More “Stimulus” Idiocy: “Stimulus” Bill contains billions to destroy perfectly good cars in the name of Gaia.
The so-called “Accelerated Retirement of Inefficient Vehicles Act” is “Cash for Clunkers” with a twist. Instead of focusing exclusively on old cars as is typical with scrappage programs, this bill will target any vehicle with lower fuel-economy ratings. Participants will receive a cash voucher to purchase a more fuel-efficient new car or used car (model year 2004 or later) or receive credit for the purchase of public transportation tickets.
Under the legislation, “fuel efficient” means at least 25% better mileage than the CAFE standard. It will be illegal to resell the scrapped vehicles. Bill sponsors want to destroy 4 million pickups and SUVs over the next four years.
The program will fail to achieve its goal of improving fuel efficiency and stimulating car sales, but will increase unemployment and the cost of used cars and parts. Here’s why:
Only an idiot would defend this kind of thing. So, over to you, Speaker Pelosi.