Cash for our Friends in DetroitRussell Roberts eviscerates the idiotic and plaintive whine from Dianne Feinstein and Susan Collins in the Wall Street Journal about the cash for clunkers bill.
Our "Cash for Clunkers" proposal was a win-win for the environment and the economy. Then Detroit auto industry lobbyists got involved. Soon a rival bill emerged in the House, tailored perfectly to the auto industry's specifications.
They idiotically seem to think that the final bill did not reflect their initial 'win-win' motives.
Roberts' whole post is good for a laugh, but his final point is telling and refutes their self-delusions.
You mean the lobbyists actually influenced the bill? And a new Hummer gets preference over a used Ford Focus? Well that's what happens when you have the wasteful idea of subsidizing new car purchases. It leads to waste. Why are you surprised?