The Downside of "Cash for Clunkers"

I’ll admit that the government’s “Cash for Clunkers” program has me regretting buying a car in April instead of waiting for the program, but a recent article on MSNBC voiced concerns about how it’s hurting the used car industry, charities, mechanics and ultimately lower-income buyers.

I had wondered before how the government plans on paying for it: It’s a great deal for the people getting the rebates, but I hate the idea of those rebates coming out of my taxes. Now I wonder if the entire thing is a huge mistake.

MSNBC article