Did you see this?
The United States put one billion dollars up for a "cash for clunkers" program for its citizens so people would trade their high-fuel burning cars in for new, more fuel-efficient cars.
Seemed like a good idea, right?
I guess so.
But we put up this one billion thinking it would take us through Novemeber.
Do you know how long it lasted--this one billion dollars?
Some people refer to it as a week--but that's not really quite true.
One billion dollars for this one program was burned through in 5 days.
Was that fast.
So Congress saw how popular and successful this program was and immediately, today, upon returning to this idea, put up another two billion dollars to continue the program.
I haven't heard anyone say anything negative--or even questioning--about this yet.
Everyone seems to think and agree that this was just a sooper-dee-dooper idea.
And maybe it is.
But shouldn't someone analyze this?
If it took us 5 days to go through one billion dollars (notice I spell that out every time?), how long will it take us to throw out two billion dollars?
Will that be two weeks?
Will that be fourteen days or less?
And here is where the questions come in, folks.
Does it make sense for the United States to throw out, first one billion dollars--now a total of three (billion dollars) for people to trade in their cars, when its the same US government that had to put out more billions of dollars, just earlier this year, to buy GM (General Motors, now "Government Motors") and Chrysler?
We took billions of dollars of borrowed--from the Chinese--money to buy our auto manufacturers and now we're taking billions of more dollars--three billion more, to date--to get the man and woman on the street, to buy these same cars.
And everyone's okay with this?
Shouldn't someone be asking about all these loans?
Shouldn't someone be analyzing this?
And why do I feel like we're all lemmings right now?
Link to story:
Wednesday Open Thread
23 minutes ago