The Senate is considering a so-called "Cash for Clunkers" program. The idea behind the legislation, offered by Debbie Stabenow (D-Mich.) and Sam Brownback (R-Kan.), is that if you trade in your older car or SUV, the government will provide you with a voucher up to $4,500 to purchase a new car or SUV that is more fuel efficient.
Bygones is researched and written by David Ouse, retired reference librarian from the Duluth Public Library. He can be contacted at djouse49@gmail.com.
Although Congress is split over whether the stimulus package shouldbe comprised of tax cuts or spending increases or some combinationof both, lessons derived from such past efforts at home and abroaddemonstrate that strategies relying on increased spending willfail. Indeed, such lessons also suggest that such strategies makethings worse by diverting scarce resources away from productive usein the private sector.