Ms. Eaton is a good reporter and has been exceedingly nice to me- But I get the feeling that with this article she is applying for a job in Rep. Betty Sutton’s communications staff. Is there another shakeup at The Plain Dealer?
With Cash for Clunkers, Eaton writes about it as if no one would think there would be an overwhelming interest in free money being dumped out by government helicopters at car dealerships for car owners.
And for being such an incredible woman of principle, Sutton would much rather talk to fawning Eaton than organize a health care town hall.
The laws of economics matter, regardless if President Obama, Betty Sutton, and Rob Portman don’t thing so:
Basing their argument on the fact that about 250,000 clunkers have already been traded in for new cars and that with another $2 billion in funding expected, up to 500,000 more used cars could be taken out of the market, Kelley sees the value of used cars in general rising steeply, if only for a brief time.
The average increase estimate is between 5%-10%.
Yesterday, I noted that Rep. Betty Sutton’s behavior-modification “Cash for Clunkers” program that the Ohio Democrat Party and MTR Lobbyist Chris Redfern was promoting has a website which gives the Federal Government control of your computer.
I just read today that the cars traded in for the Cash for Clunkers program are rendered unusable by running liquid glass through the engines.
Has anyone considered the impact of this on the poor? What has happened is that a huge number of low cost cars are being removed from the market. These are cars low income earners would ordinarily drive or teenagers would buy them who need to get to school or work.
What happens when we radically reduce the supply of a particular good? If there are no good substitutes, then the price goes up. In effect, this is a tax on the lower end of the market.
The fact that the Ohio Democrat who authored the C-f-C legislation might not fully realize how much destroying cheap cars hurts the poor is a classic example of the “progressive” mental disorder.
UPDATE: This issue recieved more funding, thanks in part Senator George “errrr errrr errrr” Voinovich.
Here is the statement from late last week, where the Ohio Democrat Party is applauding Rep. Betty Sutton’s silly “cash for clunkers” program which ran out of money.
But guess what happens when you or a dealer goes to the C-f-C website? Take a look: