The Senate has just approved 2 billion more dollars (our dollars, don't forget) for the Cash-for-Clunkers program.
Without any evidence of the program's effectiveness.
The Obama Administration has refused to release information about this program thus far.
Transportation Secretary LaHood has touted the program as good for the environment and good for the economy. He has stated the Fords have led the pack in the new cars being purchased. However, preliminary figures show that Hondas, Toyotas, and Hyandais are the preferred cars in this new program, while Ford, GM and Chrysler are not.
Environmentally, scientists are not ecstatic about the program. "As a carbon dioxide policy, this is a terribly wasteful thing to do," said Henry Jacoby, a professor of management and co-director of the Joint Program on the Science and Policy of Global Change at MIT. "The amount of carbon you are saving per federal expenditure is very, very small."
There are also fears that this program will hurt those who cannot afford new or nearly-new cars, as the market of older cars will dry up, and that auto mechanics are now feeling the pinch of not having older cars in need of repairs.
The Associated Press
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