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News from the AP that will not make Democrats happy:The popular "cash-for-clunkers" program may be a well-timed shot of adrenaline for the economy, but it's not a prescription for a lasting recovery.The federal rebates of up to $4,500 to drivers who trade in a gas guzzler for a more fuel-efficient vehicle are steering cash to car dealers, giving a boost to troubled automakers and generating much-needed sales taxes for cities.All this will help the economy grow faster in the second half of the year than previously forecast. Yet the rebates will also steal economic growth from the future: They make car sales happen now that would have been made later anyway.But one question remains: will car sales will ever be more than anemic withoutthese costly incentives?Also: Why are taxpayers wiling to pay rich folk to buy cars that could without any help.There are more questions of course...
News from the AP that will not make Democrats happy:
The popular "cash-for-clunkers" program may be a well-timed shot of adrenaline for the economy, but it's not a prescription for a lasting recovery.
The federal rebates of up to $4,500 to drivers who trade in a gas guzzler for a more fuel-efficient vehicle are steering cash to car dealers, giving a boost to troubled automakers and generating much-needed sales taxes for cities.
All this will help the economy grow faster in the second half of the year than previously forecast. Yet the rebates will also steal economic growth from the future: They make car sales happen now that would have been made later anyway.
But one question remains: will car sales will ever be more than anemic without
these costly incentives?
Also: Why are taxpayers wiling to pay rich folk to buy cars that could without any help.
There are more questions of course...
