Truth, Lies and In Between

GM is doomed. Thanks Bush and Obama. Letting the company fall on its ass when it was able to file bankruptcy and reorganize into a viable company was probably the way to go. This current fiasco has pretty much gutted America’s auto industry. Supporting the buyout of GM and CAFE is the nail in the coffin for GM.

So much for supporting America.

An Omen in the Cash for Clunkers Results
By Daniel Ikenson

Chris Edwards is right. Tad DeHaven is right. Cash for Clunkers was a shell game and an utter waste of taxpayer money. But C4C offers another teachable lesson, which is that the 35.5 mile per gallon by 2016 fuel efficiency standard will kill General Motors.

In just the latest example of government policies working at cross-purposes, the president buys a 60 percent stake in GM at a cost to taxpayers of $50 billion (conservatively), and simultaneously supports a mandate—in the rigid CAFE standard—that will severely handicap GM, while assisting the competition.

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Related:

Failures Mount on Cash for Clunkers

It didn’t take a Ph.D. in economics to recognize that the federal “Cash for Clunkers” program would put upward pressure on used-car prices. In nominating it “the dumbest program ever” back in August, Chris Edwards noted that “low-income families, who tend to buy used cars, were harmed because the clunkers program will push up used car prices.”

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