This administration will never learn, will they? After the hideous "Cash for Clunkers" program, it seems that the wonderful folks at Government House are set to implement the same program. This time, it'll be major appliances instead of junk cars.
The "Cash for Appliances" program will get the rebate funding from $300 million of the $787 billion allotted by BHO back in February. The intent of the program is to get people to buy more energy-efficient household appliances while, in theory, stimulating the economy and creating jobs. Yeah...Detroit really took off after the "Cash for Clunkers" program, eh?
Rebate programs would be administered by the states with the blessing of the federal government. A survey of some of the largest states shows that California is planning to begin its program in March, New York in February, Pennsylvania in the spring, Illinois in January and April.
Under the program, Virginia is expected to receive $7.5 million, Maryland $5.4 million and the District $568,000, but the requirements and rebates have not yet been disclosed, although initial estimates have some potential rebates pegged at $50 to $100.
The federal government is also requiring states to disclose how many jobs will have been created by this evil twin of "Cash for Clunkers." Under the current figures, California, potentially netting $35 million, estimates that a whopping 350 jobs will be created under the implementation of the program. They estimate that for every $92,000 spent, ONE job will be created. My theory would be that it'll be a government job.
The home appliance market has been in a steady decline for the past three years. Do you think people are going to go out and immediately buy a new fridge or wait until the government is handing out money? If you said that the unintended consequence of this idiotic idea is going to further depress an already declining market, go to the head of the class.
"Cash for Clunkers" blew through $3 billion within the first week. How many days will it take for the government to go through a mere $300 million? And when that money runs out, how much more is going to be thrown at a failed idea? I guess it'll be time to fire up the presses again at the Treasury Department.
What needs to happen is peaceful, civil disobedience. The American people are sick and tired of the over-the-top wasteful spending on ideas that don't work and further push us down the economic hole we're in. The time is fast approaching where we will be required to ask ourselves "At what point do I resist?"