The “cash for clunkers” program, which paid $4500 to consumers who traded in their old gas guzzlers for more fuel efficient vehicles, has crashed and burned in less than a week. From the story:
Less than four days after launching a popular cash-for-clunkers program, the Obama administration warned Congress the plan already had burned through its $950-million budget, setting off a rush for more money while leaving thousands of dealers and consumers in the lurch.
Question: If the Congress and the Obama Administration can’t properly plan and execute a relatively small plan like cash for clunkers, why should we think the government can manage and properly budget for 1/6th of the entire economy?
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