Tag Archives: scorn

Wednesday Morning News Roundup (update)

An earlier version of this post said Tuesday. It was Wednesday. Need more sleep!!

Happy New Year to Everyone. Here’s today’s News Roundup

Congratulations to Stanford University. I guess it is time for us to consider Stafford a legitimate football powerhouse. Really? Stanford? 🙂

There was lots of consternation and handwringing in the House last night. The Senate overwhelmingly passed a lukewarm bill and for some reason this bill drew instant scorn from Eric Cantor and other conservative Republicans. In the end, 85 Republicans joined almost all of the Democrats to lock in the Bush-era tax cuts for the middle class. I think that this, as a whole, is a good thing. I do not, however, think that this is cause for the happy dance. I think we have many challenges ahead and the House GOP has basically told us that they want, that they lust after, spending cuts. This is not going to get any easier.

The House decided that the East Coast did not need any relief from Hurricane Sandy. They adjourned without taking any action. I just don’t understand how that is acceptable.

Finally, I saw this from the South Carolina – Michigan game. It was tweeted out by Rich Eisen. This is an incredible hit. When you’re talking about an explosive hit, this is what you’re talking about. Wow!

Cash for Clunkers shuts down

Classic 1971 Monte Carlo which sold for over $60,000, Not a clunker

The White House has announced that the Cash for Clunkers program will end on Monday. I’m not sure why this program has garnered the scorn from conservatives that it has. This may be government at its best. This was a limited intervention that cost a relatively small amount of money ($3 billion) and it had a huge impact. Auto car sales have clearly jumped as result of this program. This has helped stimulate an ailing industry. 457,000 cars a been sold so far through this program.

Actually, there’s another reason for conservatives to shout with joy. This isn’t one of those government programs that get perpetuated over and over and over again. Instead, this program is shutting down as designed. Infuse capital. Stimulate the economy. Close the program and see the effects of the stimulus.

As with any government program Cash for Clunkers had politics associated with it also. It seems that there needed to be a considerable number of discussion about the definition of a “clunker.” Some car dealers, who sell classic cars, didn’t want their cars caught up in the clunker hysteria. In a democracy there’s always a give and take.