Once again comedian Steven Crowder produces a great video to show what asses we have in Congress and the White House. Don't get me wrong these same types of pork projects are done by every administration whether they be Democrats or Republicans, so while many Republicans chose not to vote for the Stimulus bill they gave away plenty of pork when they were power. We are broke people!!! WAKE UP!!! Its time to vote the bums out.
Now the only piece of the stimulus bill that seems to be working is the "Cash for Clunkers" program. After only one week its already doled out its entire budget of $1 Billion dollars. So what does the House of Representatives do? Well they approved another $2 Billion of course.
Here's some of the problems with this little program. First and foremost most of the people turning in their clunkers are either poor or lower middle class and can't really afford a new car. Why do I say that, well because if you're in the upper middle class or rich you likely drive a car that's new and gets good gas mileage so you really aren't impressed with this little rebate plus you buy or lease a new car when your other one gets old. Therefore the people rushing out to buy new cars are the same types of people that bought houses they couldn't afford and then defaulted. So just like the mortgage market the government has incentivized its citizens to take on more debt than they can afford and has brought them closer to either bankruptcy or a soup line. Because let's be honest folks if these people could really afford a new car wouldn't they have already bought a new car before the government's car welfare program started. Second for the poor that didn't get a new car the used car market just got alot more expensive. You see all of these clunkers are to be recycled which mean the amount of used cars is going to decrease. Now I know everyone is not an economics major but we have all heard of supply and demand. When the supply is small and there is a demand for a product the price of the product goes up. Way to go government can't wait for the "Car Bubble" which, should be arriving just in time for the mid term elections.