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Full Spectrum Culture - Used car prices skyrocket a year after Cash for Clunkers

Used car prices skyrocket a year after Cash for Clunkers -- Ed Morrissey, Hot Air

“…As predicted last year, the people most hurt by the price increases are those who can least afford them. The used-car market usually attracts people who need transportation on a budget, who cannot afford to buy new. By destroying a quarter’s worth of trade-ins in three weeks and permanently taking them off the market, the Obama administration has forced an artificial inflation by supply restriction. Moreover, they did so by subsidizing new-car sales that would have occurred anyway, eating up three billion dollars in taxpayer money…”

Read the rest here.

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