Sens. Debbie Stabenow, D-Mich., and Sam Brownback, R-Kan., introduced an amendment Tuesday that would set up a program that allows consumers with older, less fuel efficient vehicles to trade in their "clunker" for a voucher worth up to $4,500 toward the purchase of a new car that must get at least 22 miles per gallon or an SUV or pickup that gets at least 18 mpg -- clearly a focus on U.S. manufacturers.
The one-year program is expected to help sell 1 million vehicles, according to Stabenow and Brownback.
The definition of "clunker" is a vehicle that gets 18 mpg or less, and the voucher size varies. Owners who purchase a new passenger car that gets at least 4 mpg higher than their old "clunker" get a $3,500 voucher. If the mileage difference is more than 10 mpg, the consumer gets the full $4,500.
First, what is the one of the 2008 GOP presidential hopefuls doing supporting this? Hasn't he learned anything thing through Republican losses over the last few years and the tea party protests? Also, the polls are constantly saying that people are upset by all of the government waste, and they're not buying what the Goracle is selling regarding global warming aka climate change. There is no reason why any Republican should vote for this bill.
If the hit their mark of 1 million cars traded in over a year, the project would spend $3.5-4.5 Billion just for buy the cars. That's not including the program's employees salaries, supplies needed, office space, etc. This would be an massive amount of government growth.
What is the benefit of this new government expenditure? A few people may get a sweet deal on their lemons. They'll be able to buy better cars sure, but at what cost? It will further endebt us to China and makes my grandkids pay off our spending spree until they're grandparents.
The reduction of carbon emissions will be negligible, and the few new higher fuel efficiency cars will barely make a dent on our dependence on foreign oil. The bang to hype ratio is way out of whack on this program.
Republicans need to fight this. They need to shed this label of being Democrats light. When they stick to their fiscal responsibility roots, they win elections. It's when they start spending like Democrats that they start losing power.