In her latest Forbes column, Shikha Dalmia is sorry to add to the loud kvetching over the Cash-for-Clunkers program, but feels she can't stay quiet given the program's high lunacy-to-spending quotient, especially when it comes to its alleged environmental benefits.
"The program's basic idea involves paying owners of fuel-inefficient clunkers worth less than $4,500 a voucher up to the value of their vehicle toward a new, more fuel-efficient car on the hope that this will stimulate the moribund auto sector and slash carbon dioxide emissions. If you disregard the poor taxpayers financing it, everyone is a winner under this scheme.
But that's only in the fantasy land on Capitol Hill……"
Whole thing here.