Here is “I told you so” worth telling.
Because it teaches basic economics. Something left-leaning politicians ought to learn as well.
The automobile cash for clunkers program was slated to fail for a multitude of reasons. All of which I had outlined before. The misconceived plan had disrupted the new car, the used car, and the scrap metal markets. Plus, it cost taxpayers billions. Moreover, it set a bad example of government meddling. That accomplished lots of governmental mischief in one fell swoop.
All it did was show that politicians were “doing something.” And the economic results show that the politicians made the auto picture worse. The auto industry today is worse off than if it were left alone a few months ago.
No comments:
Post a Comment