ignorance

Does it ever end? I suppose it will someday, but for now the attitude of the current idiot administration/party in power, as opposed to the last idiot administration, seems to be "in for a penny, in for a pound." They can't wait to display the depths of their economic illiteracy to the world. Check out the following hyper-moronic plan to stimulate U.S. auto sales.


Obama, lawmakers agree on "cash-for-clunkers" bill
Tue May 5, 3:49 pm ET

WASHINGTON (Reuters) – President Barack Obama and Democratic lawmakers reached agreement on Tuesday on a legislative proposal designed to stimulate U.S. auto sales, which have fallen to near 30-year lows.

The one-year plan crafted by members of the U.S. House of Representatives would offer vouchers worth up to $4,500 for owners to replace their less fuel efficient vehicles for models that get better gas mileage.

The goal of the "cash for clunkers" legislation is to sell 1 million vehicles.

"By stimulating consumer demand for new vehicles, this proposal will directly benefit domestic autoworkers and automotive manufacturers, which have arguably been hardest hit by the current economic downturn," said Rep. John Dingell, a Michigan Democrat and staunch industry ally.

House Majority leader Steny Hoyer has embraced the proposal and said in an interview with Reuters in April that the measure would be acted upon quickly once proposed.


Why only $4500 towards a new car? Why not give the things away to everyone (citizen and illegal alike) and make those factories really hum?

Truthfully, I don't really care anymore. As someone I read recently said, it's all the Democrats' baby now; they can't blame the impending fiscal ka-boom on those worms known as the Republicans, who stand for nothing except a different version of big government. In fact, I implore all idiotic ideas be not only proposed, but adopted, thereby hastening the day of reckoning.

Take care.


Bitmap said...

The economy is in the tank because too many people have too much debt (largely because of government policies) so lets help out by trying to convince everyone to go deeper into debt.

Of course the upside for marxists is that if millions more people end up bankrupt and destitute there will probably be more votes for marxists.

The Other Mike S. said...

That's how I look at it: Pile the garbage on, let's get this over with, and try and move on with the scraps that are left. It's this "death by a thousand bailouts" that's harmful.

Go All In!