Do I qualify for the “cash for clunkers” program? Yep. My truck has about 180,000 miles on it. I’ve owned it for about nine years and it is insured since day one. I could trade it in and take the $4,500 from the government.
But who am I really taking the money from? Well, the US gov is borrowing 50% of the money they are spending right now. It will have to be paid back someday and it likely won’t be soon at the continued rate of borrowing.
Sam, our four month old grandson, spent the weekend with us. Saturday night I was holding and rocking him. I thought I would ask him. “Sam, do y0u mind if gramps cashes in his government lottery ticket and lets you pay it back some day? I know that by the time you get around to paying it back we will have driven you into a tax hole you will likely never get out of. I know we are setting you up for a lower standard of living and a life of high taxation. But wouldn’t it be nice for gramps to have a little car. Sure it will wear out before you get around to paying for it, but what the heck. You don’t mind do you?”
There are a lot of reasons why the “cash-for-clunkers” program is wrong. But my grandson is top of my list.