John Stossel
  • November 29, 2009 02:04 PM EST by John Stossel

    Whip Recession Now

    President Gerald Ford urged people to wear "WIN" buttons so we could "Whip Inflation Now."

    That stunt was as useless as Cash for Clunkers. But unlike Cash for Clunkers, WIN didn’t encourage fraud and and it didn’t distort the market. Cash for Clunkers does both.

    The car trade-in program was supposed to help the environment by getting smoke-belching bombs off the road.

    The cars were supposed to be destroyed. But since many of them are valuable, what are the odds that all those dealers, after filling out the tedious government paperwork, really would destroy all those cars?

    Some have expressed concern that vehicles that should have been destroyed in the Cash for Clunkers program may turn up on a used car sales lot...

    Carfax.com now has that information on its Web site, allowing people to enter a vehicle identification number to check if the vehicle they want to buy might be registered as a clunker for free. Carfax spokesman Larry Gamache said some "clunkers" are back on the road in spite of a promise that they be destroyed. "We fully expect that clunker vehicles are going to be with us for a long time," Gamache said. "It's just too much incentive for conmen to make a quick buck."

    Who could have predicted that?

Colin

Cash for Clunkers is also resulting in fewer cars being donated to charity: http://cbs2chicago.com/local/cash.for.clunkers.2.1332145.html

November 29, 2009 at 4:07 pm

About this Web Site

  • John Stossel joined FOX Business and FOX News in October 2009. His show, Stossel, airs on the Fox Business Network on Thursdays at 8 p.m. ET

    He is the New York Times best-selling author of Give Me A Break and Myths, Lies and Downright Stupidity. His "Give Me a Break" commentaries take a skeptical look at a wide array of issues, such as education, the economy, parenting, and more.

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